bBTC-CAUGHT BETWEEN CLOUDS AND KIJUNSEN
DAILY (D1)
The BTC is caught between two important levels, which are :
on the downside, the DAILY CLOUDS SUPPORT ZONE (39'900-40'100
on the upside, the WEEKLY KIJUN-SEN (in overlay in the daily chart )
Therefore, ONLY A CLEAR AND SUSTAINABLE BREAKOUT OF ONE OF THOSE LEVELS WOULD SHOW THE NEXT DIRECTION.
WEEKLY (W1)
In this regard, the upcoming weekly closing level, would also be important for further development in the weekly time frame as the weekly clouds bottom level, also coincides with the important and psychological 40'000 support level .
4 HOURS (H4)
The 4 hourly KIJUN-SEN, act perfectly well as resistance level so far (currently @ 40'816) and should still be seen as a good leading intraday indicator for further development.
The BTC is currently in this time frame, below bot MBB and KS , which should be seen as the first resistances levels to break before the Kijun-Sen, slightly higher.
1 HOUR (H1)
After having filled the 50% Fib ret @ 41'334, in reaching yesterday, an intraday high @ 41'557, the BTC failed to maintain its upside bias and went down in falling, again, below the hourly clouds and below the MBB , which is currently under upside breakout attempt.
The HOURLY CLOUDS AREA (40'415-40'936) remains the zone to watch at very carefully as short term resistance zone and on the downside, monitor the former double bottom lows slightly above the 39'000 area.
IRONMAN8848 - Jean-Pierre Burki
The BTC is caught between two important levels, which are :
on the downside, the DAILY CLOUDS SUPPORT ZONE (39'900-40'100
on the upside, the WEEKLY KIJUN-SEN (in overlay in the daily chart )
Therefore, ONLY A CLEAR AND SUSTAINABLE BREAKOUT OF ONE OF THOSE LEVELS WOULD SHOW THE NEXT DIRECTION.
WEEKLY (W1)
In this regard, the upcoming weekly closing level, would also be important for further development in the weekly time frame as the weekly clouds bottom level, also coincides with the important and psychological 40'000 support level .
4 HOURS (H4)
The 4 hourly KIJUN-SEN, act perfectly well as resistance level so far (currently @ 40'816) and should still be seen as a good leading intraday indicator for further development.
The BTC is currently in this time frame, below bot MBB and KS , which should be seen as the first resistances levels to break before the Kijun-Sen, slightly higher.
1 HOUR (H1)
After having filled the 50% Fib ret @ 41'334, in reaching yesterday, an intraday high @ 41'557, the BTC failed to maintain its upside bias and went down in falling, again, below the hourly clouds and below the MBB , which is currently under upside breakout attempt.
The HOURLY CLOUDS AREA (40'415-40'936) remains the zone to watch at very carefully as short term resistance zone and on the downside, monitor the former double bottom lows slightly above the 39'000 area.
IRONMAN8848 - Jean-Pierre Burki
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