In my last video update, I said if price broke down, it’d likely find support at the $4.73-$4.67 demand zone. Yesterday price did collapsed into that demand zone...and the bulls where waiting to defend it. Bulls hit back hard enough to push price back into the originating order block. From this point I’m expecting consolidation before the next larger move.
The 4 hour RSI is testing resistance.
Looking at the 4 hour chart, we see price is finding resistance at the 21 day EMA. If it can break above, we could see a momentum shift in favor of the bulls...at least in the short term.
In today’s video analysis, I discuss what to expect over the next week, traps to avoid, possible trade setups and MUCH more information not found above. I hope you find it helpful.
Video Analysis:
If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.
BIAS:
Short Term: Neutral
Longterm: Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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by Workin2005
