MEDIUM / LONG TERM BUYING OPPORTUNITY WITH A STRONG STORY BEHIND !!! BUY AT CURRENT LEVEL AND ADD ON DIPS. MEDIUM/LONG TERM TARGET : $ 37.05 - $ 55.68 - $ 70.73 DAILY (D1) : Yesterday's price action triggered a potential double bottom formation in progress coupled with a RSI bullish divergence. In addition, the daily closing price (@24.30) is above the...
DAILY (D1) : On that time frame, the BTCUSD is moving in a broad sideways channel (46'650 - 50'500); nevertheless, pressure remains on the downside as current level is still : 1) below the Mid Bollinger Band 2) below the primary downtrend line resistance 3) below the Kijun-Sen Watch Tenkan-Sen (@48'500), roughly in the middle of the sideways channel above...
DAILY : The ongoing Head and Shoulders formation detected on Dec 9th (see related ideas) is taking shape: indeed, looking at the recent price action we can see the following : 1) before yesterday (Dec 13th), a breakout of both, Mid Bolllinger Band and Kijun-Sen 2) yesterday Dec 14th), confirmation by a daily closing below the Tenkan-Sen. Therefore, the former...
H4 : Recent and current price action is still in a corrective recovery move and currently still below the H4 clouds, attempting to upside breakout the secondary downtrend line resistance. In its recent move, the BTCUSD, as expected, already reached the 50% Fibonacci retracement (50'800 - 45'750) @ 48'275 which also, should be seen as the first pivot level for...
H4 : The failure to hold above the KEY PIVOT LEVEL (support cluster) mentioned yesterday triggered a sharp downside breakout which pushed the BTCUSD towards a low so far of 45'750. The ongoing small recovery has started by a "doji" pattern but once again the upside potential is likely to be pretty limited and should still be seen as a corrective move in a broad...
H4 Once again the clouds worked perfectly well in rejecting an upside attempt breakout which has been directly followed by a short term trend reversal. As already mentioned, any recovery seen over the last couple of sessions should only be seen as a TACTICAL CORRECTIVE MOVE in a broad bear trend which took place from ATH (@ 69'000) and which has been confirmed...
H1 : The ongoing downtrend I mentioned yesterday morning is still intact. In addition, for the time being, the clouds, once again, did "the job" ! After having attempt several times to get out of the downtrend channel base, the BTCUSD, a couple of hours ago recovered, from its low reached of 46'789 (so far !) towards the H1 clouds resistance,currently between...
Last week price action triggered an "Harami" pattern, which is likely to trigger further sideways price action over the coming days ! Indeed, usually such kind of pattern, following a long black candle is normally bullish if the last candle is very small in comparison with the previous one, which is not the case now as the last weekly candle is pretty "big"...
Quick update on the intraday one hour chart which is showing an ongoing downtrend channel ! Currently below the clouds (which are roughly around the 50'000 psychological level, below Kijun-Sen, still slightly below Mid Bollinger Band and slightly above Tenkan-Sen. Selling pressure remains heavy and in order to neutralise it (in this short term 1 hour time...
Looking at the daily time frame a "potential" Head and Shoulders in progress has been identified ! Ironman8848 & Jean-Pierre Burki
DAILY : For the third consecutive day, the BTCUSD closed, on a daily basis below the Tenkan-Sen (TS) or Conversion line ; such kind of price action should be seen as a additional warning signal of a ongoing bearish trend. More over the last two trading days, triggered a "DOJI" pattern which is also a sign of uncertainty and indecision ! The first support...
DAILY : As mentioned in my previous analysis written 2 days ago, the expected recovery took place on a CORRECTIVE TACTICAL MOVE ONLY... and not as a strategic trend reversal yet !!! Indeed, so far the Tenkan-Sen, currently @ 50'608, worked well in rejecting its upside breakout and yesterday's price action, after having roughly reached an intraday of roughly...
WEEKLY : Fifth consecutive black candle...The 61.8% Fib ret @ 0.00003702 has already been filled with an intraweek low @ 0.00002915 reached last week. Global picture does not smell good !!! Indeed on this time frame the pressure remains to the downside ! DAILY : In an ongoing downtrend move; below the clouds, the Kijun-Sen, the Mid Bollinger Band and the...
WEEKLY : Still in its ongoing uptrend channel, last weekly closing above the Tenkan-Sen. Ongoing weekly candle is going down... Watch Mid Bollinger Band and bottom line of the uptrend channel as the first significant support level as a weekly closing below 3'700 would open the door for lower levels towards the Kijun-Sen, currently @ 3'285 DAILY : Currently...
WEEKLY : Following its weekly closing @ 49'463, below the former uptrend support line, the BTCUSD began the week in the red again. DAILY : Indeed, last daily closing triggered a "DOJI" pattern which confirm growing uncertainty about further development and which looks like an increase of the selling pressure. RSI @ 31.38 H4 : Looking now at the 4 hours...
Looking at the latest week price action we can see that this indice is currently potentially in big trouble !!! Indeed, if you go back towards the low reached in March 2020, you can see that each time, the selling pressure has been stopped by both the Mid Bollinger Band and the Kijun-Sen !! Magical isnt'it ? Not at all, it is the powerful Ichimoku approach...
Last week price action triggered, as for the US 10 years, a long black candle which in this case also broke the weekly bottom clouds support level @ 1.85. The US 30 years is currently on an ongoing downtrend channel, very close to the 50 % Fibonacci retracement @ 1.6130 (0.71-2.5160); RSI below 50 @ 34.04. Watch closely price ongoing price action and monitor...
Last week price action triggered a long black candle which broke on a weekly closis basis, both the Mid Bollinger Band and the Kijun-Sen or Base line. Such kind of price action should be seen as a negative (yield ) signal, calling for lower levels. In addition, the former uptrend support line which stated at the beginning of August @ 1.1270 has also been broken...