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Midbollingerband

BTCUSD - D1/H4/H1 - WATCH MBB !Today we will look at different time frames and we will begin with the hourly chart, then the 4 hours and finally the Daily. 1 HOUR (H1) In this short term time frame we already can identify some minor bullish divergences which triggered this short term reversal which has already crossed over both the TS and KS, facing currently the Mid Bollinger Band which should be seen in this time frame as a good barometer for further development as a confirmation upside breakout of this level would open the door for the next resistance area which is the clouds resistance zone, currently between 48'000-49'700. On the downside, a failure to stay and hold(on H1 closing basis !) above 46'650 would be the first warning signal calling for a new downside move towards previous lows and ahead of the former congestion support bottom @ 45'500 Next hourly closing would give more clues.(bullish above MBB and bearish below !) 4 HOURS (H4) Last H4 closing level (@ 46'517) triggered a "DOJI" coupled with a bullish divergence which pushed the BTCUSD higher (in doing the last H4 white bullish candle) which closed a couple of minutes ago just below the Tenkan-Sen level. Therefore, as for H1, next H4 closing level would give more clues about validation or invalidation of what has been seen on H1 and will show the direction for further development. On the upside, next resistance to look at is the former sideways channel 47'300-48'100 (the latter level coincides roughly with the 23.6 % Fib ret @ 48'117). DAILY (D1) Still in its broad sideways 45'500-50'500 trading range with a potential signal of a recovery in progress which should be confirmed by a daily closing, at least above 48'500; indeed, such kind of recovery price action would neutralize the ongoing downside risk, which is still in place, for the time being. On the downside the bottom of the sideways channel previously mentioned should be seen as the last support zone before focusing again on the former low (42'000 area) reached on Dec 4th. WEEKLY (W1) Ongoing price action is showing a BTCUSD supported on one hand by the weekly clouds support zone which rejected three times on a row a downside breakout attempt and on the other hand rejected by the ongoing weekly downtrend line resistance. Next weekly closing will, "maybe" give more information for the future.. Have a nice day. Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTCUSD - D1/H4 - IN TROUBLE !Good morning, yesterday's long black candle, (after the shooting star, the day before !) activated my stop loss at 48'309. Indeed, the failure to hold above the former support zone (cluster of KS,TS and MBB, triggered an acceleration towards a low reached, so far at 47'300). Looking at this daily picture, I have to say that, currently the BTCUSD is in trouble ...and further downside should not be underestimated with focus on the triple bottom congestion zone around 45'500. In order to neutralise this ongoing downside move, the BTCUSD should recover at least above the Mid Bollinger Band (48'571) and even better above the Tenkan-Sen, currently @ 49'382. 4 HOURS (H4) Following the yesterday's sharp decline, the BTCUSD in that H4 time frame is currently below : 1) the Mid Bollinger Band 2) the Kijun-Sen 3) the Tenkan-Sen and last but not least : below the clouds too Price action seen on the three last candles is showing a sideways range with on the ongoing candle, showing currently a dark cloud cover (confirmation will be given with the ongoing H4 closing level), meaning that selling pressure persists. There is no bullish divergence detected yet and I would suggest to monitor carefully the ongoing price action which could trigger a double bottom formation, coupled with a potential bullish divergence (wait for confirmation !) Hourly (H1) Same observation than for H4, watch closely ongoing H1 closing price and upcoming trading hours price action which will give you more clues about further development. Looking briefly at the weekly picture, the last week bullish engulfing pattern is currently neutraliZed by a DARK CLOUD COVER in progress, which of course will be validated or invalidated on a weekly closing basis. WARNING !!! A weekly closing below 46'600 would trigger a BEARISH ENGULFING PATTERN!!!! Have a nice day Take care and all the best Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTCUSD -D1/H4 - CONSOLIDATION PHASE !DAILY (D1) After having nearly filled the 38.2% Fibonacci retracement @ 52'293 (yestedays'high at 52'098) the BTCUSD lost its momentum and went down, in a corrective move, to close on a daily basis @ 50'718; this price action triggered another shooting star, which warned of a potential downside move. Ongoing, today's price action confirmed this warning and as a result, the BTCUSD moved further down towards the cluster support level around 48'800. Once again the Mid Bollinger Band did perfectly its job in rejecting, for the time being the downside breakout attempt. An upside breakout of the KS @ 48'809 on a daily closing basis would give an additional support for this ongoing upside price action. On the downside, as long as the BTCUSD stays and hold above 48'500, the positive outlook remains valid. A daily closing