DAILY (D1) Yesterday's price action triggered a long black bearish candle which went (as expected,see my previous analyisis) down towards the clouds bottom support level @ 40'088 ! BTC is currently below : 1) the Tenkan-Sen or Conversion line (TS) 2) the Mid Bollinger Band (MBB) 3) the ongoing former uptrend support line (in green) Nevertheless, still above...
Looking at the DAILY picture, a "Diamond" pattern is in progress and is currently trying to upside breakout the downtrend resistance line of this bullish pattern. Last but not least, the Kijun-Sen or Base line also coincides with the upside breakout level of this Diamond pattern, which if broken would also give, an additional confirmation signal, calling for...
DAILY (D1) Yesterday's price action on one hand, above the cluster of TS (14'549) and MB (14'570) but..be careful, the shape of the yesterday's candle ( a doji hanging man , is a warning reversal signal which is also validated by the pullback failure to recover and hold above the former uptrend support line (in green) Indeed, today's ongoing price action is...
WEEKLY (W1) In a broading sideways price action (1677-1919) and under the influence of a DOUBLE BOTTOM IN PROGRESS ( see related ideas below) Currently above the clouds with a Lagging line above the clouds too ! Global weekly picture is positive, calling for a test of the former high @ 1'919 which should be seen as a KEY PIVOT LEVEL for the next...
4 HOURS (H4) Recent price action is showing that, for the time being the top clouds support area (43'325), rejected two successive breakout attempts (43'312 and 43'367) with its H4 closing level, respectively @ 43'650, but directly neutralised by the next white long candle (bullish engulfing pattern) with a failure of confirmation on this potential ongoing...
4 HOURS (H4) Above the 4 hours clouds, supported by the ongoing H4 uptrend support line and currently under the new downtrend resistance line. Watch : Upside : former high @ 44'785 Downside : ongoing support trend line (currently around 43'650 which is also the top of the 4 hours clouds. A breakout of one of those 2 levels will show further direction RSI...
DAILY (D1) After having reached, yesterday an intraday low @ 41'575, the BTC recovered to close @ 42'077 in making a "small" BULLISH ENGULFING pattern. Ongoing price action is showing a first important resistance to break, which is the TENKAN-SEN or Conversion Line @ 43'712 and this, of course on a daily closing basis ! Looking on the downside, the BTC, in...
WEEKLY (W1) Following the breakout which occured a couple of weeks ago, we can identify a sideways/up consolidation price action. Indeed, a natural pullback took place which has been rejected by the former downtrend line resistance which became now the new support area (currently around 1.67 %) and slightly below the Tenkan-Sen (@ 1.7080 %) which should be seen...
WEEKLY (W1) Failure of the upside breakout of the weekly clouds triggered a SHOOTING STAR (reversal pattern !) ! In addition, the last weekly closing level @ 42'077 was also below the Tenkan-Sen (42'524) which is also an additional bearish signal calling for a trend reversal towards the bottom of the clouds and potentially lower. Next support to look at in...
Last weekly candle triggered a BEARISH ENGULFING PATTERN ! Indeed, the failure to : 1) Recover above the Mid Bollinger Band 2) Hold above Kijun-Sen and Tenkan-Sen is confirming this persisting downward pressure in this weekly time frame. Looking ahead, it is likely to see an ongoing downside move with temporary recovery attempts in a countertrend tactical...
Today, we are going to look at the 4 hours chart which is showing several (at least 5 !) interesting things 1) Double top in progress 2) RSI bearish divergence 3) Doji top, followed by a bearish engulfing pattern 4) Breakout of the Mid Bollinger Band 5) Lagging line cross under the Kijun-Sen and last but not least, currently the BTC is already in the middle of...
Yesterday's price action, second consecutive long black candle, which firstly confirmed the previous BEARISH ENGULFING PATTERN (Feb 10th) and secondly broke, on a closing basis the base of a triangle pattern. Global picture is not encouraging for the upcoming week and this triangle pattern gives a technical target @ 12'862 which is roughly the same level of the...
No additionnal comnent ; this 4 hours chart speaks for itself ! Bullish above the Mid Bollinger Band and Bearish below in this H4 time frame ! (Closing basis) All the best Ironman8848 & Jean-Pierre Burki
Following the nice rally seen over the last couple of days, recent price action triggered a potential double top formation in progress , coupled with a RSI bearish divergence and last but not least, the last H4 candle is showing also a BEARISH ENGULFING PATTERN. Therefore, upcoming candle price action should be watch at very carefully as a failure to recover...
DAILY (D1) Yesterday's price action triggered a "DOJI" candle with its closing level, exactly at the daily clouds bottom level ! Today's ongoing price action, is for the time being, showing a potential reversal in progress , which, of course, needs to be confirmed on a daily basis closing (either by a dark cloud cover or even better by a bearish engulfing...
DAILY (D1) The "minor" 61.8% Fibonacci retracement @ 44'783 of the last downside move (52'098 "shooting stars) towards 32'950) has been filled. Above that level there is a very important area (DAILY CLOUDS) which should ultimately be broken in order to confirm further upside ! Indeed, a failure to do it would reopen the door for a downside consolidation move...
If you look at this 4 hour chart, I do not need to post any comment ...as it is pretty clear :-) "May your long goes up and your short goes down". Watch on which side the breakout will occur and act accordingly. Good luck . Ironman8848 & Jean-Pierre Burki
WEEKLY (W1) Last week price action is showing a failure to recover and hold above both Tenkan-Sen @ 15'182 and the Mid Bollinger Band @ 15'577 which, for the time being is confirming that the recent recovery was a corrective move only in a broad new bear trend. Look at the shape of the last candle and make your conclusion ! RSI below 50, @ 43.62 Lagging line...