Any longer term projections? You think this just a dead cat bounce before a longer term pullback?
The daily price action is reminiscent of the first week of June. Annoying, since both times the daily candle closed strongly above resistance, then failed the next day.
Im not really that much of on a concern when making up conclusions or presumptions on lower Timeframes thats why i cant really make up some bias between TF's yet
we know that long term runs will be most likely can be plot out on higher TF's. Scalping would really be ideal on 15m below but it wont really fit out for us to tell on what would be the movement for long term.
Once again we are under $12k price, I know it was a great period when we reached above $12k but it was a quick increase and a quick fall, so it wasn't something that we could stay for a long period of time, I guess this correction shows that we are not ready for $12k price just yet, we are ready for increases but we are not ready to keep those increases high, we just fall right back.
There would be always a sell-off level and we cant just expect to have continuous price increase.
