Sharp recovery seen yesterday-long white candle, (intraday high @ 43'337) with a daily closing @ 42'393. So what next ? Watch and monitor carefully ongoing price action and especially today's closing level ! Indeed, a failure to close above 41'705 (middle level of yesterday's long white bullish candle) would trigger a DARK CLOUD COVER (potential reversal...
WEEKLY (W1) Last week price action, long white candle, could be seen, as first glance as a positive signal, in this time frame. The only negative point is that the BTC did not manage to recover above the high of the previous week (42'592) !. indeed the high seen was slightly lower @ 42'405 Therefore, this failure is still confirming the STRATEGIC BEARISH...
Today we are going to look carefully at the price action on the 4 hours chart which can validate or invalidate further upside as the BTC is facing an important resistance area to break on a DAILY BASIS (42'500),last closing being just below this level @ 42'235. So, this 4 hours time frame is showing 2 important things : 1) a double top in progress with its...
WEEKLY (W1) The high of previous week @ 42'592 has nearly been retested again with a high reached yesterday @ 42'362 A weekly closing level above 42'592 would neutralise the downside risk in that time frame and increase the chance for a STRATEGIC TREND REVERSAL ! DAILY (D1) Yesterday's price action between the cluster support(40'200-39'800) with a...
WEEKLY (W1) Still in the weekly clouds roughly in the middle of it and still above the TENKAN-SEN (@ 39'400) which should be watch carefully on the next weekly closing level. Indeed, a failure to close above it would put the focus again to the bottom of the clouds around 37'600 (former congestion support on daily chart) DAILY (D1) Daily clouds still in...
WEEKLY (W1) Ongoing recovery attempt, currently roughly in the middle of the weekly clouds and above the Tenkan-Sen @ 39'400 A next weekly closing above 39'40O should be seen as a positive signal in this weekly time frame. DAILY (D1) Yesterday's price action triggered a long white candle which reached an intraday high @ 41'694 BUT CLOSED BELOW THE TOP...
DAILY (D1) Yesterday's price action, triggered a long white candle, which, usually is a BULLISH signal... but the failure to cross over and close above the CLUSTER (39'700-39'900 area) triggered new selling pressure which once again cross underthe ongoing daily support trend line, currently around 39'300 ! Interesting to note that the CLUSTER , also coincides...
WEEKLY (W1) Weekly closing @ 37'790 just slightly above the weekly clouds support level @ 37'516. We, very often, hear "jamais 2 sans 3" and we saw the third weekly candle closing, in a row, above the bottom of the weekly clouds support area... Ongoing price action is showing a recovery attempt within the clouds and in this weekly time frame, we have to...
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...
DAILY (D1) After having, yesterday reached an intraday low @ 38'244 in testing the ongoing support trend line, the BTC closed @ 38'780 , below the clouds and the cluster of Tenkan-Sen and Kijun-Sen and last but not least, below the MID BOLLINGER BAND too ! Therefore, on the DAILY TIME FRAME, there are 2 levels to watch at and monitor carefully, and this...
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...
DAILY (D1 ) Yesterday's price action triggered a LONG WHITE CANDLE which intraday broke briefly the top of the DAILY CLOUDS RESISTANCE AREA (@ 42'524) but failed to hold and more important to close above it ! Today's ongoing price action is, currently showing the level of the BITCOIN, below the bottom of the daily clouds and below the TENKAN-SEN (41'250) too,...
Indeed, a strong recovery took place early in the morning following "a NEWS" and this could be interpreted as a "BUY the news and SELL THE FACT" ! The Bitcoin recovered in short period of time (less than 2 hours !) from 39'400 towards an intraday high so far of 41'896.37, in filling on its way up the 38.2% and the 50 % Fibonacci retracement, respectively @...
WEEKLY (W1) $ Last week price action triggered an INVERTED HAMMER PATTERN, which usually should be seen as a bullish warning signal; nevertheless, in this case, I would remain very cautious before to conclure that the downside pressure is over and we can see a STRATEGIC TREND REVERSAL ; the weekly closing level @ 38'438 was below the TENKAN-SEN ! Indeed, the...
FIRST BREAKOUT ON A WEEKLY CLOSING BASIS OF THE DOUBLE BOTTOM TRIGGER LEVEL @ 1'919 (WEEKLY CLOSING WAS 1966.60) PULLBACK ON RSI HOLD AND RECOVERED; currently above 50 @ 68.21 LAGGING LINE ABOVE FORMER HIGH = positive signal too On the downside the first support to look at is at 1'878 (TS) ahead of 1'848 (KS) and MBB @ 1'827 which is also the top of the...
WEEKLY (W1) Currently in a STRATEGIC DOWNTREND , roughly in the middle of the weekly clouds support area ! Ongoing weekly candle is, as for the BTC in progress for a potential INVERTED HAMMER , which of course should be validated or invalidated by the current candle closing ! During this week, the Ethereum failed to recover and hold above the TENKAN-SEN @...
Looking briefly at the WEEKLY picture, a potential INVERTED HAMMER is in progress which usually is considered as a REVERSAL PATTERN (Wait weekly closing for confirmation of this pattern) In addition watch carefully the bottom of the weekly clouds support area @ 37'516, already tested once this week; a failure to hold above that level on a weekly closing too would...
Yesterday's price action triggered a NEW LONG BLACK CANDLE which closed below the daily clouds @ 39'175 (intraday low @ 38'590) Currently below both the TENKAN-SEN @ 41'174 and the MID BOLLINGER BAND @ 40460 RSI below 50, @ 44.82 LAGGING LINE testing the KIJUN-SEN ! And last but not least, yesterday's closing was also below the former downtrend...