H4 time frame is showing an ongoing bearish price action, putting now the Mid Bollinger Band, currently @ 43'238 under attack.
Therefore, MBB, should now be seen as the LEADING INDICATOR for the upcoming hours. Indeed, a failure to hold and stay sustainably
above this important support level, would open the door for further downside, having in mind the next significant support and key pivot level
@ 41'327.
In addition, the bearish mood has been confirmed by a RSI bearish divergence on D1 !
Watch carefully at shorter time frames and especially at the clouds support zone, around 42'300/42'400 as a short term intraday indicator as a breakout
of that support area would directly put the focus on KS @ 41'327
In order to neutralise the ongoing downside risk, the BTC should quickly recover and hold above TS or conversion line, currently @ 44'083.
Have a nice day.
All the best and take care.
If you like my analysis, please do not hesitate to show it and if you do not follow me yet please do it as well.
Ironman8848
Therefore, MBB, should now be seen as the LEADING INDICATOR for the upcoming hours. Indeed, a failure to hold and stay sustainably
above this important support level, would open the door for further downside, having in mind the next significant support and key pivot level
@ 41'327.
In addition, the bearish mood has been confirmed by a RSI bearish divergence on D1 !
Watch carefully at shorter time frames and especially at the clouds support zone, around 42'300/42'400 as a short term intraday indicator as a breakout
of that support area would directly put the focus on KS @ 41'327
In order to neutralise the ongoing downside risk, the BTC should quickly recover and hold above TS or conversion line, currently @ 44'083.
Have a nice day.
All the best and take care.
If you like my analysis, please do not hesitate to show it and if you do not follow me yet please do it as well.
Ironman8848
