$1000 fakeout!
In the 45min(scalping group), price action bounced down from the basis(the green dotted) indicating a fakeout. I think it will bounce down until 27K possibly 24k(basis in the weekly timeframe) and form a new trading range. I cannot comment on whether it may bounce up on resume downward motion, but I'd say the odds are that we go down.
Note: if we go down below 28K, the weekly would form a gravestone doji scaring a tonne of people who just go by candlestick patterns.
I'm using "Bollinger Bands Fibonacci ratios" by Shizaru available in the public library, you may use Bollinger bands(bad ass) by WyckOffMode too and I recommend you watch his videos(I personally consider him as my online mentor)
Note: if we go down below 28K, the weekly would form a gravestone doji scaring a tonne of people who just go by candlestick patterns.
I'm using "Bollinger Bands Fibonacci ratios" by Shizaru available in the public library, you may use Bollinger bands(bad ass) by WyckOffMode too and I recommend you watch his videos(I personally consider him as my online mentor)
Note
Looks like price action will move side ways maybe for 12-24 hours before possibly moving back down.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.