BigChonis

Daily candle rejection on Combo tweezer candles

BITSTAMP:BTCUSD   Bitcoin
A couple things of note on the daily chart I don’t see yesterdays candle as a shooting star but rather a combo tweezer rejection along with the previous days candle in the $11,200 area finding similar back to back daily resistance and then closing under $11K. The daily candle did close with a higher high which does give some strength to the bulls as we start a new day a price action. Bulls however need to overcome this established resistance level above $11K. Overall bitcoin did close inside upper BB and is still way above any meaningful near term supports giving lots of room lower to find any meaningful support, should make for a lot of volatility this week...trade safe , Chonis...

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