BTC/USD 1D - Currently hanging around the 50D EMA, not much of a reversal pattern or any signs of support at this level.
BTC/USD 12H - Momuntum for shorters is finishing, likely to see some sort of bounce in this area, just to relief the constant pressure we had for past days.
BTC/USD 4H - Looking for a pump to hoepfully break us out of the local down trend, around $9,600 should be an early break out.
BTC/USD 1H - Would like to see the Ichimoku Cloud being pierced on the hourly, currently being held back by the Ki-Jun
Overall we have reached a level at which a lot of buys started coming in, this could be an early reversal or another bull trap.
I would suggest lower positions and hedging when you can, personally looking at $10,000 as an early sign of possible reversal back to bullish.
Market : Bouncing
Trend : Down
Plays : Bounces and retraces on confirmed break outs.
BTC/USD 12H - Momuntum for shorters is finishing, likely to see some sort of bounce in this area, just to relief the constant pressure we had for past days.
BTC/USD 4H - Looking for a pump to hoepfully break us out of the local down trend, around $9,600 should be an early break out.
BTC/USD 1H - Would like to see the Ichimoku Cloud being pierced on the hourly, currently being held back by the Ki-Jun
Overall we have reached a level at which a lot of buys started coming in, this could be an early reversal or another bull trap.
I would suggest lower positions and hedging when you can, personally looking at $10,000 as an early sign of possible reversal back to bullish.
Market : Bouncing
Trend : Down
Plays : Bounces and retraces on confirmed break outs.