BTC - H1/M15 - CLOUDS, CLOUDS AND CLOUDS...
H1 : Currently above the clouds support zone and also above the downtrend line resistance.
Nevertheless, indicators looks tired, 3 successive dojis patterns and after having nearly reached the 78.6% Fib ret @ 55741,
it is likely to see a trend reversal.
Watch Mid Bollinger Band as the first significant support as a failure to hold above it, would give
the first signal of an upcoming downside move calling for a move towards the 53000/52000 area,
being the clouds support area.
On the upside, watch former high and 55750 as first minor resistance area; above focus will be on former
high @ 57207
M15: Switched from an uptrend channel to a sideways-slightly downside new channel and currently
testing the clouds support area and also the middle level of this new downtrend channel.
An exit, on the downside, of the former uptrend channel, currently around the 54000 would confirm
further downside.
Nevertheless, indicators looks tired, 3 successive dojis patterns and after having nearly reached the 78.6% Fib ret @ 55741,
it is likely to see a trend reversal.
Watch Mid Bollinger Band as the first significant support as a failure to hold above it, would give
the first signal of an upcoming downside move calling for a move towards the 53000/52000 area,
being the clouds support area.
On the upside, watch former high and 55750 as first minor resistance area; above focus will be on former
high @ 57207
M15: Switched from an uptrend channel to a sideways-slightly downside new channel and currently
testing the clouds support area and also the middle level of this new downtrend channel.
An exit, on the downside, of the former uptrend channel, currently around the 54000 would confirm
further downside.
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