Things are getting INTERESTING, mostly due to the continual increasing shorts.
They are opening the door to get squeezed and bulls can see this clearly.
We still do have 4 hour lower highs and in order to see a squeeze we are going to need to see a 4300-500 move in 1 hour.
Bulls still must remain protective trading counter trend, and this 4 hour consolidation to form a higher low needs to hold EMA support to remain very strong. Also watching for the first EMA 12 and 26 bull cross since the lower high at $8,500.
If looking to enter on consolidation, a stop below wherever the 4 hour higher low forms is the safe play.
Bears are no longer as comfortable as they used to be. Let's see if BTC can break the 4 hour lower highs.
They are opening the door to get squeezed and bulls can see this clearly.
We still do have 4 hour lower highs and in order to see a squeeze we are going to need to see a 4300-500 move in 1 hour.
Bulls still must remain protective trading counter trend, and this 4 hour consolidation to form a higher low needs to hold EMA support to remain very strong. Also watching for the first EMA 12 and 26 bull cross since the lower high at $8,500.
If looking to enter on consolidation, a stop below wherever the 4 hour higher low forms is the safe play.
Bears are no longer as comfortable as they used to be. Let's see if BTC can break the 4 hour lower highs.
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