M1 : Still above the long term support trend line (to be confirmed at month end closing !) W1 : Within an ongoing downtrend channel, in a downtrend (red line) and below the clouds. Still below all important indicators such as Mid Bollinger Band, Tenkan-Sen and Kijun-Sen. Nevertheless, this week price action is showing, for the fist time since several weeks, first...
H1 : Low so far @ 48338, near the H4 triangle target @ 48232. After this sharp decline it is obvious to see some recovery attempt that we are seing now. Nevertheless, for the time being such kind of rebound should still be seen as a corrective move only with a relatively limited upside potential. Indeed, in order to confirm a sustainable "recovery", BTC should...
D1 : Nice recovery price action seen over the last couple of days with, for the time being, still a failure to breakout on the upside the psychological resistance level of 60'000 (high so far being 59'816 !). D1 is showing a potential Head and Shoulder formation in progress. In addition, coupled with this potential reversal pattern there is also a double top...
D1 : Recent recovery seen over the last couple of days is triggering a potential double top formation in progress. (trigger level to confirm this pattern @ 1.3860 and target 1.1890 which is also currently the level of the trend support line which started in August 2020 and also to some extend the clouds support area. RSI is also showing a...
H1 : The expected Head and Shoulders formation mentioned in my yesterday's analysis failed !! As mentioned in my previous D1/H4 analysis, it it likely to see some correction after the rally seen recently. The ongoing expected move is under way calling for a move towards the former high @ 52652 which was the former resistance and...
H4 : Recent recovery from the bottom of the clouds which worked perfectly well as a support area, we can see now a breakout attempt of the top of the H4 clouds in progress ! Important to note that, not only the top of the clouds are under attack but also the Kijun-Sen (Base line). Therefore, closing level of the ongoing H4 price action will...
D1 : Still in a broad bearish channel and below the Mid Bollinger Band. Yesterday's price action triggered a doji ("hanging man" or "dragonfly", confirmation will be given on D1 closing) ! Globally, as long as BTC does not breakout the downdrend channel first and does not move and hold above MBB and Kijun-Sen (Base line), price action...
D1 : Mid Bollinger Band remains "THE" leading indicator. Indeed, after having closed, before yesterday above MBB, the failure, yesterday to confirm it, triggered a new selling pressure and as a result, the previous bullish candle has been neutralized by a bearish engulfing pattern yesterday which close below MBB; Today's ongoing candle is...
H1 : Breakout of the clouds support zone triggered another wave of selling pressure which pushed down the BTC towards a low so far of 47520. Indicators are not showing bullish divergence yet on this time frame. M15 : Picture slightly different where a potential bullish divergence might be seen !!! Therefore, watch carefully price action over...
D1 : Strong upside move towards an intraday high of 52652 seen yesterday with a closing level slightly above MBB. Today's price action is currently below the psychological level of 50000. Once again, today's closing will be important for the coming session (s) H4 : Failure to hold above the clouds resistance, triggered a new selling...
H1 : 61.8% Fibonacci retracement filled @ 49201 (intraday low so far @ 49000) Last candle (bullish engulfing) might trigger a recovery In order to invalidate the ongoing bearish price action, BTC needs to recover above MBB currently @ 50784 and also above the downtrend line resistance. On the downside, clouds zone should be watch as the...
H1: A bearish divergence took place on the top of the recovery, confirmed by a bearish engulfing pattern ! Ongoing reversal nearly already reached the 38.2% Fib ret of the last rally (47069-52652) Looks like further downside is on the cards M15 : Recent price action broke TS, MBB and KS. Watch 50500-50000 as next support area. ...
D1 : Cluster remains around the psychological level of 50000. Indeed, this level coincides with both, the current level of the downtrend line resistance and with the Mid Bollinger Band.(49925) Therefore, a move and a D1 closing level above 50000 could change the current bearish mode to a bullish one. Wait today's closing for...
H1 : The expected Head and Shoulder formation failed ! Indeed the yesterday's intraday low @ 47069, triggered a bullish divergence on RSI, confirmed, later by other indicators which triggered a short term reversal in building an uptrend channel. On its way up, BTC recovered above KS, TS and MBB which now should be seen as the ...
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 : 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 on 45000-43000. A pullback attempt...
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...
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...