After a break of short term resistance with no follow through, we are heading back down to test recent daily supports. If these levels hold we will remain in a tightening range for the week. This could be a bullish scenario for some alt coins as sideways bitcoin allows for altcoins to trade on their own without significant correlations.
If support breaks we will be looking down to $9k and daily oversold RSI conditions. Monthly consolidation looking for a higher low could be the end result if bears get follow through. Watching volume as we will need significant bear volume to break the 5 support we have from previous price action above $9k.
Still not actively trading this range and waiting for short term clarity. After the weak breakout attempt I would rather be a bear than a bull if forced to have a position in this current range.
If support breaks we will be looking down to $9k and daily oversold RSI conditions. Monthly consolidation looking for a higher low could be the end result if bears get follow through. Watching volume as we will need significant bear volume to break the 5 support we have from previous price action above $9k.
Still not actively trading this range and waiting for short term clarity. After the weak breakout attempt I would rather be a bear than a bull if forced to have a position in this current range.
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