BTCUSD broke the WLY KS yesterday, giving us a bearish signal. Today the price is testing this breakout and we will have to wait until close of the weekly candle to confirm the breakout.
In case of confirmation, than the next major level of support will be the MLY KS at around 36400.
Glossary :
WLY = Weekly | DLY = Daily | TS = Tenkan Sen | KS = Kijun Sen | LS = Lagging Span/Chikou Span
TL = Trend Line | TP = Take Profit | SL/INV = Stop Loss / Invalidation | TF = Timeframe
** THIS ANALYSIS IS MY OWN OPINION AND IS NOT A TRADING OR INVESTMENT ADVICE. ALWAYS TRADE WITH CARE **
In case of confirmation, than the next major level of support will be the MLY KS at around 36400.
Glossary :
WLY = Weekly | DLY = Daily | TS = Tenkan Sen | KS = Kijun Sen | LS = Lagging Span/Chikou Span
TL = Trend Line | TP = Take Profit | SL/INV = Stop Loss / Invalidation | TF = Timeframe
** THIS ANALYSIS IS MY OWN OPINION AND IS NOT A TRADING OR INVESTMENT ADVICE. ALWAYS TRADE WITH CARE **
Note
For the moment no confirmation and the price is still completely neutral. I've updated the chart below, showing a confluence of support levels that would need to be broken to allow the price to go lower.
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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.
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.