D1 : Global picture is showing a downtrend channel still in place. In addition, for the time being, the ongoing recovery attempt price action failed, so far, to recover above Kijun-Sen (47275) which is the first level to break in order to neutralise the remaining bearish price action. A move above Kijun-Sen would be the first step to...
D1 : In a broad bear trend downtrend channel, yesterday's price action triggered a "doji", which close just above the important support level of Kijun-Sen. Today's ongoing price action, broke KS and former low of 44151 in reaching a new intraday low @ 43782 ! Indicators are still pointing to the South. In addition, current price action is...
H4 : Recent price action triggered a doji pattern (indecision and uncertainty), with its intra H4 low testing Tenkan-Sen. It is currently traded below the middle of the short term uptrend channel. Continue to watch Tenkan-Sen as a first support and then bottom of the channel; lower focus will be on former low @ 44151 ahead of 43577 (50% Fib...
H1 : Current price action is showing a sideways-slightly up channel within a broad bear trend in H4 and D1. Kijun-Sen rejected a breakout attempt and is likely to trigger some rebound again. No change in my view, watch the clouds and the Fibonacci retracement, respectively the 50% @ 48115 (also the top of the clouds !) and the 61.8% @...
H4 : Currently in a sideways-slightly up trading channel.. but still below both KS and MBB ! As mentioned in my previous analysis (see D1), recent and current price action should still be seen as CORRECTIVE MOVE ONLY and not as a trend reversal yet ! First significant support remains Tenkan-Sen ahead of the bottom line of the channel. ...
D1 : After having broke in an intraday basis the Kijun-Sen and reached a low of 44151, BTC recovered nicely, to close @ 46315, above KS. Global picture remains heavy. Indeed, despite the rebound seen recently, BTC is still below Mid Bollinger Band which remains a very good "barometer" indicator as you can see in the past. Therefore, I...
H4 : After three successive failures to breakout the Mid Bollinger Band, current ongoing candle is trying again to upside breakout MBB. Important to note that MBB coincides also roughly with the secondary downtrend line resistance. Therefore, a breakout of that area, on a closing period basis, would be the first positive signal for ...
W1 : A potential mirror effect triggered by an ongoing Bearish Engulfing pattern (to be confirmed in W1 closing !) is in progress. The 23.6 % Fib ret @ 45491 of the 3850-58354 rally has already been filled. In addition, there is also a RSI bearish divergence in progress which is not been confirmed yet. Next important support level to watch is...
H4 : Recent price action is showing an attempt to breakout the Mid Bollinger Band support (wait for confirmation !) Indeed, from the recent top we can see 2 bearish black candles and the ongoing candles will validate or invalidate the ongoing tactical bearish price action which is for the time being in a 58350-54500 trading range. If MBB hold...
D1 : As expected, (Tks to Elon !)..., the Monday's breakout of former high @ 42000 triggered a sharp acceleration move towards a high so far of 48200, close to the psychological target mentioned of 50'000. (see my previous Heat Map post). Looking at yesterday's price action, we can see a "school case", perfect "doji" pattern which means indecision and...
D1 : Double top in progress, coupled with a bearish engulfing pattern (which should be confirmed on a closing basis !) In addtion technical indicators are showing bearish divergences... Watch MBB and TS @ 1.0960 as leading indicators for further development. Indeed, a failure to hold above the 1.1000 area would directly put the focus on 1.0460...
H4 : Last candle triggered as shooting star coupled with a potential double top in progress. In addition indicators are also in divergences process Watch : 36477 (TS), 35300 (MBB) and 35280 (KS) 35300 should be seen as a very important support area in this time frame Failure to hold above it would open the door for : S1 :35002 ...
H4 : Take a few seconds for looking back what happened since the peak reached 3 weeks ago ! Indeed, you can see that the downtrend (falling wedge in progress) is still intact. 1) Several recoveries attempt (upside breakout failures occured; the most important attempt being the one seen a couple of days ago ; A) A long white...
H4 : As both KS and former support trend line hold, it triggered an ongoing new recovery attempt in progress. It is not a surprise to see that the pivot point is at the same level than the one seen in D1 (see my previous post) Indeed, first Fibo ret is @ 35060 and TS @ 35305 Therefore, in order to maintain the current upside biais, it is...
D1 : Despite a strong recovery attempt seen yesterday (thanks to Mr Elon Musk...which "help" and triggered a sharp upside move in a couple of hours (31990 towards 38620 !), BTC did not manage to close and hold above the downtrend line resistance which is still in place and which worked perfectly well in rejecting 5 times breakouts attempts ! ...
D1 : Despite a strong recovery attempt, yesterday's closing price @ 13186, did not confirmed yet that the downside risk is over. Indeed, the failure to close, at least above 13306, which is the middle of the former long bearish black candle is a first signal that the ongoing new bear trend is in progress. Today's price action will also be...
D1 : 30'000 filled yesterday with an intraday low @ 29150 Today's price action is showing a new recovery attempt with an upside potential pretty limited. Indeed, TS currently @ 32620 ahead of the 61.% Fib ret @32652 of the last downside move will be the first important resistance area to break. Current price action should still be seen as a...
D1 : Indeed, the failure, yesterday to recover above the former countertrend support trend line should be seen as a negative factor for those who are still strategically bullish on BTC ! W1 picture is also on a negative ongoing process... For short term analysis, have a look at : H4 : 2 failures to upside breakout above the short term...