Bulls Follow Through -Reach Daily Lower Highs
Hey guys, first of all to my American friends: Happy 4th of July! Freedom & Independence are very important. It was freedom from the government that has started the Bitcoin project. And many other peoples of the world still wish they had the independence that the Americans are celebrating today.
Bitcoin now reached previous Daily Lower Highs at the 6.800 range, after a healthy consolidation just like I anticipated yesterday: This is a very good sign for the bulls. But we did so without building a Higher Low on the Daily: Since the bottom we had only green candles & inside bars. So beware bulls: A Daily Higher Low will & must be coming at some point. And the 6.8000 range was a key resistance on the previous bear flag before we broke it. => I will be talking about this in today's episode of the 'Crypto Chart Analysis', make sure to watch it! ;)
We have right now clearly Daily EMA 12 as support, and are fighting to stay above EMA 26: Once we get a definitive stay above that, it could signal a similar bull run that we've seen from April. On the 4H we are clearly above both EMAs and have much room to consolidate to, especially with that key resistance now.
If you had some value from my analysis, please like & subscribe, I will be doing those daily from now on! I wish you a happy holiday & good trading! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
Bitcoin now reached previous Daily Lower Highs at the 6.800 range, after a healthy consolidation just like I anticipated yesterday: This is a very good sign for the bulls. But we did so without building a Higher Low on the Daily: Since the bottom we had only green candles & inside bars. So beware bulls: A Daily Higher Low will & must be coming at some point. And the 6.8000 range was a key resistance on the previous bear flag before we broke it. => I will be talking about this in today's episode of the 'Crypto Chart Analysis', make sure to watch it! ;)
We have right now clearly Daily EMA 12 as support, and are fighting to stay above EMA 26: Once we get a definitive stay above that, it could signal a similar bull run that we've seen from April. On the 4H we are clearly above both EMAs and have much room to consolidate to, especially with that key resistance now.
If you had some value from my analysis, please like & subscribe, I will be doing those daily from now on! I wish you a happy holiday & good trading! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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