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Donwtrendchannel

BTC - H1/M15 - TRADING IN THE ZONE - AT A GLANCEH1 : Below the clouds and last H1 closing below the uptrend line support Low seen so far @ 54428 Global picture still looks negative as for the time being any upside move should be seen as a corrective move only in a short term bear trend calling for lower levels and a retest of former lows around 53500/53000 A move above the junction of both former uptrend line support and the new downtrend line resistance (cluster around 55600) would neutralise the ongoing downside risk M15 : Currently in a new short term downtrend channel with resistance (top of the channel currently also around 55600 which coincides with the cluster above mentioned in H1. For the time being, it looks like a SELL on rally and not yet a BUY on dips. Have fun Take care
BITSTAMP:BTCUSD
by Ironman8848
BTCUSD - H4 - BREAKOUT ATTEMPT OF THE DOWNTREND CHANNEL TOP...H4 : Last candle closed slightly up, above the top of the downtrend channel line and also above Mid Bollinger Band (46091). Nevertheless, this breakout, for the time being looks very fragile and we need to wait the next H4 closing for confirmation. Indeed, an upside breakout confirmation would then open the door for 47550 which is the level of Kijun-Sen in H4. On the opposite, a failure to hold above the top of the downtrend channel, would, again put the focus on lower level with Tenkan-Sen as a first support (45298). Global picture remains heavy as we are still under the clouds. Watch H1 for clues
BITSTAMP:BTCUSD
by Ironman8848
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