DAILY (D1)
Ongoing downtrend stil in place caught in a 46'650-50'650 trading range.
Below Tenkan-Sen, Kijun-Sen and Mid Bollinger Band.
RSI below 50, @ 38.31
All ingredients are in for further downside in a STRATEGIC perspective, of course.
Countertrend trading opportunities (long exposure) should, and I insist be very carefully monitored in applying a...
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 :
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...
