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.
@TheChartGuys, interested in why 3-500 in an hour to start a short squeeze? Any slower and it allows short sellers an orderly exit?
weslad
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BTC seems to bounce as largely expected of people that 58XX zone will do the magic. I saw a great analysis on the log scale showing exact price action on a re-test of major level. It worth looking at. If this is correct then BTC will be on with a great moves.
stevepaoli
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What do you think about the double top that's formed over the last 2 days?