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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 - 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
BTCUSD -D1 - IN A CHANNEL...The breakout and the last D1 closing level above the 50'000 psychological level, accelerated the upside move towards a high so far of 51'915. Currently in a new uptrend channel with its first resistance around 52'000 (former yesterday's high) ahead of former of Sept 6ht @ 52'956. On the downside the former resistance of 50'000 became now the new support to look at very carefully. Indeed, as you can see on this D1 chart, this level coincides exactly with the middle of the long black candle (Sept 7th) and also, roughly to the previous top of Aug 23rd; therefore, this 50'000 should really be seen as a PIVOT LEVEL and a failure to stay and hold above it would put the focus on the 48'000 zone, which is currently the top of the clouds, ahead of the support trend line of the channel, currently around 46'330-45'430 , also cluster TS, KS and MBB ! Last, but not least, a potential double top @ 52'956 could be triggered and can not be totally ruled out (watch indicators to detect bearish divergences !!) As always, monitor also shorter intraday time frames. All the best Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTC - D1 - POTENTIAL BULL TRAP ?Today, we are going to look carefully at the recent and current price action on the Daily chart. Indeed, after having, yesterday, nearly filled the technical target of the triangle pattern @ 49'421 with an intraday high @ 49'225, the BTC lost the momentum to clearly confirm the clouds breakout as you can see, for the time being, on the D1 chart ! In addition, as already mentioned yesterday, there is a potential double top in progress with the first top between Sept 15th and Sept 19th and the potential second top, currently in progress. IMPORTANT TO NOTE THAT THE SECOND TOP AREA COINCIDES EXACTLY WITH THE CLOUDS TOP RESISTANCE !!! A failure to clearly break this 48'500 level on a daily closing basis would put again the BTC under pressure and looking below 47'000 it looks very fragile towards 46'000 (former resistance level which became new support area) ahead of 45'000 MBB/TS cluster. ON THE UPSIDE, the psychological 50'000 will be the next significant resistance level to break in order to get out of this ongoing uncertainty and indecision for further development. As already mentioned, watch carefully at all intraday time frames, in order to detect early signal (s) as divergences which would allow to act accordingly If you like my analysis, do not forget to support with a like and follow :-) Thanks in advance. Have a nice week. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTC - H4 - PULLBACK ATTEMPT !Today we are going to look at three time frames : Firstly the 4 hours where the base of the triangle is currently under attack with an ongoing pullback attempt Secondly, the hourly to see if there is & are potential reversal signal (s) Thirdly, the daily picture to have a global overview of what is going on Let's go to the 4 HOURS CHART : Currently, after having briefly reached an intraday low of 41'982 (so far !), below the triangle support trend line, the BTC is attempting to recover with a pullback which should, of course, be confirmed over the coming hours ! A failure to quickly recover within the triangle pattern and above the cluster (@ 42'870/42'930) would confirm further downside in the cards. TRIANGLE BREAKOUT GIVES A TECHNICAL TARGET @ 36'732 ( - 13.19 % or - 5586 pts) Intermediate supports @ 40'800 (former double bottom) ahead of 39'573 former intraday low of Sept 21st Last but not least, as a gentle remember, the 61.8 % Fibonacci retracement is @ 37'903 and should also be seen, as an important support level to consider Should BTC recover sharply and breakout the upside of the triangle, the technical target would be 49'686 ! (unlikely for the time being) HOURLY: As for H4, currently in an upside corrective move, currently facing the bottom of the clouds resistance and TS too ! Interesting to note that the top of the clouds, also coincides with the cluster of KS and MBB, around 43000/43100 which roughly corroborate the resistance area above mentioned on H4 ! So watch the clouds and monitor closely price action over the coming hours which will help you to get validation or invalidation of the triangle implication previously explained. DAILY : Global picture remains heavy ! Currently traded below the downtrend line resistance and below KS, MBB and TS. For the time being still in the clouds which is showing a sideways price action and could be seen, in this time frame as NEUTRAL ! LEVELS TO WATCH ON D1 ARE THE FOLLOWING : Upside : 45'000 Downside : 40'000 Have a nice trading day. All the best and take care. 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 does not follow me yet, also please add me on your following list. All the best Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
1
