D1 : Following the Doji pattern of before yesterday, the yesterday's price action triggered a bearish candle (black)
which reached an intraday low of 52379 which was roughly the bottom of the clouds (52401).
Once again the clouds, for the time being, hold well, in rejecting the downside breakout attempt.
BTC is, now, moving on a sideways mode, inside the cloud and only a breakout of the clouds one way or the other,
will switch, respectively to Bullish or Bearish mode, in this D1 time frame.
BREAKOUT IMPLICATIONS :
Bullish : A sustainable upside breakout of the clouds (56'730), Mid Bollinger Band @ 56363), which has, as already mentioned
many times, worked perfectly well, as one of the most relevant leading indicator !
Above focus would be on the 58'000 area
Bearish : A failure to stay and hold inside of the clouds would directly put the focus on the Tenkan-Sen (conversion line) @ 51750,(also the 50% Fib ret of the 47004-56500 rally), ahead of the psychological
support level of 50'000
Watch intraday time frames to get clues :-)
Have a nice trading day and all the best
Ironman8848
which reached an intraday low of 52379 which was roughly the bottom of the clouds (52401).
Once again the clouds, for the time being, hold well, in rejecting the downside breakout attempt.
BTC is, now, moving on a sideways mode, inside the cloud and only a breakout of the clouds one way or the other,
will switch, respectively to Bullish or Bearish mode, in this D1 time frame.
BREAKOUT IMPLICATIONS :
Bullish : A sustainable upside breakout of the clouds (56'730), Mid Bollinger Band @ 56363), which has, as already mentioned
many times, worked perfectly well, as one of the most relevant leading indicator !
Above focus would be on the 58'000 area
Bearish : A failure to stay and hold inside of the clouds would directly put the focus on the Tenkan-Sen (conversion line) @ 51750,(also the 50% Fib ret of the 47004-56500 rally), ahead of the psychological
support level of 50'000
Watch intraday time frames to get clues :-)
Have a nice trading day and all the best
Ironman8848
