TheChartGuys

BTC Scouting 4 Hour Higher Low

COINBASE:BTCUSD   Bitcoin
BTC saw a pump last night that only lasted about 10 minutes in terms of the significant part of the move.
Since then we have consolidated for 9 hours giving some of the move back.
This is still healthy consolidation on the 4 hour and even a potential bull flag.
Bulls are trying to hold the back test of 4 hour EMA supports.
We are still in a 4 hour lower high pattern but the bulls are saving the tightening daily chart.
As described in the video yesterday the current BTC setup on the daily is a bit of a grey area, while names like ETH and XRP have a much more clear daily equilibrium.
I personally am still viewing this as a daily equilibrium due to the patterns of those other names.
Bulls need another leg up to change trends on the 4 hour chart.

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