Bulls showed up overnight and have great positioning for today.
VERY healthy hourly consolidation after the big move up shows me the bears were caught a bit off guard.
Currently a low volume 4 hour inside bar, if we break it bearish that means we stay in the 4 hour Equilibrium longer.
Hourly EMA levels are support and a bull break will result in a bullish 4 hour EMA 12 and 26 cross for the first time since the drop from the mid $5,000s. A bull break will have us look to daily EMA resistances as the next target.
Shorts have yet to do much covering, which we expect will change significantly if we break $4,120 for continuation.
A few altcoins, LTC included, have already broken to 4 hour higher highs.
Still riding half of my position and liking the setup much better today.
VERY healthy hourly consolidation after the big move up shows me the bears were caught a bit off guard.
Currently a low volume 4 hour inside bar, if we break it bearish that means we stay in the 4 hour Equilibrium longer.
Hourly EMA levels are support and a bull break will result in a bullish 4 hour EMA 12 and 26 cross for the first time since the drop from the mid $5,000s. A bull break will have us look to daily EMA resistances as the next target.
Shorts have yet to do much covering, which we expect will change significantly if we break $4,120 for continuation.
A few altcoins, LTC included, have already broken to 4 hour higher highs.
Still riding half of my position and liking the setup much better today.
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