below that point will have a negative impact and would open the door for lower levels towards former triple bottom congestion around 45'500. Stop loss remains @ 48'309 4 HOURS (H4) The corrective move went down towards an intraday low of 48'688, filling on its way the 50% Fibonacci retracement of the last 45'573-52'098 rally. In addition the H4 clouds support zone rejected the downside breakout too. Currently attempting to cross over the ongoing downtrend resistance line around 49'400. A successful breakout of that level on H4 closing level should be seen as a positive signal, calling for higher level. A failure to do it would put the focus again on the H4 clouds support area (currently between 49'170-48'500) 1 HOUR (H1) Currently below the clouds, MBB, KS and TS. Price action seen over the last couple of hours is showing a recovery in progress which will be, firstly, confirmed by a successful cross over of the TS (currently @ 49'703); looking above the next significant resistance area to look at is the H1 clouds zone (50'375-50'600) Monitor also the Chikou span which is also currently below the clouds and a recovery of this indicator, above the clouds would also add value for the expected upside recovery. For your information and for those who did not see yet, Ironman8848 is again among the top authors on Bitcoin.(click on the link below) www.tradingview.com Therefore, if you like my analysis and you find it valuable for your trading, please do not forget to like it and follow me as well. Many thanks in advance. Have a nice trading day and all the best. Kind regards Ironman8848 & Jean-Pierre Bürki
BITSTAMP:BTCUSDLong
by Ironman8848
5
BTCUSD-W1-BULLISH ENGULFING PATTERN !Multi time frames analysis from Weekly (W1) to Hourly (H1) : WEEKLY (W1) : Last week's price action triggered a BULLISH ENGULFING PATTERN with an it is very important its closing level @ 50'791 above the Kijun-Sen ! Such kind of movement should be seen as the first warning positive signal on a weekly basis observation. In order to confirm this weekly strategic trend reversal, the BTCUSD needs, this week, on a closing basis level, to break the ongoing downtrend line resistance which also coincides with the Mid Bollinger Band and slightly higher the former uptrend line support. RSI, currently just above 50 @ 50.51 My strategic technical target @ 58'674 (stop loss @ 48'309) is still valid with intermediate resistance, respectively @ 52'294 ahead of 55'484 (this latter being also the level of the Tenkan-Sen or conversion line. This week's closing level would give more clues on a strategic view for the future. DAILY (D1) Recent and current price action should be seen as a constructive move, being still on the top range of its sideways channel and above : 1) The former downtrend resistance line 2) The Mid Bollinger Band & the Tenkan-Sen 3) The Kijun-Sen Nevertheless, stil below the clouds resistance area with the Chikou Span below the clouds too. RSI, currently just above 50, @ 50.53 First significant support on a Daily closing basis is @ 49'800 ahead of 48'720 On the upside, resistances are those above mentioned in W1 which also roughly coincides with the clouds resistance zone. 4 HOURS (H4) As expected, and after having filled, yesterday the first Fibonacci retracement @ 49'461 (38.2% of 45'573-51'865), the BTCUSD recovered nicely and is currently above : 1) The clouds 2) The Kijun-Sen 3) The Tenkan-Sen 4) The Mid Bollinger Band On this time frame watch (on H4 closing basis) the 50'670-50'000 as the support area as a failure to hold above that level would reopen the door for lower levels, towards the H4 clouds support area. 1 HOUR (H1) BEAR TRAP occured yesterday after a wrong clouds breakout; indeed a double bottom coupled with a RSI bullish divergence neutralized this downside breakout and as a result pushed the BTCUSD higher towards the top of the clouds. Currently holding slightly above the clouds and "flirting" with the Tenkan-Sen... Above the MBB and the Kijun-Sen. In this H1 time frame watch the bottom of the clouds as a good indicator for short term tactical price action. Have a nice week and all the best. Take care. Do you like my analysis ? Does my analysis bring you additional value ? If your answer is YES, please do not forget to like it and also follow me if it is not already done yet. Any "constructive" comments are more than welcome :-) Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSDLong
by Ironman8848
2
BTCUSD-D1/H4- WATCH MBB AND KS !DAILY (D1) Yesterday's closing price action below the important Kijun-Sen or Base Line, currently @ 50'533 and also the top of the former sideways daily trading range (45500-50500) As mentioned yesterday, the Doji shooting star triggered on Dec 24th has been timidly confirmed by a small black candle with a daily closing @ 50'442. Nevertheless, so far, such kind of price action could still be seen as a "normal" consolidation corrective move with next important support zone around 48'670 (MBB & TS cluster). A failure to hold above this level would reopen the door for lower levels, towards the former lows (bottom of the sideways trading range). Keep stop loss @ 48'309 on a daily basis and on a strategic trading perspective strategy. 