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 (@...
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) 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...
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...