Ironman_8848

BTC - DOUBLE TOP TARGET @ 53'128... RECOVERY ATTEMPT !

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
H4 : Double top formation in progress with a first
breakout of the trigger level @ 56'064.
Following this breakout, a downside acceleration took place
which triggered a move towards an intraday low so far @ 54'653.
Then, an usual and natural pullback attempt took place towards the DT trigger level
Current H4 closing level will give clues for the upcoming trading hours.
A failure to recover and hold sustainably above 56'064 would add further selling pressure
calling for a retest of former low ahead of the DT target.
A successful sustainable recovery above 56'064 would put the focus on 56'500 (former congestion
support zone ) ahead of 56'825.
MID BOLLINGER BAND @ 57'350 BEING THE KEY PIVOT LEVEL TO WATCH ON THIS TIME FRAME !
Watch H1 and M15 to get intermediate clues.
Ironman8848
Trade closed: target reached: DOUBLE TOP TARGET @ 53128 REACHED LOW BEING 52'925
New analysis will follow

Comments

looks like will close in 55K as the new accumulation
Reply
nice bounce frm demand
Reply
Corrective wave C.

Valid until BTC climbs above 60k.

Entry points at:

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