BTC 4 hour chart continues to tighten to the point where we know a break is coming.
The daily inside bars will give us a guide on direction, but we need to see follow through and a volume spike on the break as well.
Bears are still very comfortable and not going to have to cover anything without a bull break of resistance levels.
This is the kind of day when abnormal volume and daily inside bars will alert us to the move as it happens.
I have personally been very patient for the last 3-4 days and will look to act on a bull break if we get it.
One thing I always factor in, is where 5, 15, and 60 min RSI levels are at as the break happens.
If they are too extended, and because we are fighting the daily and weekly trend, I will be more cautious or patient on an entry.
The daily inside bars will give us a guide on direction, but we need to see follow through and a volume spike on the break as well.
Bears are still very comfortable and not going to have to cover anything without a bull break of resistance levels.
This is the kind of day when abnormal volume and daily inside bars will alert us to the move as it happens.
I have personally been very patient for the last 3-4 days and will look to act on a bull break if we get it.
One thing I always factor in, is where 5, 15, and 60 min RSI levels are at as the break happens.
If they are too extended, and because we are fighting the daily and weekly trend, I will be more cautious or patient on an entry.
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