4 HOURS (H4) The failure, on one hand, to cross over and close above the Tenkan-Sen (in H4 closing basis) and on the other hand to hold above the Mid Bollinger Band triggered this expected corrective move which pushed the BTCUSD towards a low so far of 49'644 (providing additional buying opportunity) Currently traded around the important psychological 50'000 pivot level, next H4 closing level would give more clues about further development. Watch also new ongoing downtrend resistance line (currently around 50'700), in this time frame as a successful recovery above it would add further support, calling for higher levels 1 HOUR (H1) Currently, slightly below the H1 clouds support zone, attempting to reenter in the clouds; in addition, for the time being the Chikou-Sen or Lagging line is still in the clouds. Watch also carefully price action in this time frame as a failure to hold at least above the bottom of the clouds or better to recover above 50'400-50'600 would maintain a short term downside risk. Have a nice Sunday and all the best. Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSDLong
by Ironman8848
BTCUSD-D1-ON THE RAZOR'S EDGE !DAILY (D1) After a nice ongoing rally which pushed the BTCUSD towards a intraday high of 51'864, lack of followthrough pushed it down again to close (@ 50'841) just slightly above the pivot level I mentioned yesterday @ 50'608; yesterday's price action triggered a new "DOJI SHOOTING STAR" and more important at a level which should be seen as the razor's hedge for further development. Indeed, ongoing today's daily price action should give more clues for the upcoming trading session and this will mainly depends on the level of the closing price later on today. A failure to close above 50'608 should be seen as a warning signal calling for a consolidation move (fragile zone 50'500-48'700, the bottom of this zone being the TS or Conversion line and also the MBB) A daily closing above 50'608 would keep alive my strategic technical target of 58'674 mentioned in my previous analysis published yesterday. 4 HOURS (H4) Recent and current price action is showing a sideways price action and a failure to hold above KS which may trigger on short term further downside towards the psychological support level of 50'000 which is also in this time frame the cluster support of MBB and Kijun-Sen or Base Line.$ Last but not least the 50'000, also roughly coincides with the ongoing support trend line in this H4 time frame. 1 HOUR (H1) Currently below KS, MBB and TS; H1 clouds support between 50'500-49'800 CONCLUSION : Recent and current price action is showing a corrective & consolidation in short term perspective ! As usual monitor closely short term intraday time frames to get early signal of a validation or invalidation of the implications above mentioned. Merry Christmas and all the best take care and have fun. Ironman8848 & Jean-Pierre Bürki
BITSTAMP:BTCUSDLong
by Ironman8848
1
BTCUSD-D1-EN ROUTE FOR 58'674 !Good morning,Christmas is coming and.. a warning buy signal has been given by a first daily closing above the Kijun-Sen. As mentioned previously, a view reassessment of my expected bearish scenario took place and now the way is open for further upside and my strategic target is @ 58'674. Indeed, the before yesterday's, shooting star has been neutralised by a BULLISH ENGULFING PATTERN (long white candle) whith its opening level at the cluster support of MBB and TS and its closing level above KS or base line which should be seen as a positive signal; today's closing above 50'608 would give an added value to this new expected scenario. DAILY (D1 ) If you go long now at current level (around 51'000) or on dips, I would suggest to apply a Risk Reward ratio of 3:1, meaning putting a stop loss @ 48'309 and act accordingly in following the trade price action with a trailing stop method in order to protect potential profit. Once again the Mid Bollinger Band did its job perfectly, in rejecting, this time, the yesterday's downside breakout attempt sucsessfully, also supported and helped by the 4 hours clouds support area which hold perfectly well too. :-) So, in short term, we may see some consolidation which should be seen as a buying opportunity, calling for the following targets : R1 : 52'294 (38.2% Fib ret) R2 : 55'483 (50% Fib ret) R3 : 58'674 (daily clouds resistance area & 61.8% Fib ret) RSI crossed over 50 and is @ 50.81 4 HOURS (H4) Looking at this 4 hours time frame and after the price action seen at the yesterday's end of afternoon (long white bullish candle, from 48'700 to 51'400) it is likely to see some consolidation in a new strategic bullish trend reversal. Therefore, long exposure should be rebuilt from current level and on dips towards, 50'725-49'400 protected by a stop loss previously mentioned. Looking briefly at the weekly picture, we can see a BULLISH ENGULFING PATTERN IN PROGRESS and a weekly closing above 50'100 would confirm this formation and would open the door for higher levels towards 53'275 (MBB) ahead of 55'483 (TS and also 50% Fib ret of the 69'000-41'967 downside move)
BITSTAMP:BTCUSDLong
by Ironman8848
6
