BTC Bulls Need to Regain Short Term Momentum

23 сент. 2019 г.

Over the last 17 days, 15 of them have seen a lower high compared to the previous day for BTC. With that fact it is pretty impressive we are still holding up within the tightening pattern, but bulls must show up and regain a 4 and 12 hour uptrend if they hope to remain in this pattern through this week.

We are slowly fading back down to our recent low, which has little space before $9,321 and 9,000 must hold levels for bulls. Daily RSI is close to breaking under 40, which means if we were to get a bear break this week, daily RSI would get oversold fairly quickly.

Alts coin bulls are hoping for BTC to remain within this range as well, as that has allowed some independent bullish action. LTC and ETH are both looking for daily higher lows, and BTC changing the 4 hour trend would only help that occur in my opinion. LTC is one step ahead of ETH in finding the daily higher low, as we have broken the high of yesterday.