Ironman8848

Ironman8848

Looking briefly at the ongoing weekly time frame picture we can see a TRIANGLE PATTERN IN PROGRESS and a recent price action attempting to downside breakout the WEEKLY CLOUDS SUPPORT LEVEL (37'516) intraweek low being @ 37'169. RSI is below 50,@ 41.76 LAGGING LINE is roughly in the middle of the CLOUDS UPCOMING WEEKLY CLOSING LEVEL WILL BE VERY...

Ironman8848

DAILY (D1 ) Yesterday's price action triggered a LONG WHITE CANDLE which intraday broke briefly the top of the DAILY CLOUDS RESISTANCE AREA (@ 42'524) but failed to hold and more important to close above it ! Today's ongoing price action is, currently showing the level of the BITCOIN, below the bottom of the daily clouds and below the TENKAN-SEN (41'250) too,...

Ironman8848

Indeed, a strong recovery took place early in the morning following "a NEWS" and this could be interpreted as a "BUY the news and SELL THE FACT" ! The Bitcoin recovered in short period of time (less than 2 hours !) from 39'400 towards an intraday high so far of 41'896.37, in filling on its way up the 38.2% and the 50 % Fibonacci retracement, respectively @...

Ironman8848

WEEKLY (W1) $ Last week price action triggered an INVERTED HAMMER PATTERN, which usually should be seen as a bullish warning signal; nevertheless, in this case, I would remain very cautious before to conclure that the downside pressure is over and we can see a STRATEGIC TREND REVERSAL ; the weekly closing level @ 38'438 was below the TENKAN-SEN ! Indeed, the...

Ironman8848

FIRST BREAKOUT ON A WEEKLY CLOSING BASIS OF THE DOUBLE BOTTOM TRIGGER LEVEL @ 1'919 (WEEKLY CLOSING WAS 1966.60) PULLBACK ON RSI HOLD AND RECOVERED; currently above 50 @ 68.21 LAGGING LINE ABOVE FORMER HIGH = positive signal too On the downside the first support to look at is at 1'878 (TS) ahead of 1'848 (KS) and MBB @ 1'827 which is also the top of the...

Ironman8848

WEEKLY (W1) Currently in a STRATEGIC DOWNTREND , roughly in the middle of the weekly clouds support area ! Ongoing weekly candle is, as for the BTC in progress for a potential INVERTED HAMMER , which of course should be validated or invalidated by the current candle closing ! During this week, the Ethereum failed to recover and hold above the TENKAN-SEN @...

Ironman8848

Looking briefly at the WEEKLY picture, a potential INVERTED HAMMER is in progress which usually is considered as a REVERSAL PATTERN (Wait weekly closing for confirmation of this pattern) In addition watch carefully the bottom of the weekly clouds support area @ 37'516, already tested once this week; a failure to hold above that level on a weekly closing too would...

Ironman8848

Yesterday's price action triggered a NEW LONG BLACK CANDLE which closed below the daily clouds @ 39'175 (intraday low @ 38'590) Currently below both the TENKAN-SEN @ 41'174 and the MID BOLLINGER BAND @ 40460 RSI below 50, @ 44.82 LAGGING LINE testing the KIJUN-SEN ! And last but not least, yesterday's closing was also below the former downtrend...

Ironman8848

The technical target (41'108) of the double top formation mentioned yesterday in my previous analysis has been filled (intraday low @ 41'077). Yesterday's price action, third black candle in a row is confirming the expected trend reversal. The BTC is currently , roughly in the middle of the DAILY CLOUDS SUPPORT AREA, close to the MID BOLLINGER BAND @ 40'729...

Ironman8848

GLOBAL PICTURE DAILY (D1) After having reached, yesterday, an intraday high @ 35'332 and nearly achieved a full Fibonacci retracement (former high @ 45'850), the BTC lost momentum and as a result, closed slightly above the middle of the previous white candle which mean, that yesterday's price action, roughly triggered a DARK CLOUD COVER (Bearish warning...

Ironman8848

Looking at the intraday hourly price action, a TRIANGLE PATTERN has been identified ! Indeed, after having reached a high @ 44'981 which triggered a RSI BEARISH DIVERGENCE, the BTC moved in a sideways, slightly down price action, in making a TRIANGLE PATTERN which is currently in a downside breakout progress (watch pullback !) which will validate or...

Ironman8848

As mentioned in my previous analysis, shorter time frames should be used to validate or invalidate the expected scenario and in the case of the Bitcoin yesterday's price action has really been a school case... Indeed, the BTC went sharply up and broke successfully the resistance levels on each intraday and daily pictures. FOR THE TIME BEING, THE BITCOIN IS...

Ironman8848

WEEKLY (W1) Looks like a corrective move which should, for the time being, be seen as a consolidation phase or pullback towards the triangle pattern breakout level ! Indeed, looking at the weekly picture, we can identify two important support levels, which are the following : S1 : 1.7960 (Tenkan-Sen) also roughly the 38.2% Fib ret (@ 1.7850 % of the last...

Ironman8848

WEEKLY (W1) Last week price action triggered a sharp decline which reached nearly my technical target @ 12'894 (low being @ 13'015). After having briefly broken the weekly clouds support, the Nasdaq recovered nicely (HAMMER) and closed roughly at the top of the week @ 14'180 (high being 14'196). Nevertheless, it failed to cross over the secondary downtrend...

Ironman8848

WEEKLY (W1) Another high volatility price action seen last week between a low of 34'324 and a high of 40'330... which provided, several TACTICAL TRADING OPPORTUNITY IN A BROAD BEAR TREND WHICH RESTARTED TWO WEEKS AGO @ 45'850 !!! Failure to hold above the psychological 40'000 and close above 40'225 which is the middle level of the previous weekly long black...

Ironman8848

WEEKLY (w1) The 50% Fibonacci retracement @ 40'087 of the last downside move (45'850-34'324) has been filled , intra-day high being 40'330. Upcoming weekly closing level will be very important for further development; indeed, a weekly closing above 40'225 would trigger a PIERCING LINE PATTERN, which would be a first positive bullish signal for the next...

Ironman8848

Sharp rally seen yesterday which pushed the Gold Futures to an intraday high @ $ 1'976.50. An healthy corrective and consolidation move took place and this recent price action should be seen as a constructive price action calling for further upside over the upcoming trading sessions. Tenkan-Sen @ 1'911 should be the first level to look at on a daily closing...

Ironman8848

As expected and mentioned in my previous analysis published yesterday morning we saw an increasing volatility which triggered a trading range between 34'324 reached early yesterday morning towards an intraday high @ 39'720. WEEKLY (W1) Main levels to look in this weekly time frame remains : UPSIDE : 42'524 /43'673 DOWNSIDE : 37'365 DAILY (D1)...