Ironman8848

BTC - H1/M15 - TRADING IN THE ZONE - AT A GLANCE

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
H1 : Caught in a sideways range (52630 – 54400) and still above MBB (53673).
A failure to stay and hold above MBB
would open the door for the 23.6 % fib ret @ 52658 ahead of 51’577.
On the upside, a breakout of the former high @ 54’405 would be the first signal of a switch
from a short term sideways (neutral) price action to a bullish one !

M15 : An Head and Shoulder pattern is in progress. For the time being, BTC is still
above the clouds which once again worked perfectly well in rejecting, yesterday’s evening a downside breakout attempt around the 52630 level which was roughly, also the 23.6% Fib ret above mentioned.

CONCLUSION :
M15 : Watch carefully Mid Bollinger Band and the clouds as short term leading indicators
H1 : Watch 53’060 as the first support

Technical analyst Expert since 1991. Member of the Swiss Association of Market Technicians (SAMT).
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