The lower time frame Ichimoku is indicating to me that we may have some short term shift in sentiment to the upside, especially considering how we have started the month on a small increase in price.
Using the weekly Kijun Sen I would be looking at some resistance at the $42,500 zone and would wait for the weekly close before I change my overall bias on BTC. The daily Tenkan is also located in the zone. I still believe we will drop lower to the $29,500 region.
In any case, it is going to be an interesting one to watch with the Biden administration reading the Executive Order for release this week.
Trade Safe - V
Using the weekly Kijun Sen I would be looking at some resistance at the $42,500 zone and would wait for the weekly close before I change my overall bias on BTC. The daily Tenkan is also located in the zone. I still believe we will drop lower to the $29,500 region.
In any case, it is going to be an interesting one to watch with the Biden administration reading the Executive Order for release this week.
Trade Safe - V
Comment:
A short-term target has been reached.