2nd video in 3 days where I have given a must hold level for the bulls that we were on the verge of breaking, but the bulls managed to hold.
We now have another 4 hour higher low, and a continued tightening range.
We will look for a clear break likely tomorrow, and the more upside the bulls can see here to give them space, the longer we can stay in the tightening channel.
We are seeing a tightening range being capped by EMA12 resistance on the daily, which continues to reject the price.
With shorts so high, a bull break here should see another few hundred dollars of upside over the top of the current bounce.
Bulls are potentially using the 4 hour higher lows as stops, bears are looking to enter on another 4 hour lower high, and patient traders are waiting for the tightening range to break before acting.
We now have another 4 hour higher low, and a continued tightening range.
We will look for a clear break likely tomorrow, and the more upside the bulls can see here to give them space, the longer we can stay in the tightening channel.
We are seeing a tightening range being capped by EMA12 resistance on the daily, which continues to reject the price.
With shorts so high, a bull break here should see another few hundred dollars of upside over the top of the current bounce.
Bulls are potentially using the 4 hour higher lows as stops, bears are looking to enter on another 4 hour lower high, and patient traders are waiting for the tightening range to break before acting.
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