Ironman8848

Ironman8848

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...

Ironman8848 Updated 

H1 : The ongoing downtrend I mentioned yesterday morning is still intact. In addition, for the time being, the clouds, once again, did "the job" ! After having attempt several times to get out of the downtrend channel base, the BTCUSD, a couple of hours ago recovered, from its low reached of 46'789 (so far !) towards the H1 clouds resistance,currently between...

Ironman8848

Last week price action triggered an "Harami" pattern, which is likely to trigger further sideways price action over the coming days ! Indeed, usually such kind of pattern, following a long black candle is normally bullish if the last candle is very small in comparison with the previous one, which is not the case now as the last weekly candle is pretty "big"...

Ironman8848

Quick update on the intraday one hour chart which is showing an ongoing downtrend channel ! Currently below the clouds (which are roughly around the 50'000 psychological level, below Kijun-Sen, still slightly below Mid Bollinger Band and slightly above Tenkan-Sen. Selling pressure remains heavy and in order to neutralise it (in this short term 1 hour time...

Ironman8848

Looking at the daily time frame a "potential" Head and Shoulders in progress has been identified ! Ironman8848 & Jean-Pierre Burki

Ironman8848

DAILY : For the third consecutive day, the BTCUSD closed, on a daily basis below the Tenkan-Sen (TS) or Conversion line ; such kind of price action should be seen as a additional warning signal of a ongoing bearish trend. More over the last two trading days, triggered a "DOJI" pattern which is also a sign of uncertainty and indecision ! The first support...

Ironman8848

DAILY : As mentioned in my previous analysis written 2 days ago, the expected recovery took place on a CORRECTIVE TACTICAL MOVE ONLY... and not as a strategic trend reversal yet !!! Indeed, so far the Tenkan-Sen, currently @ 50'608, worked well in rejecting its upside breakout and yesterday's price action, after having roughly reached an intraday of roughly...

Ironman8848

WEEKLY : Fifth consecutive black candle...The 61.8% Fib ret @ 0.00003702 has already been filled with an intraweek low @ 0.00002915 reached last week. Global picture does not smell good !!! Indeed on this time frame the pressure remains to the downside ! DAILY : In an ongoing downtrend move; below the clouds, the Kijun-Sen, the Mid Bollinger Band and the...

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WEEKLY : Still in its ongoing uptrend channel, last weekly closing above the Tenkan-Sen. Ongoing weekly candle is going down... Watch Mid Bollinger Band and bottom line of the uptrend channel as the first significant support level as a weekly closing below 3'700 would open the door for lower levels towards the Kijun-Sen, currently @ 3'285 DAILY : Currently...

Ironman8848

WEEKLY : Following its weekly closing @ 49'463, below the former uptrend support line, the BTCUSD began the week in the red again. DAILY : Indeed, last daily closing triggered a "DOJI" pattern which confirm growing uncertainty about further development and which looks like an increase of the selling pressure. RSI @ 31.38 H4 : Looking now at the 4 hours...

Ironman8848

Looking at the latest week price action we can see that this indice is currently potentially in big trouble !!! Indeed, if you go back towards the low reached in March 2020, you can see that each time, the selling pressure has been stopped by both the Mid Bollinger Band and the Kijun-Sen !! Magical isnt'it ? Not at all, it is the powerful Ichimoku approach...

Ironman8848

Last week price action triggered, as for the US 10 years, a long black candle which in this case also broke the weekly bottom clouds support level @ 1.85. The US 30 years is currently on an ongoing downtrend channel, very close to the 50 % Fibonacci retracement @ 1.6130 (0.71-2.5160); RSI below 50 @ 34.04. Watch closely price ongoing price action and monitor...

Ironman8848

Last week price action triggered a long black candle which broke on a weekly closis basis, both the Mid Bollinger Band and the Kijun-Sen or Base line. Such kind of price action should be seen as a negative (yield ) signal, calling for lower levels. In addition, the former uptrend support line which stated at the beginning of August @ 1.1270 has also been broken...

Ironman8848

H4 : As expected and mentioned in my previous analysis,(see related ideas the corrective recovery move went up so far towards a high of 49'762, nearly filling the 50% Fibonacci retracement (49'882) of the last downside move from 57673 towards 42'074. In addition as already said the psychological level of 50'000 has not been broken either and recent and current...

Ironman8848

Good morning to all of you. I hope you are well today ? My double top technical target, already mentioned a couple days ago, with a technical target @ 46'000 has easily been filled with an intraday low reached early this morning @ 42'074. So what next ? This sharp downside move has, and it is obvious, triggered a TACTICAL REVERSAL ONLY !!! Indeed, no...

Ironman8848

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...

Ironman8848

DAILY : The BTCUSD is not out of the woods yet; indeed, recent and current price action is still in the clouds currently traded around the important pivot level of 57'500 (double top trigger level !) Despite a recovery attempt seen yesterday which trigger an upside move towards an intraday high of 59'476 (rejected by the top clouds resistance...once again...

Ironman8848

Double top in progress on 30 minutes chart. Trigger level @ 57'000, if broken target @ 55'500 Watch closely ongoing price action in the next hour (s) Ironman8848