GLOBAL PICTURE DAILY (D1) After having reached, yesterday, an intraday high @ 35'332 and nearly achieved a full Fibonacci retracement (former high @ 45'850), the BTC lost momentum and as a result, closed slightly above the middle of the previous white candle which mean, that yesterday's price action, roughly triggered a DARK CLOUD COVER (Bearish warning...
Looking at the intraday hourly price action, a TRIANGLE PATTERN has been identified ! Indeed, after having reached a high @ 44'981 which triggered a RSI BEARISH DIVERGENCE, the BTC moved in a sideways, slightly down price action, in making a TRIANGLE PATTERN which is currently in a downside breakout progress (watch pullback !) which will validate or...
As mentioned in my previous analysis, shorter time frames should be used to validate or invalidate the expected scenario and in the case of the Bitcoin yesterday's price action has really been a school case... Indeed, the BTC went sharply up and broke successfully the resistance levels on each intraday and daily pictures. FOR THE TIME BEING, THE BITCOIN IS...
WEEKLY (W1) Looks like a corrective move which should, for the time being, be seen as a consolidation phase or pullback towards the triangle pattern breakout level ! Indeed, looking at the weekly picture, we can identify two important support levels, which are the following : S1 : 1.7960 (Tenkan-Sen) also roughly the 38.2% Fib ret (@ 1.7850 % of the last...
WEEKLY (W1) Last week price action triggered a sharp decline which reached nearly my technical target @ 12'894 (low being @ 13'015). After having briefly broken the weekly clouds support, the Nasdaq recovered nicely (HAMMER) and closed roughly at the top of the week @ 14'180 (high being 14'196). Nevertheless, it failed to cross over the secondary downtrend...
WEEKLY (W1) Another high volatility price action seen last week between a low of 34'324 and a high of 40'330... which provided, several TACTICAL TRADING OPPORTUNITY IN A BROAD BEAR TREND WHICH RESTARTED TWO WEEKS AGO @ 45'850 !!! Failure to hold above the psychological 40'000 and close above 40'225 which is the middle level of the previous weekly long black...
WEEKLY (w1) The 50% Fibonacci retracement @ 40'087 of the last downside move (45'850-34'324) has been filled , intra-day high being 40'330. Upcoming weekly closing level will be very important for further development; indeed, a weekly closing above 40'225 would trigger a PIERCING LINE PATTERN, which would be a first positive bullish signal for the next...
Sharp rally seen yesterday which pushed the Gold Futures to an intraday high @ $ 1'976.50. An healthy corrective and consolidation move took place and this recent price action should be seen as a constructive price action calling for further upside over the upcoming trading sessions. Tenkan-Sen @ 1'911 should be the first level to look at on a daily closing...
As expected and mentioned in my previous analysis published yesterday morning we saw an increasing volatility which triggered a trading range between 34'324 reached early yesterday morning towards an intraday high @ 39'720. WEEKLY (W1) Main levels to look in this weekly time frame remains : UPSIDE : 42'524 /43'673 DOWNSIDE : 37'365 DAILY (D1)...
As expected and mentioned in my previous analysis, the recovery attempt has been short lived and the failure to recover above the 39'000 area triggered a new wave of selling pressure which pushed sharply down the BTC towards an intraday low of 34'324 !!! After this sharp decline, it is likely to see some little recovery which, in this broad bearish strategic...
DAILY (D1) The BTC is currently below : 1) the weekly clouds 2) the daily clouds still slightly above the monthly clouds bottom, currently @ 36'061. Yesterday's closing level @ 37'076, below the 61.8% Fibonacci retracement (37'877) ! Persisting selling pressure which is likely to push the BTC lower towards the next support level around the 37'000 area...
WEEKLY (W1) Ongoing downside price action, close to the former low of 13'706 reached in January ahead of the first technical target I am still calling for @ 12'894 (see my previous analysis), which is the 38.2% Fibonacci retracement of the big rally (6'628.75 - 16'767.50) A move towards this level would confirm a downside breakout of the clouds bottom...
WEEKLY (W1) The 61.8% Fibonacci retracement @ 37'877 has roughly been filled with an intraday reached yesterday 37'974... Nevertheless, global picture remains heavy ! Indeed, last week price action triggered a LONG BLACK CANDLE with its closing level nearly at its bottom which is usually a bearish confirmation of the ongoing trend. In addition, the...
DAILY (D1) Yesterday's price action (DOJI) is confirming this ongoing persisting downside move ! Indeed, the expected short term recovery has been short lived, providing better selling opportunity. The BTC nearly filled the 50% Fibonacci retracement @ 39'400 /intraday low being so far @ 39'492 and global picture remains heavy. Interesting to look at the...
4 HOURS (H4) The double top target @ 39'552 has been filled with an intraday low @ 39'450, roughy also filled the 50% Fibonacci retracement @ 39'400 mentioned in my previous analysis. No bullish divergences detected so far ! Lagging line below the clouds too. RSI below 50, @ 34.09 Nevertheless, after this nice decline, it is likely, on short term to...
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...