W1 : Same than , as long as BTC remains below KS
D1 : Triangle breakout in progress, first confirmation would
be given by a closing level, on a daily basis below the base of the triangle !
Watch closely today's price action
H4 : Last couple of candles are showing successive black candles pattern with
a low so far @ 32'418 as expected (see related idea below )
H1 : Below the clouds and below the cluster too
M30 : Same than M30
M15 : Same than M15; triggered a recovery attempt which, for the
time being has not been very successfull as selling pressure remains
M5 : Below the clouds. Watch former congestion bottom @ 33320 as first very short term resistance
area which also coïncides with clouds .
REMAINS THE SAME ! RECENT AND CURRENT PRICE ACTION SHOULD STILL BE SEEN AS A CORRECTIVE TACTICAL MOVE ONLY IN A BROAD STRATEGIC BEAR TREND.
AS ALREADY MENTIONED SEVERAL TIMES, ONLY A SUSTAINABLE MOVE ABOVE THE 40'000 AREA AHEAD OF 41'230 WEEKLY LEVEL WOULD FORCE
TO A VIEW REASSESSMENT OF THE EXPECTED SCENARIO CALLING FOR A RETEST OF THE FORMER LOWS @ 32'418 , 31'100 AHEAD OF
THE PSYCHOLOGICAL LEVEL OF 30'000 AND POTENTIALLY LOWER TOWARDS 27'169 (61.8 % of the 3'850-64'895 rally !) AND TOWARDS
THE TECHNICAL TRIANGLE TARGET (IF CONFIRMED) @ 21'270
Have a nice day, have fun and take care.
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34'092 (important !)
Watch carefully price action on M5, M15, M30 and H1 to validate or invalidate this potential recovery which once again should only be seen as a CORRECTIVE TACTICAL MOVE ONLY IN A BROAD BEAR TREND !!!
Any long exposure should be protected by a tight trailing stop loss.
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