Yesterdays chart we were watching the expected tight range of $11,0888-11,585 and potential setup for a small equilibrium. We traded within that range all day and really have traded within a 3.5-4% range for 40 hours now. Volume slows down and really just nothing of interest to traders. We established a lower high yesterday it appears at $11,456 and now this morning dipped down to $11,158. Bulls continue to desperately try and defend $11k so I am now watching this tightening range between $11,158-11,456 with continued expectation that $11k will cave. As always, have a plan for either direction. If bulls can step up and get us back above $11.5k then I'd personally look at some scaled in entries on any consolidation from there.
We were also watching EMA resistance on 4 hour chart and EMA support on daily chart yesterday. Both are still in tact but bulls struggling to hold daily EMA support currently. As this range tightens up, I do expect a break today or tomorrow so will keep a watch on volume as well.
Just My 2 Sats!
We were also watching EMA resistance on 4 hour chart and EMA support on daily chart yesterday. Both are still in tact but bulls struggling to hold daily EMA support currently. As this range tightens up, I do expect a break today or tomorrow so will keep a watch on volume as well.
Just My 2 Sats!
