H1 : Failure to hold above the neckline of the H & S triggered its breakout which confirm
this reversal pattern, calling for a target of roughly 46265 which is also the bottom zone
of the H1 clouds support.
Breakout of the clouds would, as mentioned in my previous D1/H4 analysis, put the focus
A pullback attempt...
D1 : Very strong price action occurred yesterday by one of the longest white candle (BULLISH ENGULFING) seen so far (Opening 45262 / Closing 49629 + 4367 / + 9.64 %), similar
to the one seen on Feb 19th (Opening 51560 / Closing 55989 + 4429 / + 8.59 %).
Today's price action triggered an intraday high so far @ 50250 which is roughly the level of...
H1 : Currently trying to breakout :
1) Clouds resistance
2) Downtrend channel top resistance line
3) 23.6% Fibonacci retracement @ 46639
Indicators are showing some lack of momentum
Successive "little" candles are also showing somme uncertainty which may add somme renewing
selling pressure on the upcoming hours without a...
H4 : Last candle closed slightly up, above the top of the downtrend channel line and also
above Mid Bollinger Band (46091).
Nevertheless, this breakout, for the time being looks very fragile and we need to wait
the next H4 closing for confirmation.
Indeed, an upside breakout confirmation would then open the door for 47550 which is the...
D1 : Global picture is showing a downtrend channel still in place.
In addition, for the time being, the ongoing recovery attempt price action
failed, so far, to recover above Kijun-Sen (47275) which is the first level to break
in order to neutralise the remaining bearish price action.
A move above Kijun-Sen would be the first step to...
W1 : Global picture is showing a "mirror effect" in progress.
Last week price action triggered a long black candle (bearish engulfing pattern) which
filled the 23.6 % Fibonacci retracement @ 45491 (3850-58354) and reached an intra-week
low of 43021 !
After this sharp downside, it was more than likely to see some recovery which took...
H4 : Last candle triggered also a Doji pattern which is showing somme uncertainty and indecision in making a pause
in this ongoing bearish price action.
As a result, we can see now a new recovery attempt which will face a first resistance -@ 46074 (TS) ahead of
MBB (47213) which is also currently the top of the downtrend channel.
D1 : In a broad bear trend downtrend channel, yesterday's price action triggered a "doji", which close
just above the important support level of Kijun-Sen.
Today's ongoing price action, broke KS and former low of 44151 in reaching a new intraday low @ 43782 !
Indicators are still pointing to the South.
In addition, current price action is...
H4 : Recent price action triggered a doji pattern (indecision and uncertainty), with its intra H4 low testing Tenkan-Sen.
It is currently traded below the middle of the short term uptrend channel.
Continue to watch Tenkan-Sen as a first support and then bottom of the channel; lower focus
will be on former low @ 44151 ahead of 43577 (50% Fib...
H1 : Current price action is showing a sideways-slightly up channel within
a broad bear trend in H4 and D1.
Kijun-Sen rejected a breakout attempt and is likely to trigger some rebound again.
No change in my view, watch the clouds and the Fibonacci retracement, respectively
the 50% @ 48115 (also the top of the clouds !) and the 61.8% @...
H4 : Currently in a sideways-slightly up trading channel.. but still below both KS and MBB !
As mentioned in my previous analysis (see D1), recent and current price action should
still be seen as CORRECTIVE MOVE ONLY and not as a trend reversal yet !
First significant support remains Tenkan-Sen ahead of the bottom line of the channel.
D1 : After having broke in an intraday basis the Kijun-Sen and reached a low of 44151, BTC recovered nicely, to close @ 46315, above KS.
Global picture remains heavy.
Indeed, despite the rebound seen recently, BTC is still below Mid Bollinger Band which remains a very good "barometer" indicator as you
can see in the past.
M15 : Following the expected ongoing downside move towards a low of 44151, BTC is trying to recover.
Be very cautious as for the time being, recent price action seen from the low is a corrective move only
in a broad bear trend and should not be seen as a trend reversal yet.
Indeed, in order to neutralise the ongoing selling pressure, BTC...
D1 : Yesterday's price action triggered a Bearish Engulfing pattern with the first time
a closing level below both Mid Bollinger Band and strategic uptrend support line !
Levels to watch now are the following :
R1 : 49260 (MBB)
R2 : 50000 (former strategic uptrend & psychological level)
R3 : 51530 % 51600 (Pivot...
H4 : Following the failure to breakout former highs, the last candle triggered
a Bearish Engulfing Pattern !
In addition the closing level was below the Mid Bollinger Band which is bearish.
Indicators turned down.
Little support now with the uptrend line which looks very fragile.
Likely to see at least a retest of the 48000 area...
H4 : After three successive failures to breakout the Mid Bollinger Band, current ongoing candle
is trying again to upside breakout MBB.
Important to note that MBB coincides also roughly with the secondary downtrend line resistance.
Therefore, a breakout of that area, on a closing period basis, would be the first positive signal for
H1 : In a sideways, slightly downside price action.
Clouds are acting as a resistance zone to break.
2 upside breakout failures so far.
On the downside, a clouds support breakout would
directly put the focus on the 47000 area (yesterday's former intraday low !),
ahead of the double bottom area around 45000.
M15 : Sideways price...