DAILY :
For the third consecutive day, the BTCUSD closed, on a daily basis below the Tenkan-Sen (TS) or Conversion line; such kind of price
action should be seen as a additional warning signal of a ongoing bearish trend.
More over the last two trading days, triggered a "DOJI" pattern which is also a sign of uncertainty and indecision !
The first support target S1 (@ 49'240) I was calling for yesterday, has been reached with an intraday low so far @ 48'656.
Today's closing level should add more clues for the upcoming trading sessions.
Globally in this daily time frame, the broad picture remains bearish under the influence of several factors, such as the primary downtrend
line resistance, currently @ 54'177 which also coincides with the PIVOT LEVEL (Kijun-Sen or Base Line).
As already mentioned, on a daily basis closing level, only a clear sustainable breakout of the level previously mentioned would force to a view reassessment of
my expected bearish scenario, calling at least for a retest of former low around 42'000
H4 :
Watch the clouds !
For the time being the Kijun-Sen rejected several downside breakout attempts and the CHIKOU SPAN or Lagging line crossed over the Tenkan-Sen.
In term of trend in this time frame we can see a switch from a former uptrend which started form 42'000 towards a high so far of 52'000 to a new ongoing downtrend with its
downtrend line resistance currently around 50'700, which also coincides with the top of the 4 hours clouds.
A clear breakout of 52'000 would open the door for higher levels in activating a pullback towards the former uptrend support line, currently around 53'000-53'500, approaching the
KEY PIVOT LEVEL OF 54'177 ABOVE MENTIONED and which corroborate globally my technical analysis.
Do you like my work ?
Do you find it valuable for your ?
If your answer is YES, please do not forget to firstly like it and secondly do not forget to add Ironman8848 on your following list either.
Have a great trading day.
All the best and take care
Ironman8848 & Jean-Pierre Bürki
For the third consecutive day, the BTCUSD closed, on a daily basis below the Tenkan-Sen (TS) or Conversion line; such kind of price
action should be seen as a additional warning signal of a ongoing bearish trend.
More over the last two trading days, triggered a "DOJI" pattern which is also a sign of uncertainty and indecision !
The first support target S1 (@ 49'240) I was calling for yesterday, has been reached with an intraday low so far @ 48'656.
Today's closing level should add more clues for the upcoming trading sessions.
Globally in this daily time frame, the broad picture remains bearish under the influence of several factors, such as the primary downtrend
line resistance, currently @ 54'177 which also coincides with the PIVOT LEVEL (Kijun-Sen or Base Line).
As already mentioned, on a daily basis closing level, only a clear sustainable breakout of the level previously mentioned would force to a view reassessment of
my expected bearish scenario, calling at least for a retest of former low around 42'000
H4 :
Watch the clouds !
For the time being the Kijun-Sen rejected several downside breakout attempts and the CHIKOU SPAN or Lagging line crossed over the Tenkan-Sen.
In term of trend in this time frame we can see a switch from a former uptrend which started form 42'000 towards a high so far of 52'000 to a new ongoing downtrend with its
downtrend line resistance currently around 50'700, which also coincides with the top of the 4 hours clouds.
A clear breakout of 52'000 would open the door for higher levels in activating a pullback towards the former uptrend support line, currently around 53'000-53'500, approaching the
KEY PIVOT LEVEL OF 54'177 ABOVE MENTIONED and which corroborate globally my technical analysis.
Do you like my work ?
Do you find it valuable for your ?
If your answer is YES, please do not forget to firstly like it and secondly do not forget to add Ironman8848 on your following list either.
Have a great trading day.
All the best and take care
Ironman8848 & Jean-Pierre Bürki
