On the DAILY TIME FRAME , the 2 levels to watch at and monitor carefully still the same than yesterday :
1) ON THE DOWNSIDE : 38’244 (Former recent intraday low)
2) ON THE UPSIDE : 39’700 – 39’900 ( KS and TS Cluster)
A breakout, on a DAILY CLOSING BASIS , of one of those levels, would have the following implications :
DOWNSIDE : Focus will shift...
Looking briefly at the ongoing weekly time frame picture we can see a TRIANGLE PATTERN IN PROGRESS and a recent price action attempting to downside breakout the WEEKLY CLOUDS SUPPORT LEVEL (37'516) intraweek low being @ 37'169.
RSI is below 50,@ 41.76
LAGGING LINE is roughly in the middle of the CLOUDS
UPCOMING WEEKLY CLOSING LEVEL WILL BE VERY...
WEEKLY (W1)
Ongoing downside price action, close to the former low of 13'706 reached in January ahead of the first technical target I am still calling for @ 12'894 (see my previous analysis), which is the 38.2% Fibonacci retracement of the big rally (6'628.75 - 16'767.50)
A move towards this level would confirm a downside breakout of the clouds bottom...
4 HOURS (H4)
The double top target @ 39'552 has been filled with an intraday low @ 39'450, roughy also filled the 50% Fibonacci retracement @ 39'400 mentioned
in my previous analysis.
No bullish divergences detected so far !
Lagging line below the clouds too.
RSI below 50, @ 34.09
Nevertheless, after this nice decline, it is likely, on short term to...
Broad picture continue to be negative !!!
WEEKLY (W1)
Last week price action triggered a long black candle (very bearish, almost a "MARUBOZU") which roughly closed at its lowest level of the week !
Therefore, it is very important to look very carefully at the price action which took place prior to this long black candle.
The week before, a perfect *DOJI"...
Looking at the daily picture, after having broke down the clouds, the Nasdaq 100 fut is triggering, a triangle formation in progress in a new broad bear trend !
Indeed, recent and current price action should be seen as a natural pullback towards the former support area which became now the new resistance to break
in order to neutralise, temporary, the ongoing...
Good morning, today, we are going to look at the daily picture.
Indeed, as already mentioned in my previous analysis, we can see a triangle pattern in progress
with breakout levels, respectively at, currently :
On the upside : 43'835 (intraday high)
On the downside : 40'931
IMPLICATIONS :
A clear breakout, on a daily closing of one of those levels would trigger a...
Good morning, I hope you are all well :-)
Today we are going to look especially at the daily picture which is showing a crucial and critical support level around the 40'000 area !!!
Why ?
The reason is very simple : "WATCH THE CLOUDS !"
Indeed, as you can see on this chart, the first downside breakout has been rejected by what ?
By the clouds !
This rejection...
Today we are going to look at three time frames :
Firstly the 4 hours where the base of the triangle is currently under attack with an ongoing pullback attempt
Secondly, the hourly to see if there is & are potential reversal signal (s)
Thirdly, the daily picture to have a global overview of what is going on
Let's go to the 4 HOURS CHART :
Currently, after...
M1: Strategic target unchanged @ 27'169
W1 : The last 2 weeks price action is encouraging; indeed, the bullish engulfing pattern
identified 1 week ago has been confirmed by a long white bullish candle. Nevertheless, on one hand, the BTC
remains under the weekly downtrend resistance line (currently @ 43645) and on the other hand also below KS (@46'747)
and only a...
