BTC - D1 - YESTERDAY'S PRICE ACTION TRIGGERED A "DOJI"
D1 : Yesterday’s price action triggered a “Doji” pattern (undecision and uncertainty) with a closing level still inside the clouds.
In addition, BTC failed to breakout the Mid Bollinger Band resistance level, currently @ 56’691 which by the way, the same level than the top clouds resistance level.
RSI is below 50 @ 47,18 !
Today’s ongoing price action is currently roughly in the middle level of the clouds area which
Should be seen as a NEUTRAL zone
Indeed, in the D1 time frame, only a EXIT of the clouds area would confirm a new trading range with the following implications :
Bullish :
A breakout and sustainable move above 56’700 would give the following targets :
R1 : 58’060
R2 : 60’000 / 61’066
Bearish :
A breakout and sustainable move below 52’400 would give the following targets :
S1 : 51750
S2 : 50631
CONCLUSION :
A sideways price action (56’500-52’400) will be seen as long as we stay inside the clouds !
Supports within this range are :
S1a) 54’250
S2b) 52’870
S3C) 52’400
Ironman8848
In addition, BTC failed to breakout the Mid Bollinger Band resistance level, currently @ 56’691 which by the way, the same level than the top clouds resistance level.
RSI is below 50 @ 47,18 !
Today’s ongoing price action is currently roughly in the middle level of the clouds area which
Should be seen as a NEUTRAL zone
Indeed, in the D1 time frame, only a EXIT of the clouds area would confirm a new trading range with the following implications :
Bullish :
A breakout and sustainable move above 56’700 would give the following targets :
R1 : 58’060
R2 : 60’000 / 61’066
Bearish :
A breakout and sustainable move below 52’400 would give the following targets :
S1 : 51750
S2 : 50631
CONCLUSION :
A sideways price action (56’500-52’400) will be seen as long as we stay inside the clouds !
Supports within this range are :
S1a) 54’250
S2b) 52’870
S3C) 52’400
Ironman8848
