WEEKLY (W1) This weekly price action is showing a recovery attempt which failed to breakout the Mid Bollinger Band on a weekly closing basis ! In addition the 61.8% Fibonacci retracement @ 4'580.75 has been filled (high being 4'586) and the weekly closing was @ 4'492.50 which is exactly on the razor's hedge (double top trigger level !!!) Therefore, this...
As mentioned in my last analysis, the MID BOLLINGER BAND should be seen as a VERY, VERY, VERY IMPORTANT INDICATOR for the trend ! WEEKLY (W1) Ongoing weekly candle is showing a nice recovery attempt to breakout to the upside both weekly clouds top (42'570) and the Tenkan-Sen. Weekly closing will validate or invalidate this ongoing price action !!! DAILY...
DAILY (D1) Following the recent rally seen over the last couple of days, yesterday's price action triggered a "DOJI EVENING STAR" which closed slightly above the Mid Bollinger Band..but as this kind of pattern is usually bearish, the Nasdaq opened today with a gap and roughly at the level of the ongoing uptrend support line. Today's price acton should be monitor...
DAILY (D1) The Mid Bollinger Band remains a very good indicator which I always consider as "MY BAROMETER" ! The Bitcoin failed to recover and close above the Mid Bollinger Band and as a result, yesterday's price action triggered a long black bearish candle which closed (36'923), below the Tenkan-Sen (37'398) In this daily time frame, as long as the Bitcoin...
DAILY (D1) Once again the daily clouds worked perfectly well in rejecting the entry of the clouds resistance area. Potential mirror effect (mentioned yesterday !) in progress... Yesterday's closing (4577.50) was slightly above the Mid Bollinger Band (4542.50)and today's ongoing price action is showing an attempt to breakout the former Mid Bollinger Band...
DAILY (D1) First breakout attempt of the Mid Bollinger Band failed yesterday ! Today's price action is showing a new attempt in progress with on its way the Kijun-Sen which should also be broken on a daily closing basis ! So, in this daily time frame, the closing level later on, will tell us if the ongoing persisting downtrend is invalidated or not. Indeed,...
MONTHLY (M1) January closing level @ 4'504.25 was above the Tenkan-Sen (4'418.75) which is in this time frame a first positive signal. The pivot level in this long term time horizon is @ 4'637,50 (middle level of the December candle) A monthly closing above this pivot level would trigger a piercing line which would be positive for the upcoming month having...
MONTHLY (M1) After having reached an intra-month low @ 13'706 the Nasdaq recovered nicely to close on a monthly basis @ 14'905, slightly above the Tenkan-Sen which was in January @ 14'841.... BUT BELOW THE 15'000 AREA, which has been mentioned in my previous analysis ! 38.2% Fib ret filled @ 14'834 Indeed, a monthly and closing level above the 15'000 would...
Firstly we are going to analyse what happened last week ! Indeed, the failure to recover, at least, above the middle level of the previous candle (long black candle) confirmed that, the " BEARS " keep their advantage over the " BULLS ", at least, for the time being ! In addition, a shy weekly closing @ 37'942 slightly above the weekly clouds bottom level (@...
DAILY (D1) Despite a sharp recovery attempt seen yesterday towards an intraday high @ 14'639.75, the Nasdaq failed to recover firstly above : 1) the Tenkan-Sen @ 14'679 2) the secondary downtrend resistance line around 15'000 3) the Kijun-Sen 4) and last but not least above the Mid Bollinger Band @ 15367 and above the clouds resistance area (15676-16'052) ...
Yesterday's recovery price action, triggered on a closing basis, a "SHOOTING STAR". Indeed, after a failure to recover above the bottom of the weekly clouds and above the daily Tenkan-Sen, the BTC closed @ 36'829. Such kind of price action is, once again confirming this ongoing persisting downward pressure which is clearly showing a mode of SELL ON RALLY and...
Bearish divergence on hourly chart ! Short term trend reversal in progress Ironman8848 & Jean-Pierre Burki
Last weekly closing level @ 36'293, below the clouds and the ongoing weekly downtrend resistance line which is confirming this persisting selling ongoing selling pressure, still in a mode of "SELL ON RALLY" and not in a "Buy on dips" yet ! WEEKLY (W1) Last week price action triggered a long black candle which closed for the first time (since March 2020 !)...
After having reached a low of 34'000, the Bitcoin is attempting to recover a little bit, moving currently in a sideways direction. Levels to watch in this 4 hours time frame are the following : DOWNSIDE : Former low @ 34'000 IMPLICATION : A failure to hold and a breakout of 34'000 would put the focus for lower levels towards 31'250 (minor congestion...
Broad picture continue to be negative !!! WEEKLY (W1) Last week price action triggered a long black candle (very bearish, almost a "MARUBOZU") which roughly closed at its lowest level of the week ! Therefore, it is very important to look very carefully at the price action which took place prior to this long black candle. The week before, a perfect *DOJI"...
DAILY (D1) The breakout of the psychological 40'000 support level triggered a downside acceleration which pushed sharply down the Bitcoin towards a low so far of 35'111 ! There is something very important to highlight : Last daily closing level (36'495) was below the weekly clouds that you can see on overlay !!! Such kind of price action should be seen as a...
DAILY (D1) Following the expected sharp decline (see previous analysis !) towards a low so far of 37'684, the BITCOIN is now very close to an important support level, which is the 78,6 % Fibonacci extension retracement @ 37273 which also coincides with the bottom of the weekly clouds support area. Global picture remains heavy as technical indicators are still...
4 HOURS (H4) Currently in a corrective move triggered by a RSI bullish divergence detected on H1 (see comment below) Facing in this time frame the first significant resistance area to break : THE CLOUDS ! Interesting to note that the Kijun-Sen or Base line coincides exactly with the top of the clouds and this level (42'486) should be seen as the first...