Just like the title suggests.
There's a slight change of balance taking place in this market, with the current above average-sized bullish candle.
If you've been following my work, you know by now that I am a 1M timeframe lover ... whose perspective could turn out to be extremely helpful for all the day traders out there.
Note of course, that the patterns you see on the lower time frames are just as recurrent in the higher time frames. (Benoit Mandelbrot - Nobel Prize - highly recommended)
And the patterns and trends you see in the higher time frames, tend to override the ones from the lower timeframes.
Which means that this analysis can do wonders in determining value areas, target areas and trading biases for the lower timeframes.
This market is no exception, and this market has two ostensible things to say about the upcoming obstacles for the bulls in this market.
1. Key EMAs right above the price - around 24k $.
2. Strong Supply Area in the 30-35k $ threshold.
I know what to do with this info, but my bias and inclinations on how, when and how much to trade or not trade are 100% certainly different from yours. So you do with this information what you please. :)
Cheers,
Ruben
There's a slight change of balance taking place in this market, with the current above average-sized bullish candle.
If you've been following my work, you know by now that I am a 1M timeframe lover ... whose perspective could turn out to be extremely helpful for all the day traders out there.
Note of course, that the patterns you see on the lower time frames are just as recurrent in the higher time frames. (Benoit Mandelbrot - Nobel Prize - highly recommended)
And the patterns and trends you see in the higher time frames, tend to override the ones from the lower timeframes.
Which means that this analysis can do wonders in determining value areas, target areas and trading biases for the lower timeframes.
This market is no exception, and this market has two ostensible things to say about the upcoming obstacles for the bulls in this market.
1. Key EMAs right above the price - around 24k $.
2. Strong Supply Area in the 30-35k $ threshold.
I know what to do with this info, but my bias and inclinations on how, when and how much to trade or not trade are 100% certainly different from yours. So you do with this information what you please. :)
Cheers,
Ruben
