Critical Resistance 12.3K to 12.8K. If surprassed, we aim for 14.5K. I am BULLISH short term
Support has been found. We see a beautiful dragonfly doji formed on the daily close. A dragonfly doji implies throughout the day, a war was waged between the bulls and bears. The bears have attempted a massive attempt to drive prices down, but the bulls have successfully defended which is shown by a long wick.
The market psychology behind a dragonfly doji is that the bulls are slowly regaining control, but not fully and entirely yet.
There is the bullish scenario where we have is breaking the critical resistance between 12.3 to 12.8k, and heading to 14.5-15k. The bearish scenario is we fail at the critical resistance and correct further to 8-9k regions.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - Tutorial Part 2 How to Analyze Candlesticks Charts with Strategy
Lesson 3- Let's learn Moving Averages
Lesson 4- Let's Learn Relative Strength Index RSI with Advanced Strategy
Lesson 5 Let's Learn MACD and Histogram
Lesson 6 Let's Learn Margin Trading Long, Short, Leveraging
Lesson 7 Let's Learn Basic Risk Management
Lesson 8 Let's Learn Fibonacci Retracement Part 1
Lesson 9 Let's Learn Fibonacci Extension Part 2
Lesson 10 Quick Intro to Analyzing Level 2
Lesson 11 Introduction to Laddering
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