BTC bulls rejected by resistance
BTC bulls made their move last night back to test the recent high of the bull break,
but they were clearly rejected with a solid pullback that has yet to find a support level.
The bulls are hoping the hourly uptrend can hold with a higher low here to give the bulls another shot.
If we break the low of consolidation so far, we will look at more significant daily consolidation coming.
This is the second time the bears have made a statement in the last 4-5 days so keep an eye out for bear volume on the hourly.
Currently still in a position and will exit if the low of consolidation breaks.
Also watching for signs the BTCUSDSHORTS are building positions again after so many have closed them.
but they were clearly rejected with a solid pullback that has yet to find a support level.
The bulls are hoping the hourly uptrend can hold with a higher low here to give the bulls another shot.
If we break the low of consolidation so far, we will look at more significant daily consolidation coming.
This is the second time the bears have made a statement in the last 4-5 days so keep an eye out for bear volume on the hourly.
Currently still in a position and will exit if the low of consolidation breaks.
Also watching for signs the BTCUSDSHORTS are building positions again after so many have closed them.
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