BTCUSD - D1H4 - CLUSTER 49900-50300 D1 & CLOUDS H4

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
D1 : Very strong price action occurred yesterday by one of the longest white candle ( BULLISH ENGULFING ) seen so far (Opening 45262 / Closing 49629 + 4367 / + 9.64 %), similar
to the one seen on Feb 19th (Opening 51560 / Closing 55989 + 4429 / + 8.59 %).
Today's price action triggered an intraday high so far @ 50250 which is roughly the level of Tenkan-Sen (conversion line) and which should also, as Mid Bollinger
Band, be seen as very important level to break.
Therefore this "cluster" (49900-50300) should be watch carefully on D1 basis for ongoing structural development.
The key pivot level remains 51530 and a clear breakout of that level would clearly open the door for a retest of the highs above 58000.
On the downside a failure to hold above Kijun-Sen @ 47486 would put the focus again on 45000-43000

H4 : After having broken respectively, Tenkan-Sen, Mid Bollinger Band and Kijun-Sen, BTC is now facing a new obstacle to breakout which is : THE CLOUDS !
Indeed, as mentioned yesterday in this dynamic recovery it reached first the 38.2% Fib ret @ 48878 and then nearly filled in the 50 % Fib ret @ 50687 with an
intraday high, so far @ 50250.
UPSIDE, the clouds are clearly the zone to break and which is the case would put the focus on the D1 key pivot level @ 51530 ahead of the 61.8%
Fib ret @ 52496
DOWNSIDE, the "cluster" ( TS , MBB , KS ) respectively @ 47213, 46777 and 46635 should be seen as the first significant area.

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Comment: Failure, over the last couple of hours, to upside breakout the clouds, triggered selling pressure which pushed down the BTC towards a low so far of 47150, breaking down KS on its way. Picture is still looking "heavy" and it is expected to see further downside over the coming hours towards MBB (46817) and K (46635) ahead of the 45000-43000 former support zone
Watch carefully H1
Technical analyst Expert since 1991. Member of the Swiss Association of Market Technicians (SAMT).