BTCUSD-D1/H4 TIME FRAMES
DAILY (D1) :
On that time frame, the BTCUSD is moving in a broad sideways channel (46'650 - 50'500); nevertheless,
pressure remains on the downside as current level is still :
1) below the Mid Bollinger Band
2) below the primary downtrend line resistance
3) below the Kijun-Sen
Watch Tenkan-Sen (48'500), roughly in the middle of the sideways channel above mentioned; this level should be seen and considered as a good barometer, opening respectively
the door for the top of the bottom of the ongoing sideways trading range.
Watch also price action on the Lagging line which is still far below the clouds, TS and KS...
RSI below 50 , @ 39.63 !
On the upside, as long as the BTCUSD is not able to recover sustainably above the 50'000-50'500, the pressure will remains to the downside !
On the downside a failure to hold above the bottom (@ 46'650) of this ongoing sideways channel would then reopen the door for lower levels, calling at least for a retest of the 42'000 area, former
low reached on December 4th.
4 HOURS (H4) :
As you can see the clouds did, so far, perfectly "the job", in rejecting several upside breakout with success !!!
Levels to watch are similar with those previously mentioned on D1 analysis and corroborate perfectly the implication of a breakout on one way or the other.
On the upside, watch the clouds resistance area which if broken, would be the first signal of an upside move continuation, while on the downside the first significant support in this area is currently between
48275-47'870, ahead of 46'650, which is also the bottom of the sideways channel mentioned on the daily picture
Finally, as usual, watch shorter intraday time frames which will help you to detect early signal (s) in allowing you to act accordingly. Do not forget to manage efficiently and protect your long tactical exposure as
we are still in a SELL ON RALLY, strategically speaking and not yet on a buy on dips...
Have a great trading day and all the best.
Take care.
Last but not least, if you like my analysis, firstly like it and secondly if you do not follow me yet, please add me on your following list.
Many thanks in advance.
Ironman8848 & Jean-Pierre Burki
On that time frame, the BTCUSD is moving in a broad sideways channel (46'650 - 50'500); nevertheless,
pressure remains on the downside as current level is still :
1) below the Mid Bollinger Band
2) below the primary downtrend line resistance
3) below the Kijun-Sen
Watch Tenkan-Sen (48'500), roughly in the middle of the sideways channel above mentioned; this level should be seen and considered as a good barometer, opening respectively
the door for the top of the bottom of the ongoing sideways trading range.
Watch also price action on the Lagging line which is still far below the clouds, TS and KS...
RSI below 50 , @ 39.63 !
On the upside, as long as the BTCUSD is not able to recover sustainably above the 50'000-50'500, the pressure will remains to the downside !
On the downside a failure to hold above the bottom (@ 46'650) of this ongoing sideways channel would then reopen the door for lower levels, calling at least for a retest of the 42'000 area, former
low reached on December 4th.
4 HOURS (H4) :
As you can see the clouds did, so far, perfectly "the job", in rejecting several upside breakout with success !!!
Levels to watch are similar with those previously mentioned on D1 analysis and corroborate perfectly the implication of a breakout on one way or the other.
On the upside, watch the clouds resistance area which if broken, would be the first signal of an upside move continuation, while on the downside the first significant support in this area is currently between
48275-47'870, ahead of 46'650, which is also the bottom of the sideways channel mentioned on the daily picture
Finally, as usual, watch shorter intraday time frames which will help you to detect early signal (s) in allowing you to act accordingly. Do not forget to manage efficiently and protect your long tactical exposure as
we are still in a SELL ON RALLY, strategically speaking and not yet on a buy on dips...
Have a great trading day and all the best.
Take care.
Last but not least, if you like my analysis, firstly like it and secondly if you do not follow me yet, please add me on your following list.
Many thanks in advance.
Ironman8848 & Jean-Pierre Burki
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