Bears still have full control as bulls are struggling with 15 min EMA resistance.
If we break the lower highs, we zoom out and watch hourly EMA resistance.
Best case for the bulls, we still are likely to form a 4 hour lower high on this bounce attempt and continue the pattern of 4 hour lower highs which has been intact since $8,000+.
Patient bulls are just waiting for a change in the 4 hour trend to see a short term bounce on the daily to set a lower highs.
Another leg down will see 4 hour RSI approaching 20.
I personally had bids in the $6,400s last night that gave an average of $6,450.
I have exited a portion small profit to remain conservative as it is counter-trend.
If we break the lower highs, we zoom out and watch hourly EMA resistance.
Best case for the bulls, we still are likely to form a 4 hour lower high on this bounce attempt and continue the pattern of 4 hour lower highs which has been intact since $8,000+.
Patient bulls are just waiting for a change in the 4 hour trend to see a short term bounce on the daily to set a lower highs.
Another leg down will see 4 hour RSI approaching 20.
I personally had bids in the $6,400s last night that gave an average of $6,450.
I have exited a portion small profit to remain conservative as it is counter-trend.
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