Congrats bulls, we saw days of tightening 4 hour consolidation before the clear equilibrium break and move over $9,000.
The initial spurt was shorts covering and bulls buying the break, but the gains have held slow and steady all night.
We will need to see 4 hour consolidation to form another higher low sooner rather than later.
This position does not favor bull entries up here for risk/reward.
If you are currently in a position you can use hourly higher lows or wait for a new 4 hour higher low as your guide for when to exit.
I personally traded ETH on this most recent bull break, slowly scaling out half this morning to lock in the 3rd solid trade of this daily bull move.
We know daily consolidation is coming, but trying to guess if it will happen here or at $9,500 is just a guess.
Bears will have to PROVE they are shifting momentum for us to be looking in that direction.
The initial spurt was shorts covering and bulls buying the break, but the gains have held slow and steady all night.
We will need to see 4 hour consolidation to form another higher low sooner rather than later.
This position does not favor bull entries up here for risk/reward.
If you are currently in a position you can use hourly higher lows or wait for a new 4 hour higher low as your guide for when to exit.
I personally traded ETH on this most recent bull break, slowly scaling out half this morning to lock in the 3rd solid trade of this daily bull move.
We know daily consolidation is coming, but trying to guess if it will happen here or at $9,500 is just a guess.
Bears will have to PROVE they are shifting momentum for us to be looking in that direction.
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social