H1 : Low so far @ 48338, near the H4 triangle target @ 48232.
After this sharp decline it is obvious to see some recovery attempt
that we are seing now.
Nevertheless, for the time being such kind of rebound should still be
seen as a corrective move only with a relatively limited upside potential.
Indeed, in order to confirm a sustainable "recovery", BTC should quickly
recover, firstly above the 52220 area (former congestion support-4 succesive dojis)
and secondly above the Mid Bollinger Band @ 52975.
A failure to do it, would confirm a downside move continuation, calling for 48232 ahead
of lower levels.
Last but not least, in H1 time frame, indicators are still converging to the South !
M15 : Ongoing recovery attempt process, watch Mid Bollinger Band, currently @ 51172 as the
first significant resistance level.
In order to neutralise the ongoing bearish pressure, BTC should recover and hold above 52250
(former double top in M15)
On the downside, same as mentioned above for H1
Have a nice trading day.
All the best and may your long goes up and your short goes down and do not forget the market is always right :-)
Finally, if you find my analysis, valuable for you, please do not hesitate to like it and if not done yet, add my on your following list .
After this sharp decline it is obvious to see some recovery attempt
that we are seing now.
Nevertheless, for the time being such kind of rebound should still be
seen as a corrective move only with a relatively limited upside potential.
Indeed, in order to confirm a sustainable "recovery", BTC should quickly
recover, firstly above the 52220 area (former congestion support-4 succesive dojis)
and secondly above the Mid Bollinger Band @ 52975.
A failure to do it, would confirm a downside move continuation, calling for 48232 ahead
of lower levels.
Last but not least, in H1 time frame, indicators are still converging to the South !
M15 : Ongoing recovery attempt process, watch Mid Bollinger Band, currently @ 51172 as the
first significant resistance level.
In order to neutralise the ongoing bearish pressure, BTC should recover and hold above 52250
(former double top in M15)
On the downside, same as mentioned above for H1
Have a nice trading day.
All the best and may your long goes up and your short goes down and do not forget the market is always right :-)
Finally, if you find my analysis, valuable for you, please do not hesitate to like it and if not done yet, add my on your following list .
