Despite an intraday high reached yesterday @ 66'340, the BTCUSD failed to close above the top range of the "RED ZONE" @ 65'500 mentioned in my previous analysis !!! . Such kind of price action triggered, as expected, further downside selling pressure which pushed the BTCUSD towards a low so far of 60'406, very close to the psychological support level of...
WEEKLY (W1) Prior week a "SHOOTING STAR" had been triggered which has been followed, last week by a "DOJI" which is adding further pressure to the downside as an uncertainty and indecision is growing... So what next ? Well, in looking in this weekly picture, the first significant support level @ 58'100 has been tested with an intraweek low seen last week @...
Weekly (W1) After a RSI bearish divergence detected the week before, the last week price action triggered a "Bearish Engulfing pattern" which should be seen as a second warning signal calling for a trend reversal ! Indeed, looking back we can see 2 clear trends and in monitoring the ongoing uptrend we can easily see the failure to confir m an upside breakout of...
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 !)...
H4 : Once again the clouds acted perfectly well on both sid e, in rejecting, respectively a downside breakout attempt around 60'000 and more recently an upside breakout around 63'600. In addition, price action on the top of the clouds, triggered a "BEARISH ENGULFING" pattern. Ongoing downtrend channel still in place and clouds area should be seen as a...
D1 : Recent price action is showing a potential trend reversal in progress (below MBB) W1 : Dark cloud cover in progress (to be confirmed on a weekly closing basis) M1 : Dojipattern in progress which should also be confirmed on monthly closing on Friday Wa