Bitcoin re-evaluation, New outlook.
Updated
I am rethinking my strategy and targets ( 
) as volume has been disappointing. we can see that 6300$ is a very tough resistance to break. We had 2 wicks through it but never closed above it.
why 6300 region is tough barrier to break:
- Tenkan 1D
- Kijun 12H
- 0.5 fib retrace
why 6300 might break:
- have been poked 5 times in 1H, which makes it weaker
- 12H RSI holding very bullishly
- lower 6.2k have printed instant lower wicks
- current price is sitting on 0.65 fib retrace.
Plan:
- keep watch on volume
- move stop to profit
- if dialy closes red, high wick, or shows more weakness.. take profit and wait for another entry.
Analyze daily
AresTrade
why 6300 region is tough barrier to break:
- Tenkan 1D
- Kijun 12H
- 0.5 fib retrace
why 6300 might break:
- have been poked 5 times in 1H, which makes it weaker
- 12H RSI holding very bullishly
- lower 6.2k have printed instant lower wicks
- current price is sitting on 0.65 fib retrace.
Plan:
- keep watch on volume
- move stop to profit
- if dialy closes red, high wick, or shows more weakness.. take profit and wait for another entry.
Analyze daily
AresTrade
Comment
some 1H bullishness.Comment
^^^^ i meant tenkan lol
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