BTCUSD-D1/H4- SHOOTING STAR ON D1 !DAILY (D1) The Mid Bollinger Band seems to work as a "magical line", isnt'it ? Indeed, the price action seen over the last two days is showing two successive breakout attempts of this important resistance level (MBB) ! In addition, yesterday's price action triggered a "SHOOTING STAR" which should be seen as new warning signal , calling for a new downside move; this pattern should, of course be confirmed by today's price action as a failure : 1) to recover and close above the MBB 2) to close above 49'000 (in order to neutralise the ongoing downside move) would confirm that the recent tactical corrective recovery is over. Below, watch carefully TS & Conversion line, currently @ 47'539; a failure to hold on a daily closing basis above it would also be an additional negative signal calling for a retest of the former "triple bottom" around 45'500. Daily RSI, below 50 @ 42.88 On the upside, as previously mentioned, watch first MBB (very good barometer indicator - Bullish above and Bearish below) ahead of the Kijun-Sen & Base line @ 50'608. Only a clear breakout of that level would force me to a view reassessment of my expected strategic bearish scenario. 4 HOURS (H4) Despite an intraday high reached @ 49'600, the BTCUSD lost momentum and a wonderful "DOJI" marked the top and triggered a trend reversal; on its way down, the Tenkan-Sen has already be broken and the Mid Bollinger Band and the H4 clouds support zone are under attack. Clouds support zone, also coincides with respectively the 50 % Fib ret (@ 47'586 - middle of the clouds & Kijun-Sen) and the 61.8% (@47'110 - clouds bottom). Finally, in this H4 time frame the BTCUSD reentered again in its former ongoing downtrend channel !!! On the upside watch the TS (@48'825) which is the first significant level to look at on this H4 time frame and a recovery on H4 closing basis above that level would temporary neutralise this new ongoing downtrend move in progress. CONCLUSION : Monitor also very closely the price action on shorter intraday time frames (H1 to M15) which will allow to detect early signal (s) which will validate or invalidate the implication of the expected D1 and H4 scenarios above mentioned. Have a nice trading day and all the best. Take care and if you like my analysis, please do not forget : 1) to like it 2) to follow me Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
2
BTCUSD - H1/H4 - AT A CRITICAL LEVEL !Good morning to all of you :-) Today we are going to look at two main intraday time frames which are Hourly (H1 ) and 4 hours (H4) Indeed, in my last and previous analysis, I highlighted a potential double bottom formation in progress on H1 with its trigger level @ 47'450 which has been filled and broken with an intraday high, so far @ 47'750. HOURLY (H1) The lack of follow through and both ongoing H1 downtrend line resistance and also the former support trend line, clearly stopped and rejected the ongoing upside move; the lagging line, also, failed to upside breakout the clouds and as a result, the BTCUSD is currently traded around this important 47'450-47'500 area which is also, by the way the top of the H1 clouds resistance area. The RSI upside move has also been broken by the failure to hold above its uptrend line support, still above 50 @ 56.37 Watch the former resistance cluster which becomes now the FIRST SUPPORT area to look at (@47'300 -47'000) A failure to hold above that area would put directly the focus to the H1 clouds bottom zone around 46'300 ahead of former lows "double bottom" @ 45'478 On the upside a breakout of both the ongoing downtrend line resistaance first ahead of a confirmation of an breakout of the former support trend line would neutralise the ongoing dowNside move in that hourly time frame. 4 HOURS (H4) Still under the clouds resistance area which once more, so far, did perfectly its job, in rejecting an new upside breakout attempts. In addition, the price action triggered by a long white candle has been quickly aborted by the next black candle in making a reversal pattern (which should be confirmed by the ongoing H4 candle on a closing basis in the next hours !) Moreover, the ongoing uptrend support line (in green), is currently on its way to be tested with, slighlty below an important former resistance level which became now a new support level @ 46'795 A failure to stay and hold above this point would put the focus on lower levels, above mentioned in H1 On the upside, watch the clouds ahead of the ongoing downtrend line resistance as only a clear recovery and breakout above those points would force to a view reassessment of my expected ongoing bearish scenario. Today's daily and weekly closing levels would give more clues for the upcoming week. Daily and weekly closing level above 48'800 would be the first warning signal of potential trend reversal !!! Have a nice Sunday. Ironman8848 6 Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
4
