10/08/2020
Updated
Yet again another rejection from the $12,000 mark.
On the 1 hour chart, the wick came down just below 11.5K, and perfectly bounced off the baseline of the Ichimoku Cloud. This was a shakeout, 5 mins and retraced back up.
The RSI had been over extended and very little resistance above so I was expecting this long order shakeout. When we settle, IMO around the 11.7/11.8K mark, I believe we will consolidate for a little while. The dump was needed to reset the indicators I do think.
I hope no-one got REKT!
On the 1 hour chart, the wick came down just below 11.5K, and perfectly bounced off the baseline of the Ichimoku Cloud. This was a shakeout, 5 mins and retraced back up.
The RSI had been over extended and very little resistance above so I was expecting this long order shakeout. When we settle, IMO around the 11.7/11.8K mark, I believe we will consolidate for a little while. The dump was needed to reset the indicators I do think.
I hope no-one got REKT!
Comment
I wouldn't rule out a further pull back so be careful.Comment
Reclaim of 11.8k as of 13:30 and climbing. Let's hope this is the real thing this time.
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