Is $9700 the resistance to beat and finally get a bull pop? It sure seems to be and that is pretty much what I am watching for a potential entry back in for a trade. The caution I have with this is our daily chart. We have still not tested our 12 EMA again which is now under $10k. This could be an easy setup where bulls rush in on a bull break above $9700 only to see the bears smash price back down on a 12 EMA rejection on daily.
Overall just very low volume since our bear break on Wednesday and not much movement other than sideways since then sticking within about a 3% range for 4 days now. Be prepared for the bull move and hope the bears aren't setting it up for their shorts based on daily 12 or 26 EMAs. 4 hour continues to get rejected by 26 EMA but things do seem to be building in intensity here so possible pop sooner rather than later.
Just My 2 Sats!
Overall just very low volume since our bear break on Wednesday and not much movement other than sideways since then sticking within about a 3% range for 4 days now. Be prepared for the bull move and hope the bears aren't setting it up for their shorts based on daily 12 or 26 EMAs. 4 hour continues to get rejected by 26 EMA but things do seem to be building in intensity here so possible pop sooner rather than later.
Just My 2 Sats!
