BTC Bears Still in Control
So 9 ETFs were rejected, and the market did not dump as we anticipated it would not.
At this point the bears still have control unless the bulls can set a 4 hour higher low and higher high,
to bring the price back to the $6,700 range.
While the bears are not getting the dump they wanted, they are also not seeing much pressure to be forced to cover.
At this point the bulls COULD apply pressure and the bears may be a bit more skidish thinking "Well if we did not dump on the ETF what else do the bears have to look forward to short term" but note that unless the bulls can see some continued 4 hour higher lows and higher highs, there is no sense of urgency for shorts to cover.
We are watching for a tightening 4 hour range today and a volume spike and break sometime in the next 12-24 hours.
I personally played the bull move as I suggested I may in the video last night, with a market buy and then immediately started to lock in some profit. Ended up a small win but it was a great low risk to try and get in on some short squeeze that did not end of playing out.
At this point the bears still have control unless the bulls can set a 4 hour higher low and higher high,
to bring the price back to the $6,700 range.
While the bears are not getting the dump they wanted, they are also not seeing much pressure to be forced to cover.
At this point the bulls COULD apply pressure and the bears may be a bit more skidish thinking "Well if we did not dump on the ETF what else do the bears have to look forward to short term" but note that unless the bulls can see some continued 4 hour higher lows and higher highs, there is no sense of urgency for shorts to cover.
We are watching for a tightening 4 hour range today and a volume spike and break sometime in the next 12-24 hours.
I personally played the bull move as I suggested I may in the video last night, with a market buy and then immediately started to lock in some profit. Ended up a small win but it was a great low risk to try and get in on some short squeeze that did not end of playing out.
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Penafian
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