BTCUSD - H4 - TRIANGLE IN PROGRESS ! IMPLICATIONS ?Good morning, today we are looking at the 4 hours time frame which is showing a triangle formation in progress. As mentioned in my previous analysis, the 44'200 level should be considered as an important resistance area, which, for the time being has not been broken on a H4 closing basis yet. Indeed, this pivot level should not be underestimated as it is also : 1) the top of the H4 clouds resistance area; 2) the potential breakout level of the triangle formation in progress; 3) the 50% Fibonacci retracement of the 48834-39573 downside move. In addition, RSI indicator is also in progress to breakout the 50 level. A next H4 closing level above 44'200 would be the first warning signal, calling for further upside ! Triangle breakout, on one or on the other side, would imply, a move of 5'586 points, targeting respectively 49'786 (psychological 50'000 level) on the upside and 36440 on the downside (roughly the weekly clouds bottom level So, watch carefully price action over the coming hours, in looking at the shorter time frames in order to detect early signal (s) which would validate or invalidate the potential triangle breakout above mentioned. On the downside, a sustainable move below 43'500 (see H1 chart) should also be seen as the first warning signal for further downside, targeting 42'600 ahead of 41'950, currently the level of the triangle support trend line. CONCLUSION : WATCH THE CLOUDS ! Have a nice day All the best and take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTCUSD - D1 - WATCH THE CLOUDS !Good morning, today we are going to look at the daily picture again. Indeed, as you clearly can see on this chart, the bottom of the clouds in this time frame, worked, once again perfectly well in rejecting the breakout attempt with an intraday low, below the clouds @ 39573. BTCUSD is currently traded at, I would say a key pivot level on the daily picture; indeed the 41'800/42'000 area, should be seen, on a daily closing basis as an important level for further development. This area (41'800) coincides with the middle level of the 3rd black candle which has been triggered by yesterday's price action with a closing level within the clouds @ 40'596. A failure to recover, hold and close above the 42'000 would add further selling pressure in the cards in opening the door for lower levels, targeting first the clouds breakout ahead of 37'904 (61.8% Fibonacci retracement of the 28'600-2956 rally. A successful recovery would put the focus on the 44'000 area, being both former minor and fragile uptrend line support (in green) and also KS. Very important to note that, strategically speaking we are currently in a broad bearish trend and any recovery should only be seen as a corrective move for the time being. ONLY A CLEAR BREAKOUT OF THE ONGOING DOWNTREND LINE RESISTANCE, WHICH ALSO COINCIDES ROUGHLY WITH THE TOP OF THE DAILY CLOUDS WOULD FORCE TO A VIEW REASSESSMENT OF MY BEARISH VIEW That's why, any long tactical exposure (countertrend) should be closely monitored and managed with tight trailing stop losses !!! Good luck and have a nice day All the best and take care Last but not least, please do not hesitate to like my idea if you find my analysis valuable for you. Many thanks in advance. Kind regards. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
2
BTCUSD - H4/H1 - INDECISIONGood morning, today we are going to look at the H4 and H1 time frames which are both showing some growing uncertainty about further development. Indeed, I mentioned in my previous analysis to look carefully at the 48'000 as a barometer indicator and looking at recent and current price action we can note, so far, some lack of momentum to clearly confirm a breakout of the level above mentioned. In addition, on H4, a RSI bearish divergence has already been triggered which pushed, slighlty down the BTC towards KS and clouds support zone which hold for the time being. Please note that the recent low (47613) also, coincides with the new minor support trend line (in green on H4) So, on H4 : on the downside , watch carefully the cluster support area (47'947-47'768) as a failure to hold above this zone would open the door for the clouds zone with its bottom line currently around 46'000 ! on the upside , watch former high 48834 and check RSI which will validate (convergence) or invalide (divergence) further upside !!! and on H1 : watch the cluster (48'000-48'225) on a closing basis ! failure to close above 48'225 and hold in a sustainable manner, would put some short term selling pressure, opening the door first for the very thin cloud support area (fragile !!!) On the upside watch for a potential upside breakout of the ongoing slightly uptrend channel. Have a nice Sunday and all the best. Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTCUSD - D1 - WATCH CLUSTER @ 47'900 !Good morning, today we are going to look at the daily picture which yesterday, on a closing basis, triggered a bullish engulfing pattern. Indeed, as mentioned in my previous analysis (see related ideas below) I highlighted, the importance of the clouds support zone on this D1 time frame and you can see the confirmation on the chart. Clouds once again worked perfectly well, this time as a support zone which triggered this recovery seen yesterday. So what next ? Despite this nice yesterday's move, BTCUSD remains under the influence of this long bearish black candle of Sept 7th with a very strong resistance area (cluster around 47'900 which should be clearly broken on a daily closing). As long as this cluster is not broken, the pressure remains on the downside, we are currently facing a minor resistance which was