After enough consolidation to be looking for a daily higher low, bulls are trying to put a stop to the consolidation by basing out the last 16 hours. We need to see a bounce to be looking for a 4H lower high... and the 4H trend change will eventually be needed to see the daily higher low set.
Looks like many alts are in the same boat looking for a daily higher low to be set. We will only have red flags for bulls in the sector if the higher lows are lost... but it is certainly hard to be too optimistic until BTC can change the daily trend itself, which has yet to happen for bulls.
Still in my LTC position, sitting just above break even, but trimmed it in half when BTC was unable to break resistance and it became more clear consolidation was the likely result.
Looks like many alts are in the same boat looking for a daily higher low to be set. We will only have red flags for bulls in the sector if the higher lows are lost... but it is certainly hard to be too optimistic until BTC can change the daily trend itself, which has yet to happen for bulls.
Still in my LTC position, sitting just above break even, but trimmed it in half when BTC was unable to break resistance and it became more clear consolidation was the likely result.
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