Hopefully everyone enjoyed the weekend!
A few days ago I posted about being cautious as we sat up in the mid $3600's after the initial bear break. To me it was likely just a bear flag and we were waiting for our next leg down. We finally got that and bottomed down at $3482 yesterday. Bulls have bounced up towards $3550 here but thus far a rather unimpressive bounce and could easily be our next bear flag and then another leg down. 4 hour chart continues to be my go to at this time and our EMAs have served as nice guides for break down of price and now serving as rejection of price. Continuing to monitor lower highs and lower lows and really no interest in trying to trade these small and unimpressive bounces.
Just My 2 Sats!
A few days ago I posted about being cautious as we sat up in the mid $3600's after the initial bear break. To me it was likely just a bear flag and we were waiting for our next leg down. We finally got that and bottomed down at $3482 yesterday. Bulls have bounced up towards $3550 here but thus far a rather unimpressive bounce and could easily be our next bear flag and then another leg down. 4 hour chart continues to be my go to at this time and our EMAs have served as nice guides for break down of price and now serving as rejection of price. Continuing to monitor lower highs and lower lows and really no interest in trying to trade these small and unimpressive bounces.
Just My 2 Sats!
