TheChartGuys

BTC Testing Dump Lows

COINBASE:BTCUSD   Bitcoin
Clear bear breaks across many individual names last night as we are heading back towards weekly supports.
Bulls must hold the weekly higher lows in order to have a chance for the longer term trend change.
Clear bear volume and the only nearby support is the low of the dump a week ago.
Now we are back to the "Zoom Game" Looking at hourly EMA 12/26 resistances as the first hurdle.
Turn them into support and we zoom out to the 4 hour to watch the same resistances.
Bears in full control and watching for 4 hour oversold bounces to result in lower highs.
Patient traders are waiting for clarity on the longer term charts. Bears remain comfortably in control.

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