BTC was hit with tether FUD yesterday, and broke some key daily supports.
We quickly were oversold on the 5, 15, hourly, and 4 hour charts.
The bounce that is playing out is not coming from any kind of climax, and is not like any prolonged bounce/reversal we have seen in this space in months.
Due to the lack of volume I am very skeptical of the bulls here.
We will need to see a 4 hour higher low and higher high over EMA resistances for any convincing proof of strength.
Looking for a top of this bounce to be found this morning before some further consolidation.
Loss of 15 min higher lows will likely indicate the top of the move is in for now.
We quickly were oversold on the 5, 15, hourly, and 4 hour charts.
The bounce that is playing out is not coming from any kind of climax, and is not like any prolonged bounce/reversal we have seen in this space in months.
Due to the lack of volume I am very skeptical of the bulls here.
We will need to see a 4 hour higher low and higher high over EMA resistances for any convincing proof of strength.
Looking for a top of this bounce to be found this morning before some further consolidation.
Loss of 15 min higher lows will likely indicate the top of the move is in for now.
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