DAILY (D1)
Yesterday's price action, triggered a long white candle, which, usually is a BULLISH signal... but the failure to cross over and close above the CLUSTER (39'700-39'900 area) triggered new selling pressure which once again cross underthe ongoing daily support trend line, currently around 39'300 !
Interesting to note that the CLUSTER , also coincides...
WEEKLY (W1)
Weekly closing @ 37'790 just slightly above the weekly clouds support level @ 37'516.
We, very often, hear "jamais 2 sans 3" and we saw the third weekly candle closing, in a row, above the bottom of the weekly clouds support area...
Ongoing price action is showing a recovery attempt within the clouds and in this weekly time frame, we have to...
DAILY (D1)
After having, yesterday reached an intraday low @ 38'244 in testing the ongoing support trend line, the BTC closed @ 38'780 , below the clouds and the cluster of Tenkan-Sen and Kijun-Sen and last but not least, below the MID BOLLINGER BAND too !
Therefore, on the DAILY TIME FRAME, there are 2 levels to watch at and monitor carefully, and this...
WEEKLY (W1) $
Last week price action triggered an INVERTED HAMMER PATTERN, which usually should be seen as a bullish warning signal; nevertheless, in this case, I would remain very cautious before to conclure that the downside pressure is over and we can see a STRATEGIC TREND REVERSAL ; the weekly closing level @ 38'438 was below the TENKAN-SEN !
Indeed, the...
WEEKLY (W1)
Currently in a STRATEGIC DOWNTREND , roughly in the middle of the weekly clouds support area !
Ongoing weekly candle is, as for the BTC in progress for a potential INVERTED HAMMER , which of course should be validated or invalidated by the current candle closing !
During this week, the Ethereum failed to recover and hold above the TENKAN-SEN @...
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...
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)
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...
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...
DAILY (D1)
After having reached, yesterday an intraday low @ 41'575, the BTC recovered to close @ 42'077 in making
a "small" BULLISH ENGULFING pattern.
Ongoing price action is showing a first important resistance to break, which is the TENKAN-SEN or Conversion Line @ 43'712 and this, of course on a daily closing basis !
Looking on the downside, the BTC, in...
WEEKLY (W1)
This weekly price action is showing a recovery attempt which failed to breakout the Mid Bollinger Band on a weekly closing basis !
In addition the 61.8% Fibonacci retracement @ 4'580.75 has been filled (high being 4'586) and the weekly closing was @ 4'492.50 which is exactly on
the razor's hedge (double top trigger level !!!)
Therefore, this...
