BTC is forming an hourly EQ pattern with a double bottom as support.
We will likely see a break within the next 6 hours but until then expect low volume and a lack of price movement.
If we get a bull break, we will be heading towards $8,880 resistance on the daily.
If we get a bear break, we will be looking for further consolidation on the 4 hour, and for the daily chart to pull back in a need to form a higher low.
Currently back to all cash and waiting for some more clarity this week.
As highlighted in the video yesterday, this is going to be a key week heading forward as to whether or not our weekly higher low in the long term equilibrium has been set yet or not.
Establish a game plan for both scenarios... what will I do on a bull break of this EQ?
A bear break? Nothing is an acceptable answer!
We will likely see a break within the next 6 hours but until then expect low volume and a lack of price movement.
If we get a bull break, we will be heading towards $8,880 resistance on the daily.
If we get a bear break, we will be looking for further consolidation on the 4 hour, and for the daily chart to pull back in a need to form a higher low.
Currently back to all cash and waiting for some more clarity this week.
As highlighted in the video yesterday, this is going to be a key week heading forward as to whether or not our weekly higher low in the long term equilibrium has been set yet or not.
Establish a game plan for both scenarios... what will I do on a bull break of this EQ?
A bear break? Nothing is an acceptable answer!
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