BTCUSD - D1- ONGOING DOWNTREND CHANNELDAILY (D1) Ongoing downtrend stil in place caught in a 46'650-50'650 trading range. Below Tenkan-Sen, Kijun-Sen and Mid Bollinger Band. RSI below 50, @ 38.31 All ingredients are in for further downside in a STRATEGIC perspective, of course. Countertrend trading opportunities (long exposure) should, and I insist be very carefully monitored in applying a strict Risk Management approach which will depend on your investment time horizon. Risk Reward ratio should also be managed accordingly ! Do not forget, we are, STRATEGICALLY, in a SELL ON RALLY MODE and not on a BUY on dips yet. In order to neutralise the ongoing downside risk, the BTCUSD should recover and hold sustainably, on a daily closing basis, above 50'750 firstly which should be confirmed by an upside breakout of the Mid Bollinger Band @ 51'200 and only such kind of price action would force me to view reassessment of my expected bearish scenario calling for lower levels in case of a breakout of the bottom of the trading range above mentioned. 4 HOURS (H4) Currently below the clouds, MBB, KS and TS. Lagging line below the clouds too. Watch the clouds on the upside as resistance area and the former lows around 46'650 as a support zone in that time frame. Have a nice trading day. Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
2
BTCUSD-D1/H4 TIME FRAMESDAILY (D1) : On that time frame, the BTCUSD is moving in a broad sideways channel (46'650 - 50'500); nevertheless, pressure remains on the downside as current level is still : 1) below the Mid Bollinger Band 2) below the primary downtrend line resistance 3) below the Kijun-Sen Watch Tenkan-Sen (@48'500), roughly in the middle of the sideways channel above mentioned; this level should be seen and considered as a good barometer, opening respectively the door for the top of the bottom of the ongoing sideways trading range. Watch also price action on the Lagging line which is still far below the clouds, TS and KS... RSI below 50 , @ 39.63 ! On the upside, as long as the BTCUSD is not able to recover sustainably above the 50'000-50'500, the pressure will remains to the downside ! On the downside a failure to hold above the bottom (@ 46'650) of this ongoing sideways channel would then reopen the door for lower levels, calling at least for a retest of the 42'000 area, former low reached on December 4th. 4 HOURS (H4) : As you can see the clouds did, so far, perfectly "the job", in rejecting several upside breakout with success !!! Levels to watch are similar with those previously mentioned on D1 analysis and corroborate perfectly the implication of a breakout on one way or the other. On the upside, watch the clouds resistance area which if broken, would be the first signal of an upside move continuation, while on the downside the first significant support in this area is currently between 48275-47'870, ahead of 46'650, which is also the bottom of the sideways channel mentioned on the daily picture Finally, as usual, watch shorter intraday time frames which will help you to detect early signal (s) in allowing you to act accordingly. Do not forget to manage efficiently and protect your long tactical exposure as we are still in a SELL ON RALLY, strategically speaking and not yet on a buy on dips... Have a great trading day and all the best. Take care. Last but not least, if you like my analysis, firstly like it and secondly if you do not follow me yet, please add me on your following list. Many thanks in advance. Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
5
BTCUSD - H4 - WATCH THE CLOUDS !H4 Once again the clouds worked perfectly well in rejecting an upside attempt breakout which has been directly followed by a short term trend reversal. As already mentioned, any recovery seen over the last couple of sessions should only be seen as a TACTICAL CORRECTIVE MOVE in a broad bear trend which took place from ATH (@ 69'000) and which has been confirmed by the clouds breakout on a daily basis. From the ATH, we are, STRATEGICALLY speaking, not any more on a buy on dips but clearly on a SELL on rally. (LOWER HIGHS !!!) ONLY A CLEAR BREAKOUT ON A DAILY CLOSING BASIS OF THE ONGOING DOWNTREND LINE RESISTANCE & MID BOLLINGER BAND (currently around 52'700-53'000) WOULD FORCE TO A VIEW REASSESSMENT ON MY EXPECTED STRATEGIC BEARISH SCENARIO CALLING FOR LOWER LEVELS. In this H4 time frame, the 48'850-48'750 area should be seen as a KEY PIVOT SUPPORT LEVEL for further development ; indeed, this support zone coincides with both the Kijun-Sen or Base Line and the Mid Bollinger Band; MBB should be seen as a good barometer. On the upside, first significant resistance is the Tenkan-Sen (@ 49'600) then once again, the clouds resistance zone, currently between 50'000 and 50'650). As long as we stay below the latter level on a closing basis, the ongoing bearish pressure will remain. Of course, on a TACTICAL view, there are plenty of short term countertrend trading opportunities but... if taken, those long exposure, due to the high volatility, should be watched and monitored very closely in adopting a strict risk reward strategy and this depending on the choice of your time frame : 1. analyse the potential target 2. directly put in place a trailing stop losses strategy Therefore, I strongly suggest to monitor price action on multiple time frames, in starting from long term to very short term to have a global overview of the trend in different time frames and then to the opposite in beginning from the very short term time frames to the long term time frames to early detect signal (s). Last but not least, technical analysis is not an exact science, it is an art that can be compared to a painter in front of his painting, using several brushes and colors to refine the results of his work... Have a nice week and all the best. Take care Best regards Ironman8848 & Jean-Pierre Bürki
