Ongoing selling pressure pushed the BTCUSD down towards the 41'000 area.
DAILY (D1)
Below the clouds and all Ichimoku lines ! Also below the Mid Bollinger.
RSI is still converging to the downside.
Next support level is the psychological 40'000 ahead of 39'575 former low of October where daily clouds rejected further downside, but this time the story is different as we are already far away below the clouds and therefore it is likely to see more downside in the coming sessions.
WEEKLY (W1)
Clear ongoing downtrend, currently testing the weekly clouds support with its bottom levels around 37'000 which also coincides with the Fibonacci extension retracement of 78.6% @ 37'324.
For the time being the Chkou-span has only crossed under the KIjun-Sen and is still above the Tenkan-Sen and the clouds too. Warning!! if the Chikou-Span cross under the clouds.. that would confirm further decline probably towards the 30'000-28'700 !!!
Have nice trading day !
Ironman8848. & Jean-Pierre Burki
DAILY (D1)
Below the clouds and all Ichimoku lines ! Also below the Mid Bollinger.
RSI is still converging to the downside.
Next support level is the psychological 40'000 ahead of 39'575 former low of October where daily clouds rejected further downside, but this time the story is different as we are already far away below the clouds and therefore it is likely to see more downside in the coming sessions.
WEEKLY (W1)
Clear ongoing downtrend, currently testing the weekly clouds support with its bottom levels around 37'000 which also coincides with the Fibonacci extension retracement of 78.6% @ 37'324.
For the time being the Chkou-span has only crossed under the KIjun-Sen and is still above the Tenkan-Sen and the clouds too. Warning!! if the Chikou-Span cross under the clouds.. that would confirm further decline probably towards the 30'000-28'700 !!!
Have nice trading day !
Ironman8848. & Jean-Pierre Burki
