H4 : As expected and mentioned in my previous analysis,(see related ideas the corrective recovery move went up so far towards a high of 49'762, nearly filling the 50% Fibonacci retracement (49'882) of the last downside move from 57673 towards 42'074. In addition as already said the psychological level of 50'000 has not been broken either and recent and current...
Good morning to all of you. I hope you are well today ? My double top technical target, already mentioned a couple days ago, with a technical target @ 46'000 has easily been filled with an intraday low reached early this morning @ 42'074. So what next ? This sharp downside move has, and it is obvious, triggered a TACTICAL REVERSAL ONLY !!! Indeed, no...
DAILY : Currently in a broad bear trend channel, roughly in the middle of the clouds and trying to hold above on a daily basis above the Tenkan-Sen or Conversion line @ 56'463. BTCUSD remains under selling pressure and for the time being we saw, over the last couple of sessions, successive failures to recover, firstly above the Mid Bollinger Band, which, as...
DAILY : The BTCUSD is not out of the woods yet; indeed, recent and current price action is still in the clouds currently traded around the important pivot level of 57'500 (double top trigger level !) Despite a recovery attempt seen yesterday which trigger an upside move towards an intraday high of 59'476 (rejected by the top clouds resistance...once again...
Double top in progress on 30 minutes chart. Trigger level @ 57'000, if broken target @ 55'500 Watch closely ongoing price action in the next hour (s) Ironman8848
DAILY PICTURE : 57'500 which is the double top trigger level should still be seen as a KEY PIVOT LEVE L for further development. In addition, slightly below this level we can see the Tenkan-Sen or Conversion line, currently 57'368. As already mentioned, a daily closing below both levels mentioned would add further selling pressure and put the focus to...
As expected, yesterday's small recovery has been short lived !!! Indeed, RSI bearish divergence on H1, triggered a corrective move only, pushing up the BTCUSD towards an intraday high of 57'882, missing to breakout the clouds resistance area on this time frame... (magical clouds :-)...) In addition, recent price action triggered an other bearish signal : the...
Last daily closing level @ 56'353 which means below the double top trigger level @ 57'500; this should be seen as the first warning validation signal of this double top formation, calling for a technical target @ 46'000. Once again the clouds worked perfectly well as you can see on this daily chart in rejecting, yesterday, an upside breakout attempt @ 59'580...
DAILY : DOUBLE TOP IN PROGRESS STILL ALIVE As mentioned in my previous analysis (see related ideas below), the recovery which took place recently was only a corrective move in a broad new bear trend which started @ ATH 69'000. Indeed, the ongoing double top formation is still intact and a daily closing below its trigger level (@ 57'500) would be the first...
Following my previous analysis, just published a couple minutes ago, I will go more in depth on shorter time frame and I am going to explain the price action expected in this 1 hour time frame. As you can see on the RSI indicator, a bullish divergence took place and it has been done on the long candle (hammer) and also around the TS; such kind of price action...
As expected the ongoing downside selling pressure, firstly broke the double top trigger level (@ 57'500) and more important close below it. This breakout triggered an acceleration which pushed the BTCUSD sharply down towards an intraday low so far of 53'760, close to the bottom of the clouds support which once again worked perfectly well as an important level to...
DAILY : The Daily picture is clearly showing a double top formation in progress, its trigger level being @ 57'500; a breakout confirmed of this point would activate this bearish formation in opening the door for a technical target @ 46'000. Global picture is not very encouraging at all; indeed, the BTCUSD, is currently in an ongoing downtrend; meaning in a...
As expected and mentioned in my previous analysis the failure to hold above the psychological support level of 60'000, triggered a downside acceleration which pushed the BTCUSD towards a low so far of 58'573; my first technical target of 57'765 has not been reached yet... So what next ? Well, it is likely to see further downside in the cards ! Indeed, looking...
Despite an intraday high reached yesterday @ 66'340, the BTCUSD failed to close above the top range of the "RED ZONE" @ 65'500 mentioned in my previous analysis !!! . Such kind of price action triggered, as expected, further downside selling pressure which pushed the BTCUSD towards a low so far of 60'406, very close to the psychological support level of...
Triangle progress on the daily chart. BREAKOUT LEVELS : (Daily closing !) 4'732 4'600 IMPLICATIONS : ( + / - 400 POINTS) UPSIDE : TARGET 5'132 DOWNSIDE : TARGET 4'200 Watch intraday to get intermediate clues and signal (s) confirmation of ongoing price action. H4, currently in the clouds ! Ironman8848
DAILY PICTURE : Yesterday's closing below the Tenkan-Sen,(currently @ 64'560) and which should be seen as the first important level to look at very carefully. Indeed, a failure, to close, later on today above this point would put the focus on the next significant support level, @ 62'700, already mentioned in my previous analysis (see related idea below) and...
A lot of my followers asked me recently... why I was so bearish ? I will try to "justify" my bearish view in looking today, at the daily and at the 4 hours time frames, which, for me, both of them are quite representative of the recent and current price action which is likely to trigger further downside move towards the 60'000 at least if some important support...
THE 61.8% Fibonacci retracement @ 0.727790 has been filled overnight; currently in recovery progress, daily clouds support zone has also be tested. Looks like a good buying opportunity (around 0.7290-0.7305) calling for a recovery towards the cluster of TS, KS ahead of MBB (0.7403 -0.7443) Watch ongoing support trend line (in red) and put a stop loss below in case...