BITSTAMP:BTCUSD
by Ironman8848
BTCUSD - D1 - WATCH THE CLOUDS & MBB !DAILY : Currently in a broad bear trend channel, roughly in the middle of the clouds and trying to hold above on a daily basis above the Tenkan-Sen or Conversion line @ 56'463. BTCUSD remains under selling pressure and for the time being we saw, over the last couple of sessions, successive failures to recover, firstly above the Mid Bollinger Band, which, as already mentioned several times, should be seen as a good barometer which will help you to jauge the temperature... (Bullish above and bearish below !) RSI below 50, @ 45.10 In addition, the clouds should also be watch at very carefully; indeed, only a clear sustainable upside breakout of the top of the clouds (around 61'000 & Kijun-Sen), on a daily closing basis would neutralise the ongoing downside risk , calling for lower levels, firstly towards the bottom of the clouds, currently around 53'000. This level should also be seen as the first significant support area, already tested successively three times last week... A failure to stay and hold above 53'000 would put the focus on the former uptrend support line (in green) currently around the psychological level of 50'000. Last but not least, do not forget, that the double top formation has been validated by the breakout of its trigger level @ 57'500 and the technical target of this formation is @ 46'000. H4 : Yesterday's rally towards an intraday high of 59'105 has once again been short lived... the reversal has been triggered by a long black candle (bearish engulfing pattern) which pushed the BTCUSD lower towards the H4 clouds support area. Please note that the Kijun-Sen, currently in the middle of the clouds @ 56'280 hold, for the time being and should be seen as an important support level on this time frame. Levels to watch on H4 are the following : downside : 56'000 upside : 57'300 / 57'500 RSI @ 49.98 H1 : Currently below the clouds, RSI below 50 @ 47.27 Watch the clouds resistance area around 57'500 which corroborate my view on H4 and D1 above mentioned. MBB is slightly below the clouds and Kijun-Sen in the middle of the clouds. If you like my analysis and you find it valuable for your trading strategies, please do not forget to like it and for those who do not follow me yet, please also add Ironman8848 on your following list. Many thanks in advance. Have a nice trading day Kind regards Ironman8848
GEMINI:BTCUSD
by Ironman8848
1
BTCUSD - D1 - KEY PIVOT LEVEL @ 57'500DAILY PICTURE : 57'500 which is the double top trigger level should still be seen as a KEY PIVOT LEVE L for further development. In addition, slightly below this level we can see the Tenkan-Sen or Conversion line, currently 57'368. As already mentioned, a daily closing below both levels mentioned would add further selling pressure and put the focus to lower levels towards the daily clouds bottom, currently around 53'300, which also coincides with the former uptrend support line (in green !) Price action over the coming hours should be monitor very closely and as already mentioned several times, shorter time frames will give you early signal (s) such bullish divergence which would trigger short term reversal, in a first time, in a corrective move and if confirmed in longer time frames may become a strategic trend reversal... RSI indicator still below 50 ! Globally in this time frame and in order to neutralise the ongoing downside move, the BTCUSD should recover, firstly above the daily clouds which should be confirmed by an upside breakout of the ongoing downtrend line resistance (in red) INTRADAY PICTURE : 4 HOURS In an ongoing downtrend channel, currently in its middle level, caugh between the Kijun-Sen on the upside and the Tenkan-Sen & Mid Bollinger Band on the downside. Watch breakout of one of those points. 1 HOUR : Upside breakout attempt failed; for the time being it hold above the Kijun-Sen and the MBB. On the upside, watch the top of the clouds and the KS as levels to break while on the downside a failure to hold above the H1 clouds bottom would put the focus for lower level towards former low around 56'000 first and then lower. Have a nice trading day. All the best and take care. Ironman8848
GEMINI:BTCUSD
by Ironman8848
BTCUSD - D1 - REMAINS UNDER PRESSURE !Last daily closing level @ 56'353 which means below the double top trigger level @ 57'500; this should be seen as the first warning validation signal of this double top formation, calling for a technical target @ 46'000. Once again the clouds worked perfectly well as you can see on this daily chart in rejecting, yesterday, an upside breakout attempt @ 59'580 which coincides exactly with the top of the clouds resistance... "magical fact",,, isnt'it ? No, it is not a "magical fact", it is the powerful value of Ichimoku :-), trust me ! So what next ? No change in my view, recent and current price action should still be seen as a CORRECTIVE MOVE ONLY and not as a trend reversal yet !!! Indeed, as already mentioned, in order to neutralise this ongoing bearish price action (on a daily basis analysis !), the BTCUSD should recover and hold at least above the psychological 60'000 level which is also by the way the level of Tenkan-Sen or Conversion line (@ 