WEEKLY (W1) In the weekly time frame, the Bitcoin remains under the influence of a MAJOR DOUBLE TOP IN PROGRESS !!! The ongoing downtrend price action is still intact as the BTC is below : 1) the ongoing downtrend resistance line 2) the Tenkan-Sen & Conversion line (@ 49'537) 3) the Kijun-Sen & Base line (@ 52'141) Note also the important barometer, which...
4 HOURS (H4) The sideways price action continues inside the 4 hours clouds. As already mentioned yesterday, a breakout of the clouds (43'250 upside and 41'7870 on H4 closing basis), in one way or the other will open the door for the following targets : A) UPSIDE : R1 : 44350 R2 : 45'828 (VERY IMPORTANT !) R3 : 47'308 B) DOWNSIDE : S1 : 40'000...
4 HOURS (H4) In this 4 hours time frame, we can see a sideways price action which is currently roughly in the middle of the clouds area and around the cluster zone (42-625-43097). Such kind of price action is showing some growing uncertainty about further development and a breakout outside of the clouds will have the following implications : 1) On the upside...
4 HOURS (H4) Two successive failure attempts to breakout the clouds resistance triggered a reversal move from its recent top @ 4'739.50 towards a low so far of 4'606.75, filling in its way both the 61.8% Fibonacci retracement (4'572.75-4'739.50)@ 4'636.50 and the 78.6% Fib ret @ 4608.50 Global picture in this time frame does not look very encouraging as...
DAILY (D1) 1. Below the clouds 2. Below both Kijun-Sen and Mid Bollinger Band 3. Yesterday's candle triggered a BEARISH ENGULFING PATTERN but... slightly above the Tenkan-Sen or Conversion line, currently @ 42'007 (Comme James Bond :-) Last, but not least the Chikou-Span or Lagging line is currently showing a sideways trading range, far away below the...
4 HOURS (H4) A RISING WEDGE is in progress on the 4 hours chart. 61.8% Fibonacci retracement @ 4'718.25 filled early in the morning and since then the SP500 moved in a sideways price action in making a first DOJI before the last ongoing candle. The recent "corrective" rally failed to recover above the H4 clouds resistance which are slightly above the 61.8%...
DAILY (D1) 3 successive dojis in a row which is showing growing uncertainty about further development which is, for the time being still calling for further downside in this daily time frame. The ongoing candle is also, showing a doji pattern in progress (validation or invalidation will be given on today's closing basis) As already mentioned in my previous...
WEEKLY (W1) Last week price action triggered a long black candle which went down towards an intra-week low @ 40'517, testing the top of the weekly clouds area. This week ongoing price action will be very interesting as there is a strong support zone between 40'860 and 37'360 ! Global picture is showing a major double top formation in progress, coupled with a...
Ongoing selling pressure pushed the BTCUSD down towards the 41'000 area. DAILY (D1) Below the clouds and all Ichimoku lines ! Also below the Mid Bollinger. RSI is still converging to the downside. Next support level is the psychological 40'000 ahead of 39'575 former low of October where daily clouds rejected further downside, but this time the story is...
First 2022 trading day, triggered, yesterday a nice move; indeed, we say, on a daily basis, three important things : 1) breakout of the daily clouds resistance 2) Crossover of the Tenkan-Sen 3) Chikou-Span crossover of cluster Still one resistance level to break which is the ongoing downtrend line resistance and the former highs, respectively @ 1.7050% and...
As you can see on the Daily chart, the BTCUSD is traded in a sideways price action caught between 45'500 on the downside and 52'000 on the upside. Inside this trading range, the middle of the sideways channel @ 48'800 should be seen as the barometer (Bullish above and bearish below on a daily closing basis, of course !) Watch also RSI price action which is for...
4 HOURS (H4) Broad sideways price action (45'500-52'000) with, roughly in the middle of the range the clouds resistance area which for the time being, should be seen as a major zone to break, in order to neutralize this persisting ongoing downside selling pressure. Interesting to look at the Chikou-span price action (have a look back to what happened at the...
MONTHLY (M1) Ongoing double bottom formation in progress. December closing level (@ 1828.60), which is also above KS, TS and Mid Bollinger added further support, calling for higher levels. The double bottom trigger level is @ 1'919 and a breakout confirmation of this level would activate the ongoing double bottom formation in progress, calling for a technical...
We are going to look at the long term picture (monthly) which triggered, on December closing basis, a SHOOTING STAR ! (similar pattern took place in April 2020...) Indeed, after having failed to upside breakout the monthly clouds resistance, the BTCUSD closed roughly at the bottom of the clouds. Therefore, last month price action should be seen as the first...
Firstly, I wish you an happy New Year, all the best and take care ! Today we are going to look closely at the recent and current price action on the 4 hours chart. We also will have a quick view on daily, weekly and monthly charts too with respective implications on longer time frames. H4 The long black candle which took place between 17:00 and 21:00...
Looking at the 4 hours time frame (H4) a potential inverted Head and Shoulders is in progress. Neckline (currently around 47'800) coincides also with the Mid Bollinger Band resistance level and and breakout of those level on a H4 closing level would activate this reversal formation and open the door for a technical target of roughly 50'000...which is also the...
Today we will look at different time frames and we will begin with the hourly chart, then the 4 hours and finally the Daily. 1 HOUR (H1) In this short term time frame we already can identify some minor bullish divergences which triggered this short term reversal which has already crossed over both the TS and KS, facing currently the Mid Bollinger Band which...
Good morning, yesterday's long black candle, (after the shooting star, the day before !) activated my stop loss at 48'309. Indeed, the failure to hold above the former support zone (cluster of KS,TS and MBB, triggered an acceleration towards a low reached, so far at 47'300). Looking at this daily picture, I have to say that, currently the BTCUSD is in trouble...