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4.21 Tuesday morning big-charts (BTC) outlook: short first within the day
Yesterday’s overall price action was mainly driven by the bulls. After dipping to 736 in the morning, it kept climbing. This rally continued until around midnight, when it peaked at 765 and then met resistance and pulled back. The upward move came along with some room for a pullback, so yesterday’s high short also had a short-term small win.
As of now, the short-term push higher has temporarily come to a stop. On the four-hour chart, the short-term shows five consecutive bullish candles rising. After breaking the middle band, it left quite a few long upper wicks, which means it hasn’t managed to extend much further. This suggests heavy resistance overhead. Currently, the short-term resistance is 765. Don’t chase longs at high levels; first focus on a pullback move within the day.
For the morning big-charts (BTC) reference, short around the 760 zone, looking down toward 750-740. If it doesn’t keep going lower after that, then consider going long.