BTC/USD A look into todays bounce
BTC/USD 1D Huge volume spike on the daily, with it bouncing off the $6,000. Would like to see momunutm pish above previous day high which is currently at $8,500. If not the daily TD completes it's 9 tomorrow with a possible bottom support level around $5,500.
BTC/USD 6H TD played out with a 9 doji reversal, currently pulling up, good momuntum but we have to see lower time frame in order to confirm its movement.
BTC/USD 4H Being denied by the Tenken Resistance, A break above it may allign for a 9 Count 6H push to about $9,000. Would like to see consolidation above $7,000 to make the push without losing strenght.
BTC/USD 1H Currently on top of Ki-Jun, but failed to make it to the cloud, a retrace of the move, with RSI showing sell pressure is expected. A bounce off $7,000 would be a bullish sign. A drop below $6,400 may give bears the chance to break down for the day and push to a new lower low.
Overall BTC volume was the strongest we had so far and could be a sign of an early reversal. However the bounce was not on a proper support, and could lead to another quick bull trap, which will fuel a push to lower low.
Expecting $9,000 Inverse HnS play
Or $5,000 refueled bear play
BTC/USD 6H TD played out with a 9 doji reversal, currently pulling up, good momuntum but we have to see lower time frame in order to confirm its movement.
BTC/USD 4H Being denied by the Tenken Resistance, A break above it may allign for a 9 Count 6H push to about $9,000. Would like to see consolidation above $7,000 to make the push without losing strenght.
BTC/USD 1H Currently on top of Ki-Jun, but failed to make it to the cloud, a retrace of the move, with RSI showing sell pressure is expected. A bounce off $7,000 would be a bullish sign. A drop below $6,400 may give bears the chance to break down for the day and push to a new lower low.
Overall BTC volume was the strongest we had so far and could be a sign of an early reversal. However the bounce was not on a proper support, and could lead to another quick bull trap, which will fuel a push to lower low.
Expecting $9,000 Inverse HnS play
Or $5,000 refueled bear play
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