BTC - D1 - SECOND CLOSING BELOW MID BOLLINGER BAND !
D1 : For the second consecutive session, D1 closing has been below the Mid Bollinger Band.
Indeed, yesterday's price action, despite a new upside of MBB attempt, finally triggered
a "doji" pattern = uncertainty and indecision.
Watch ongoing price action and keep an eye on the 50% Fibonacci retracement @ 52401
as the next important support level.
Important to note the "fragility" of the 54000-50000 trading zone and we may see a "mirror
effect" of the price action seen on 8th and 9th March.
As already mentioned the psychological level of 50000 coincides roughly with the 61.8% Fibonacci
retracement @ 50187 of the 43021-61781 rally.
Last but not least the D1 clouds support zone is also around 50000...
Watch also carefully price action on shorter time frames, H4,H1 and M15
Have a nice trading day
All the best and take care
Ironman8848
Indeed, yesterday's price action, despite a new upside of MBB attempt, finally triggered
a "doji" pattern = uncertainty and indecision.
Watch ongoing price action and keep an eye on the 50% Fibonacci retracement @ 52401
as the next important support level.
Important to note the "fragility" of the 54000-50000 trading zone and we may see a "mirror
effect" of the price action seen on 8th and 9th March.
As already mentioned the psychological level of 50000 coincides roughly with the 61.8% Fibonacci
retracement @ 50187 of the 43021-61781 rally.
Last but not least the D1 clouds support zone is also around 50000...
Watch also carefully price action on shorter time frames, H4,H1 and M15
Have a nice trading day
All the best and take care
Ironman8848
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.