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!
Note
I wouldn't rule out a further pull back so be careful.Note
Reclaim of 11.8k as of 13:30 and climbing. Let's hope this is the real thing this time.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.