Quick update. We saw the initial pop off our lows and price action getting above the EMAs to then ultimately fail and come right back below. From there we saw our low set at $7080 and the bulls give a nice solid pump yesterday up right to the top of our resistance zone at $7775. They then gave nearly all of it back but technically set a higher low by $6 at $7086. So essentially we have a double bottom the bulls want to protect. We hit $7490 thus far which could be our lower high compared to $7775 and give way to an equilibrium which would likely break by tomorrow. Ideally would like the bulls to set the lower high a bit higher up and into the high $7500's to give more breathing room and space to tighten the pattern up for another higher low.
Ultimately tho, bulls need to start showing they can hold EMAs as support and start their stair step upwards otherwise the EMAs and this resistance zone will continue to cause problems.
Just My 2 Sats!
Ultimately tho, bulls need to start showing they can hold EMAs as support and start their stair step upwards otherwise the EMAs and this resistance zone will continue to cause problems.
Just My 2 Sats!
