BTC Update!
Jumping off yesterdays chart I was watching daily equilibrium pattern taking shape. Spoke about both bull and bear scenarios. Obviously we got the bear break and I am in process of personally making some small entries on this bear break to ideally play some type of bounce.
So pattern wise the daily equilibrium tightened up a bit and gave lower high of $7680 and then a higher low of $7536 that I was watching today. We bear broke and crashed through a few support areas. So I then shifted to my 4 hour chart to find potential scaling in positions. Not seeing a strong bounce thus far and still have not re-tested bottom of triangle pattern on daily altho came pretty darn close. Bulls ideally want that to hold and certainly want our higher low of $7058 to remain in tact.
I still do not believe we can confirm that is our higher low yet for weekly chart as same as yesterdays chart, I needed to see the daily pattern break to a higher high off equilibrium to give confirmation for our weekly higher low and it failed to do that.
Anyone fishing for entries should be cautious of bear flags to cool off the RSI's and just drop another leg down. Catching bottoms is very difficult so will always keep heavy cash position personally to play damage control or wait for confirmation on entries (higher lows and higher highs on 15 min and then hourly charts).
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