Ironman8848

BTC - H1 - BREAKOUT OF 55'000 TRIGGERED A SHARP MOVE !

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
H1 : Against my expectation, sorry guys,,, the BTC clearly broke the top of the H1 clouds
@ 55'000 an went up in one way towards a high so far of 57'443.
Nevertheless, I told you that a sustainable move above 55'000 would force a view reassessment !!!
So what next ?
D1 : Clouds top breakout in progress and Mid Bollinger Band too. (should be confirmed on a D1 closing later on today !)
A daily closing above 56'500 would be seen as a BULLISH signal
H4 : Breakout out the clouds and the Mid Bollinger Band triggered a sharp upside move filling on its way the 50 % Fib ret
of the 64895-47004 downside move.
R1 : 58'060
S1 : 54'700
H1 : After this sharp rally, first signal of a short term reversal is taking place !
On the downside : first significant support @ 55750
On the upside : former high @ 57'443
M15 : Looks like a top is in progress but there is no bearish divergence yet
Watch carefully price action over the coming H15 and H1 periods to get validation or invalidation
of a top in place.

Have a nice evening.
Ironman8848

Technical analyst Expert since 1991. Member of the Swiss Association of Market Technicians (SAMT).
https://ironman8848.com/private-analysis/