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Shorttermreversal

ETH - MULTI TIME FRAMES - AT A GLANCE - WARNING !M1 : Ongoing bearish price action W1 : Last week closing level above MBB triggered a corrective move recovery towards a high so far of 2750. Still below the weekly pivot level @ 2950 and Tenkan Sen @ 3025 D1 : Yesterday's price action triggered a bullish engulfing pattern which breakout the clouds on the upside...BUT IT DID NOT BREAKOUT THE TENKAN-SEN YET !! Watch today's closing level as a failure to move and stay above 2650 would confirm a top in place in this D1 time frame. On the downside, the former clouds resistance (2175-2425) becomes now the new support area to watch at. H4 : Still in an ongoing downtrend price action. Recent recovery is still corrective and countertrend. Facing now a tough resistance area to break (see the thickness of the clouds !!). Watch clouds on the upside and cluster (KS,MBB and TS) on the downside to get clues. H1 : Short term reversal in progress, 2 successive black candles which broke the former support trend line. Watch MBB as first support, then 2410, below 2360, 2240 ahead of 2118, the last level being also the H1 clouds support zone. M30 : Watch the clouds and the former uptrend support line which becomes now the new resistance to break M15: Currently testing the top of the clouds. A failure to hold above the clouds would confirm the ongoing trend reversal in progress. M5 : Clouds broken, followed by a pullback attempt which failed to recover above the clouds. Watch cluster (TS, MBB and KS) ahead of the clouds resistance. CONCLUSION : RECENT PRICE ACTION FROM THE LOW SEEN YESTERDAY @ 1728.74 IS A CORRECTIVE MOVE ONLY ND A FAILURE TO CLOSE ON A DAILY BASIS ABOVE 2372 WOULD CONFIRM A TOP IN PLACE, CALLING FOR LOWER LEVELS !
by Ironman8848
5
BTC - H1 - BREAKOUT OF 55'000 TRIGGERED A SHARP MOVE !H1 : Against my expectation, sorry guys,,, the BTC clearly broke the top of the H1 clouds @ 55'000 an went up in one way towards a high so far of 57'443. Nevertheless, I told you that a sustainable move above 55'000 would force a view reassessment !!! So what next ? D1 : Clouds top breakout in progress and Mid Bollinger Band too. (should be confirmed on a D1 closing later on today !) A daily closing above 56'500 would be seen as a BULLISH signal H4 : Breakout out the clouds and the Mid Bollinger Band triggered a sharp upside move filling on its way the 50 % Fib ret of the 64895-47004 downside move. R1 : 58'060 S1 : 54'700 H1 : After this sharp rally, first signal of a short term reversal is taking place ! On the downside : first significant support @ 55750 On the upside : former high @ 57'443 M15 : Looks like a top is in progress but there is no bearish divergence yet Watch carefully price action over the coming H15 and H1 periods to get validation or invalidation of a top in place. Have a nice evening. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
1
BTC - H1/M15 - TRADING IN THE ZONE - AT A GLANCEH1 : Caught in a sideways range (52630 – 54400) and still above MBB (53673). A failure to stay and hold above MBB would open the door for the 23.6 % fib ret @ 52658 ahead of 51’577. On the upside, a breakout of the former high @ 54’405 would be the first signal of a switch from a short term sideways (neutral) price action to a bullish one ! M15 : An Head and Shoulder pattern is in progress. For the time being, BTC is still above the clouds which once again worked perfectly well in rejecting, yesterday’s evening a downside breakout attempt around the 52630 level which was roughly, also the 23.6% Fib ret above mentioned. CONCLUSION : M15 : Watch carefully Mid Bollinger Band and the clouds as short term leading indicators H1 : Watch 53’060 as the first support
BITSTAMP:BTCUSD
by Ironman8848