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 !
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Target reached on H1 @ 53067 (low 52603) New analysis will follow soon
@jafarmk, trigger is @ 54694 ! This level should be clearly broken to validate the double top !
Very often, a first breakout occured which is followed by a pullback which is happening now.
Watch carefully price action over the upcoming periods !
jafarmk
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@Ironman_8848, thanks.
One thing can you please suggest me, what to do with alts ?