4H Equilibrium Fail
We broke to new lows yesterday, breaking the 4H equilibrium pattern.
I'm currently watching a new pattern forming, which is a falling wedge (a bullish pattern), which should break in the next 2-3 days.
If we break bullish, we should be testing the resistance of the prior swing high in the near future around $13,000-14,000.
Currently, there is a lot more room to move to the upside than the downside as RSI is pretty low. Bear pushes aren't getting much follow through, which is a good sign for the bulls.
Anything above $8,900 is a higher low on the daily chart and uptrend stays intact.
I'm currently watching a new pattern forming, which is a falling wedge (a bullish pattern), which should break in the next 2-3 days.
If we break bullish, we should be testing the resistance of the prior swing high in the near future around $13,000-14,000.
Currently, there is a lot more room to move to the upside than the downside as RSI is pretty low. Bear pushes aren't getting much follow through, which is a good sign for the bulls.
Anything above $8,900 is a higher low on the daily chart and uptrend stays intact.
Penafian
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