M1 : Ongoing trend reversal in progress. Pivot level on M1 closing
@ 52'021. 38.2% Fib ret @ 41'575 !
BULLISH ABOVE
BEARISH BELOW
W1 : 48680 on W1 closing is VERY IMPORTANT !
D1 : 2 dojis on a row ! Ongoing candle is currently attempting to breakout
the support line in green. Watch carefully at today's closing level and a failure
to hold above the 49'000 area would be a first warning on this time frame !
H4 : The expected downside triangle breakout expected yesterday did not occured...
Sorry guys... Nevertheless, last couple of H4 trading period is showing a 48500-51500
sideways trading range, with the MBB leading indicator, currently @ 51530. Therefore,
as long as BTC stay below MBB, the trend will remain oriented to the SOUTH !!
On the downside a failure to hold above the 48500 area would open the door for a new
48500-45000 trading range.
H1 : Failure, yesterday, to breakout the clouds resistance triggered a new selling pressure
from the intraday's peak of 51'572. Currently attempting to breakout the clouds support zone.
M30 : Sideways price action within the clouds in a downtrend mode.
M15 : In a downtrend move, below the clouds
M5 : Below the clouds. Recovery attempt, watch the clouds
CONCLUSION : BTC REMAINS A SELL ON RALLY CALLING FOR LOWER LEVELS.
ONLY A SUSTAINABLE MOVE ABOVE 51'500 WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH
SCENARIO
Have a great weekend.
All the best
Take care.
And please, if you find my work is added a value on your trading activity, do not forget to like it and if it is not done yet,
to add Ironman8848 in your following list :-)
Many thanks in advance
Inronman8848
@ 52'021. 38.2% Fib ret @ 41'575 !
BULLISH ABOVE
BEARISH BELOW
W1 : 48680 on W1 closing is VERY IMPORTANT !
D1 : 2 dojis on a row ! Ongoing candle is currently attempting to breakout
the support line in green. Watch carefully at today's closing level and a failure
to hold above the 49'000 area would be a first warning on this time frame !
H4 : The expected downside triangle breakout expected yesterday did not occured...
Sorry guys... Nevertheless, last couple of H4 trading period is showing a 48500-51500
sideways trading range, with the MBB leading indicator, currently @ 51530. Therefore,
as long as BTC stay below MBB, the trend will remain oriented to the SOUTH !!
On the downside a failure to hold above the 48500 area would open the door for a new
48500-45000 trading range.
H1 : Failure, yesterday, to breakout the clouds resistance triggered a new selling pressure
from the intraday's peak of 51'572. Currently attempting to breakout the clouds support zone.
M30 : Sideways price action within the clouds in a downtrend mode.
M15 : In a downtrend move, below the clouds
M5 : Below the clouds. Recovery attempt, watch the clouds
CONCLUSION : BTC REMAINS A SELL ON RALLY CALLING FOR LOWER LEVELS.
ONLY A SUSTAINABLE MOVE ABOVE 51'500 WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH
SCENARIO
Have a great weekend.
All the best
Take care.
And please, if you find my work is added a value on your trading activity, do not forget to like it and if it is not done yet,
to add Ironman8848 in your following list :-)
Many thanks in advance
Inronman8848
Weekly closing level later on will be very important for next week
Have a nice evening
All the best
Ironman8848