60'050). ONLY A SUSTAINABLE MOVE ABOVE 60'000 WOULD FORCE TO A VIEW REASSESSMENT OF MY BEARISH VIEW; THIS SHOULD BE CONFIRM BY A BREAKOUT OF THE ONGOING DOWNTREND LINE RESISTANCE LEVEL, WHICH IS CURRENTLY AROUND 62'000 (MBB being @ 61'800) On the downside, bottom of the clouds (@ 53'200) and also, currently the former uptrend support line should be seen as the first significant support level area ahead of the psychological 50'000 level. RSI @ 39.02 INTRADAY PICTURE : H4 : In an ongoing downtrend channel, below MBB, TS and KS and last but not least, below the clouds ! RSI converging to the downside and below 50, @ 39.48 H1 : Same than H4, in an ongoing downtrend channel and below the cluster above mentioned. Watch potential RSI bullish divergence (potential short term double bottom around recent intraday low) which may trigger some small recovery and might be used, having in mind a tactical long exposure countertrend which should be monitor and protect with trailing stop losses accordingly !!! Have a nice trading day and all the best. Take care Ironman8848
GEMINI:BTCUSD
by Ironman8848
2
BTCUSD - D1 - RED ZONE (62'700 - 65'500) !DAILY PICTURE : Yesterday's closing below the Tenkan-Sen,(currently @ 64'560) and which should be seen as the first important level to look at very carefully. Indeed, a failure, to close, later on today above this point would put the focus on the next significant support level, @ 62'700, already mentioned in my previous analysis (see related idea below) and which is also the bottom of the "RED ZONE". A daily closing above 64'560 would open the door for the top of the "RED ZONE @ 65'500 4 HOURS PICTURE : Once again clouds support zone worked perfectly well in rejecting several time downside breakout attempts. Therefore, I strongly suggest to continue to monitor very closely ongoing price action in order to validate an exit, either on the upside or on the downside of the clouds area ! It is not surprising at all, that, respectively the bottom of the clouds coincides roughly with the cluster of TS and MBB while on the upside, slightly above the top of the clouds you will find the KS resistance !!! WEEKLY PICTURE Weekly closing level tonight will also be important for further development; indeed, a second potential "shooting" star is in progress on this weekly chart. Looking broadly on this weekly time frame, the trend is still pointing to the NORTH; main support being around the 54'000 level (uptrend support line and TS) CONCLUSION : Monitor closely price action, in starting from very short term time frames (15-30 MIN) to get intermediate signal (s) which should be validated by longer time frames !!! Have a nice Sunday. Take care and all the best Ironman8848
GEMINI:BTCUSD
by Ironman8848
1
BTCUSD - D1/H4 - WHY I REMAIN BEARISH ?A lot of my followers asked me recently... why I was so bearish ? I will try to "justify" my bearish view in looking today, at the daily and at the 4 hours time frames, which, for me, both of them are quite representative of the recent and current price action which is likely to trigger further downside move towards the 60'000 at least if some important support levels were to be broken on a daily closing basis !!! DAILY Under the pressure of a RSI bearish divergence confirmed a couple days ago which is also showing a double top formation in progress, which is for the time being, of course, still quite far away of its trigger level @ 56'425 ! In addition, the global picture is also showing a rising wedge pattern in progress, with its support line, which also coincides with the important D1 cluster level (currently @ 62'700). Last daily closing level was below TS & conversion line and should be seen as the first warning signal for further downside which would be confirmed by ongoing closing level below TS or better below the pivot support level @ 62'700. Confirmation of the rising wedge downside breakout (@ 62'700) would give a technical target of 52'000 which is also currently the daily clouds bottom support level !!! 4 HOURS The double top target (@ 63'000) has already been filled in this time frame; it has been followed by a pullback attempt which has been, so far, rejected by all three major resistances !!! Currently under pressure, slightly below the H4 clouds support zone. RSI below 50 Failure to quickly recover above MBB (currently @ 64'945) should open the door for former recent bottom @ 62'300 and then 61'700 (very minor uptrend line support level) ahead of the psychological 60'000 level or even potentially lower. CONCLUSION : D1 : Levels to watch, on a daily closing basis, are the following : R1 : 64'550 S1 : 62'700 A daily close either above or below one of the level above mentioned should trigger a roughly 4'500 points. Have a great weekend and may your long goes up and your short goes down Do you like my analysis ? If yes, please do not forget : 1) to like it 2) to add Ironman8848 on your following list that will be great :-) Many thanks in advance. All the best and take care. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
4