the former congestion bottom seen over a couple days at the end of August. IMPLICATIONS : 1) On the upside, a sustainable move above the cluster of 47'900 should be seen as a first warning signal which would neutralise the ongoing downside risk and open the door first for the psychological 50'000 level ahead of former high @ 52'956 2) On the downside, a failure to stay and hold above 46'000 on a closing basis would trigger a dark cloud clover and put the focus once again on the daily top clouds support area, currently @ 45'000 CONCLUSION : Watch shorter time frames : On H4, currently trying to breakout the clouds resistance area and on H1 there is a bearish divergence which has been confirmed; on H1 watch at 46'900 ahead of 46'700 (MBB) of a warning confirmation for a reversal calling potentially for a return towards 46'250 and a failure to hold above this level would directly put the focus on the 45'000 area, daily target on the downside ! Have a great day and all the best Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTC - H4 - WATCH THE CLUSTER...H4 : Last candle closing @ 44'636 is the first warning signal which triggered, as expected and mentioned in my previous analysis published yesterday, a "shy" pullback, which should be watch at very carefully and which will be crucial for further development. Indeed, a failure to recover above the ongoing support trend line (green line) and watch also RSI which broke down as well, will confirm further downside in the cards, calling probably for a retest of former lows (44'125 ahead of 42'900) where situation should be reassessed ! (double bottom ?) On the upside, a recovery above the support trend line, would temporary neutralise the downside risk but as long as BTC stay below the H4 cluster (currently 45'508-45772), the selling pressure will remain. The MBB worked, once again, very well, breakouts attempts but...not confirmed ! A breakout of the cluster resistance area would then put the focus on the next key pivot resistance area...which is once again the H4 clouds zone (46'900-48'000). Watch shorter time frames to detect early signal (s) which will validate or invalidate the two scenarios above mentioned. Have a nice day & week. All the best and take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTC - H4 - WATCH CLUSTER @ 45'800 !Good morning, today, we are going to look at the 4 hours time frame. Indeed, as you can see on this chart, the MBB worked perfectly well so far Therefore, I strongly suggest to look carefully at the cluster zone, currently around 45'800 (KJ and MBB) as for the time being, several upside breakouts attempts have been rejected by the Mid Bollinger Band which should be seen, once again as "THE LEADING INDICATOR" for further development. Price action seen over the last couple of hours is showing further downside in the cards and this will be confirmed by a clear breakout of the ongoing support trend line (green line) on a closing basis. A failure to stay above that line would accelerate the downside move (warning breakout, then pullback !!) towards the former low @ 44'125 ahead of Sept 7th low @ 42'900. A move towards the latter level would force to look at the next support zone, this time on a daily basis, and which is, once again, the clouds support zone, as mentioned in my previous analysis (see related ideas below). Have a nice Sunday, relax, take care and all the best Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
Bitcoin ichimoku is crazy BULLISH! 🐃Hi everyone, wish y'all have a profitable lifestyle. 🕊 📍I am a big fan and believer in ichi-moku and its crazt TIPS which in my point of view works the best. 📍Last week we have seen crazy movements from Bitcoin's chart which surprised everyone including myself. 📍 I saw Laggin-span going inside the komu-cloud which is an extremely bullish sign of the chart and then the price coming out of the Komu which also was a second very bullish sign. ⚠️ What we also have to consider a very important factor is the gap between the tenk and kijun lines; whenever they have a huge gap either the price has to go and fill the gap or the movement is so sharp that it may avoid it. 📍 What I personally think that is going yo happen is that the price may have a reversal movement approximately around the date given because since the komu's shifts are very important. 📍 The interesting factor is the void between the coming TPs that makes the movement even easier. THIS IS NOT A FINANCIAL ADVICE THESE ARE JUST MY PERSONAL THOUGHTS ABOUT THE CHART NOTHING MORE
Long
by C_EWAVE13
Two Possible Correction Paths After 3D Ichimoku TK CrossFirst we take the 1D Kijun line and add it to our 3D chart where we recently observed the TK cross to the downside. This will serve as a major level that we could revisit in the short term. Second we look for our long term support area. I see this being around 30k due to volume and the long/flat areas of the 3D Kijun and the 3D Cloud. Third we look for an alternate path if we were to continue to the downside in the short term rather than revisiting the 1D Kijun. This would probably be Senkou Span B which is the bottom of the 3D cloud. Ultimately, whichever route we take in the short term, should result in a continued consolidation within the 3D cloud before we breakout to the downside towards Long Term Support.
Short
by JoelRBishop