Well , seems we have a classic spinning top candlestick on the Bitcoin 1 day chart . I recently did a chart showing the Gann Fan as well as the CME futures gap on Bitcoin near 118xx which already filled . But now we have what looks like a reversal candlestick . When a candlestick has a very small body evenly in the middle of two long wicks it's called a spinning top - and if it comes after an uptrend then it usually signals a reversal of that trend ( and that we would see some downside .) Same if it came at the end of a downtrend it would signal a reverse to the upside coming.
So we look to our supports below us - 112xx ? 10500 ? Also don't forget we have a CME futures gap below us around 96xx/97xx
Maybe we are going there before we see and more retrace up to this local top near 12k .
So we look to our supports below us - 112xx ? 10500 ? Also don't forget we have a CME futures gap below us around 96xx/97xx
Maybe we are going there before we see and more retrace up to this local top near 12k .
