H1 : After having reached a low of 47555, BTC is currently trying
to recover. On this time frame a move back above 49475 ,would be the
first positive signal for further upside.
Indeed, such kind of price action above the Tenkan-Sen would open
the door for the next resistance (psychological 50'000 level) ahead of the very important level of 51005 which is the Mid Bollinger Band !
A failure to do it would simply confirm the ongoing bearish price action calling for lower levels mentioned in H4 and D1 (see previous analysis posted
early this morning)
M15 : Ongoing recovery attempt, with the following resistances levels which are respectively :
49346 - 49900 - 50453
Interesting to note that those resistance levels coincides also with the clouds resistance zone
A breakout of the latter resistance above mentioned would open the door for 52'245 (former double top formation)
CONCLUSION :
ON THE UPSIDE :
WATCH THE CLOUDS ON M15
WATCH MID BOLLINGER BAND ON H1
ON THE DOWNSIDE :
WATCH THE FORMER LOW @ 47'555
FAILURE TO STAY AND HOLD ABOVE IT WOULD OPEN THE DOOR FOR TARGETS MENTIONED IN LONGER TIME FRAMES.
to recover. On this time frame a move back above 49475 ,would be the
first positive signal for further upside.
Indeed, such kind of price action above the Tenkan-Sen would open
the door for the next resistance (psychological 50'000 level) ahead of the very important level of 51005 which is the Mid Bollinger Band !
A failure to do it would simply confirm the ongoing bearish price action calling for lower levels mentioned in H4 and D1 (see previous analysis posted
early this morning)
M15 : Ongoing recovery attempt, with the following resistances levels which are respectively :
49346 - 49900 - 50453
Interesting to note that those resistance levels coincides also with the clouds resistance zone
A breakout of the latter resistance above mentioned would open the door for 52'245 (former double top formation)
CONCLUSION :
ON THE UPSIDE :
WATCH THE CLOUDS ON M15
WATCH MID BOLLINGER BAND ON H1
ON THE DOWNSIDE :
WATCH THE FORMER LOW @ 47'555
FAILURE TO STAY AND HOLD ABOVE IT WOULD OPEN THE DOOR FOR TARGETS MENTIONED IN LONGER TIME FRAMES.