BTCUSD - H4 - H & S IN PROGRESS !This time the clouds did not hold ... An Head and Shoulder formation is in progress and if this is confirmed, the technical target would be @ 51'436. Therefore, price action over the coming hours will be, once again, very important to look at carefully. Indeed, only a clear recovery above the clouds (around 63'000, already mentioned in my previous analysis !) would neutralise this ongoing bearish mode. Intermediate support levels @ 56'525, 53'292 ahead of the 61.8% Fib ret @ 50'058 ( 39'590-66994 rally) RSI is again below 50. Looking briefly at the daily picture, after having failed to upside breakout the Tenkan-Sen, we can see a "BEARISH ENGULFING PATTERN" triggered yesterday and in this time frame, in order, also to stabilise and neutralise, the ongoing downside risk, we need to see a daily closing above 61'700 which would, at least, trigger a piercing line ! On the downside, a daily closing below the Mid Bollinger Band (currently @ 59'000) would put an additionnal selling pressure and would open the door for the levels previously mentioned. Interesting to note that the 53'292-50'058 coincides with the daily support clouds area. On shorter time frame (H1), we are currently seeing a "corrective* recovery, having in focus 61'330, 61791 ahead of 62'253, the latter coinciding roughly with the secondary downtrend line resistance in this H1 time frame. should we go higher then the 63'000, as previously mentioned would be the pivot level to look at very carefully. Have a nice trading day. Take care Ironman8848
GEMINI:BTCUSD
by Ironman8848
1
SOLUSD - TRIANGLE - TARGET 217.85Here is my first technical analysis on Solana vs USD. :-) As you can see on this daily chart, there is a triangle formation which is in progress to upside breakout; this, of course should be confirmed on a daily closing basis ! Looking at shorter time frames, after the recent sharp upside move towards an intraday high so far @ 189.8250 reached earlier today, it is more than likely to see some profit taking (ongoing process) and this should be seen as a good buying opportunity at lower levels. First level to watch will be $ 176.00 ahead of $ 171.50 , former H1 congestion zone. On a daily basis, dips towards the TS (currently @ 167) ahead of the daily support trend line @ 162 and also MBB @ 160 should be seen as a good strategic level to build long exposure) Have a nice day Kind regards Ironman8848
FTX:SOLUSDLong
by Ironman8848
1
US 10 YEARS -W1/D1 - DB TARGET @ 1.6500WEEKLY : Double bottom (@1.1270) gives a technical target @ 1.65 %; it has nearly been filled with a high so far @ 1.6150 Interesting to note that current level coincides with the former congestion top seen early this year between April and May. Therefore, this 1.6000/1.6500 area may this time trigger the second top and should be watch at very carefully ! DAILY : The upside breakout of the triangle pattern around 1.3900 which also coincided roughly with the daily top clouds triggered an upside acceleration with a small consolidation. Note the RSI which is currently in a bearish divergence mode (wait for confirmation) As long as the US 10 Y stays and hold above TS, it is fine for further upside towards former March high @ 1.774 (50 % Fib ret @ 1.8060) ... but a failure to do it, would directly put the focus on the next support level around 1.35/1.45 former resistance area which becomes now the new support zone. As usual, watch an monitor closely price action on shorter intraday time frames to get intermediate clues for the upcoming trading sessions. Have a nice week All the best Ironman8848
TVC:US10Y
by Ironman8848
BTCUSD - H4 - MBB = LEADING INDICATOR !The Mid Bollinger Band (MBB) worked perfectly well so far in rejecting all downside breakout attempts !!! Therefore, as long as this support level (currently @ 54'595) hold, it should be seen as a supportive signal, calling for this ongoing upside move. Watch also technical indicators (such as RSI) which has already triggered, so far, only a minor BEARISH DIVERGENCE; nevertheless, a failure to switch from a divergence mode to a convergence mode would be an additional warning signal, which could trigger a renewal selling pressure calling for lower level. UPSIDE : Watch former intraday high @ 56'168 (potential double top !), ahead of the ongoing uptrend channel projection levels. DOWNSIDE : Monitor closely 54'595 as the first significant support level ahead of 53'298 (KS) and also, currently the bottom support line of the ongoing H4 uptrend channel
BITSTAMP:BTCUSD
by Ironman8848
GOLD FUTURES - D1/H4 - CONSOLIDATIONDAILY : Currently attempting to recover above the clouds in a consolidation mode. Indeed, as long as Gold stays and hold on a daily closing basis above $ 1'720,00 it should still be seen as a consolidation phase in a broad sideways triangle price action. In order to neutralise the downside risk, Gold should break and hold sustainably above the $ 1'840.00 area and this on a daily closing basis. Such kind of price action would then open the door for a retest of the former high at around $ 1'920 ahead of $ 1'960 and higher 4 HOURS (H4) Currently above the clouds but still below the "cluster" ! Clouds support very thin = very fragile in case of heavy selling pressure. Looks like, for the time being, a sideways consolidation price action. Watch carefully upcoming price action as a failure to hold and stay above the clouds would directly put the focus to the former lows $1'740-$1'730 Ironman8848
COMEX:GC1!
by Ironman8848