After a bearish reaction to the Bithumb hack, we have a clear uptrend on the 4 hour that bulls need to hold to continue to have hopes of breaking daily EMA resistance.
If we lose this support we will look back towards the low $6,000s.
Previous support is now acting as resistance on a weak bounce attempt.
Lots of bears have entered positions in our sample group of traders, and bulls have little momentum to force any covering.
Hourly EMAs were lost as support and now they are acting as resistance.
As I am only trading bullish on GDAX, I am personally patient and all cash focused on other opportunity as WEED goes for all time highs today on Canada official legalization.
If we lose this support we will look back towards the low $6,000s.
Previous support is now acting as resistance on a weak bounce attempt.
Lots of bears have entered positions in our sample group of traders, and bulls have little momentum to force any covering.
Hourly EMAs were lost as support and now they are acting as resistance.
As I am only trading bullish on GDAX, I am personally patient and all cash focused on other opportunity as WEED goes for all time highs today on Canada official legalization.
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