BTC Update! Another daily lower high and EMA battle!

12 thg 6, 2019

I thought BTC bulls were going to bust through last night and was watching in anticipation for a while but bears clung on and held resistance so far. We had the high of $8134 on the bounce a few days ago, a lower high of $8097 and last night another lower high of $8081. I was personally watching 15 min and hourly charts and bull volume came on strong and appeared to be setting up for the break above the resistances and 12 EMA on daily. But fell just short on clearing everything. This tells me the bulls are close and if/when they bust it, I do expect a quick jump upwards and then bulls will need to prove themselves with follow through (example a quick bull flag and continuation). If bears manage to hold their resistance and drive price back down, we again look down at $7400-7500 area for support. Currently leaning bulls in control but personally would love to see a bit more of a pullback closer to that $6700-7000 range for a healthy weekly higher low to form and then bust out for continuation upwards from there. Lets see if the bulls can regain some strength this morning and work towards their breakout.

Just My 2 Sats!