BTC Hourly Bear Flag Battle
Weak bounce attempt that did not even test EMA resistance on the 4 hour. It is currently a bear flag fading back to test the recent lows, and the only hope for the short term bulls is to hold support, break the high of the bounce, and get over 4H EMA resistance.
From there we would just zoom out and look for a 12H lower high to form with its own EMA resistance which has been the case the last 3 bounce attempts.
None of my deep bids filled so I have pulled the higher ones as RSI levels cool off and now I continue to patiently wait on the sidelines! Bears are patiently waiting for the next 12H lower high to try and scale in.
From there we would just zoom out and look for a 12H lower high to form with its own EMA resistance which has been the case the last 3 bounce attempts.
None of my deep bids filled so I have pulled the higher ones as RSI levels cool off and now I continue to patiently wait on the sidelines! Bears are patiently waiting for the next 12H lower high to try and scale in.
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Penafian
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