H1 : Support trend line @ 54340 has been tested once !
Curently below the Mid Bollinger Band, Kijun-Sen, the clouds and Tenkan-Sen.
Global picture remains negative and the rising wedge target of 53067 still valid.
M15 : Double top trigger level has been tested with so far one closing below it
a second one would confirm the breakout opening the door for the target of 52272.
In order to neutralise the ongoing bearish pressure, BTC needs to recover above the ongoing
downtrend line resistance and again above the clouds. As long as we are below it any recovery
should be seen as a corrective move only in a broad bear trend which already took place on longer
time frames such as W1, D1 and H4 !
Curently below the Mid Bollinger Band, Kijun-Sen, the clouds and Tenkan-Sen.
Global picture remains negative and the rising wedge target of 53067 still valid.
M15 : Double top trigger level has been tested with so far one closing below it
a second one would confirm the breakout opening the door for the target of 52272.
In order to neutralise the ongoing bearish pressure, BTC needs to recover above the ongoing
downtrend line resistance and again above the clouds. As long as we are below it any recovery
should be seen as a corrective move only in a broad bear trend which already took place on longer
time frames such as W1, D1 and H4 !
New analysis will follow soon