Bitcoin 4 Hour Inside Bar

Bitcoin has formed a 4 hour inside bar. There is a trade opportunity on the break of this bar either way. On a bull break of the previous bar we can buy a position looking for an opportunity for a higher high on the 4 hour chart. With a bear break of the previous bar we can scale in looking for a lower low to play the bounce. If taking a trade we always suggest establishing a stop loss to minimize risk. Odds currently favor the bears as we are closer to a bear break of the previous bar.

4Hour Inside Bar: