On the weekly BTC finds itself within a thick ichimoku cloud . Bulls will like to test the upside boundary of the ichimoku cloud , but a correction to the downside seems likely. If we test 6530 support and hold then we will restart the upwards movement. On the contrary if we fall below 6530 then BTC heads back to 3500-4500 area.
Trade closed: target reached:
BTC has bounced nicely off my target of 6530. But this support might get tested again. Meanwhile, I am out of my short position.