DAILY (D1) Yesterday's price action triggered a long black candle ( BEARISH ENGULFING ) with, and IT IS VERY IMPORTANT, ITS DAILY CLOSING LEVEL (@ 42'290) , for the first time, since a while, BELOW THE KIJUN-SEN !!! This move must not be underestimated and must be taken very seriously. Indeed, the KIJUN-SEN was the last significant support to look at ...
WEEKLY (W1) Ongoing price action is showing the BITCOIN , roughly in the middle of the clouds support area (48'517 - 38'152); as long as the BTC is not able to recover and hold on a weekly basis closing above the top of the clouds area, the downside risk is still alive. DAILY (D1) After having reached, yesterday an intraday low of 42'741, the BTC managed,...
DAILY (D1) As expected, the failure to stay and hold above both MID BOLLINGER BAND and the top of the TRIANGLE PATTERN, triggered a downside acceleration towards the next support (42'900) mentioned in my yesterday's analysis in making an intraday low early in the morning @ 42'741. The 50% Fibonacci retracement @ 42'900 of the 37'567-48'234 rally has been...
DAILY (D1) Under heavy selling pressure very close to the MID BOLLINGER BAND SUPORT LEVEL @ 14'415 !!! [ A daily closing below this level would open the door for lower levels towards the next very important support @ 14'105 which is the KIJUN-SEN. RSI below 49.24 LAGGING LINE moved sharply down after the failure to cross over the daily clouds.. but still...
DAILY (D1) The yesterday's failure to hold above both ongoing uptrend support line and the TENKAN-SEN triggered a downside move which pushed the BTC towards a low so far @ 44'419, having tested during the night both the MID BOLLINGER BAND support and the former downtrend line (top of the triangle pattern !) Ongoing today's price action will be important and...
DAILY (D1) Both TENKAN-SEN and ongoing uptrend line support rejected, yesterday, the downside breakout attempt; indeed, despite a intraday breakout of those two important supports, the BITCOIN managed to recover and close @ 46'598 which trigger a DOJI pattern and which still can be seen as a persisting indecision and uncertainty about further...
WEEKLY (W1) Last week price action did not managed to breakout the clouds on a weekly closing basis for the second time in a row and as a result a DOJI pattern took place which is confirming the indecision and uncertainty I mentioned in my previous analysis published yesterday (see related idea below). The 38.2% Fibonacci retracement @ 46'721 (69'000. -...
WEEKLY (W1) The weekly picture is showing a BREAKOUT ATTEMPT to cross over the top of the WEEKLY CLOUDS resistance area @ 47'407- Wait for either VALIDATION or I NVALIDATION by the ongoing weekly closing level. DAILY (D1) Sideways price action caught in a relatively narrow trading range which is showing some uncertainty and indecision about further...
WEEKLY (W1) Upcoming weekly closing level would be very important to look at, as it will either VALIDATE or INVALIDATE the upside BREAKOUT OF THE TOP OF THE WEEKLY CLOUDS RESISTANCE AREA @ 47'407 !!! The Mid Bollinger Band (MBB) @ 44'555, briefly broken yesterday, worked perfectly well as the support level in this weekly time frame DAILY (D1) Nice...
As expected and mentioned in previous analysis (see related ideas below), after having briefly broken the 48'000 area (intraday high @ 48'234) a correction took place over the last couple of days and went down towards a V ERY IMPORTANT SUPPORT LEVEL (cluster of of the 2 trend lines on both sides around the 44'700 in reaching an intraday low, so far @ 44'244,...
4 HOURS (H4) The expected consolidation is in progress with a potential short term double top pattern in progress too. Indeed, the trigger level of this potential formation is @ 46'897 and a failure to hold on H4 closing basis above that level would open the door for 45'560 which would be in line which what I mentioned in my previous analysis published...
DAILY (D1) Price action seen over the last couple of days should be seen as constructive for further upside. Indeed, 1) the breakout of the TRIANGLE PATTERN by a long white bullish candle 2) Next candle closing above the previous closing So after, having reached an intraday high above 48'000 yesterday, @ 48234, we may see some correction, like a pullback...
WEEKLY (W1) Last week price action triggered a LONG WHITE BULLISH CANDLE which broke up and close @ 2.5890 on a weekly basis above the former high @ 2.5160 reached a year ago in March 2021. RSI @ 70.85 is not converging therefore there is a potential BEARISH DIVERGENCE IN PROGRESS ! On the other hand, the LAGGING LINE is far away above the TS, KS and the...
WEEKLY (W1) Last week price action triggered a LONG WHITE CANDLE , usually a BULLISH SIGNAL with its weekly closing level (@ 46'864) for the first time, since the beginning of 2022, above the WEEKLY CLOUDS TOP ZONE (@ 45'937) and also the MID BOLLINGER BAND (45'505). RSI above 50 @ 53.21 and the LAGGING LINE above the weekly clouds with still the...
Today, we are going to look at the hourly time frame which is showing a sideways price action between the former high @ 45'<37 and the bottom of the hourly clouds support zone, currently @ 43'900. RSi above 50, @ 54.58. LAGGING LINE is looking tired, also moving in a sideways mode. Currently below the Tenkan-Sen (44'765) and still slightly above both...
On the 4 hours chart, there are 2 levels to watch at carefully which are the following : UPSIDE. : 45'200 DOWNSIDE : 43'000 Indeed, a sustainable breakout of one of those 2 levels, would : 1) either confirm further upside (in breaking the former high @ 45'137 which would open the door for higher levels towards the top of the weekly clouds area,...
As mentioned in my yesterday's analysis,(RSI bearish divergence), the successful breakout of the former high @ 43'492 triggered further upside move towards, as expected, a high so far above the 45'000 area, with an intraday high so far 45'137. We can see on this DAILY chart to different patterns : 1) A BROAD TRIANGLE PATTERN (currently attempting to...
Today, we are going to look at the 240 minutes chart where a RSI BEARISH DIVERGENCE has been identified. In addition to this signal, a potential double top formation is also in progress with its trigger level @ 41'779, just above the level of 41'705 I mentioned to watch yesterday on my DAILY ANALYSIS. So watch now carefully ongoing price action in shorter time...