Ironman8848

Ironman8848

DAILY 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...

Ironman8848

As expected, yesterday's small recovery has been short lived !!! Indeed, RSI bearish divergence on H1, triggered a corrective move only, pushing up the BTCUSD towards an intraday high of 57'882, missing to breakout the clouds resistance area on this time frame... (magical clouds :-)...) In addition, recent price action triggered an other bearish signal : the...

Ironman8848

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...

Ironman8848

DAILY : DOUBLE TOP IN PROGRESS STILL ALIVE As mentioned in my previous analysis (see related ideas below), the recovery which took place recently was only a corrective move in a broad new bear trend which started @ ATH 69'000. Indeed, the ongoing double top formation is still intact and a daily closing below its trigger level (@ 57'500) would be the first...

Ironman8848 Updated 

Following my previous analysis, just published a couple minutes ago, I will go more in depth on shorter time frame and I am going to explain the price action expected in this 1 hour time frame. As you can see on the RSI indicator, a bullish divergence took place and it has been done on the long candle (hammer) and also around the TS; such kind of price action...

Ironman8848

As expected the ongoing downside selling pressure, firstly broke the double top trigger level (@ 57'500) and more important close below it. This breakout triggered an acceleration which pushed the BTCUSD sharply down towards an intraday low so far of 53'760, close to the bottom of the clouds support which once again worked perfectly well as an important level to...

Ironman8848

DAILY : The Daily picture is clearly showing a double top formation in progress, its trigger level being @ 57'500; a breakout confirmed of this point would activate this bearish formation in opening the door for a technical target @ 46'000. Global picture is not very encouraging at all; indeed, the BTCUSD, is currently in an ongoing downtrend; meaning in a...

Ironman8848

As expected and mentioned in my previous analysis the failure to hold above the psychological support level of 60'000, triggered a downside acceleration which pushed the BTCUSD towards a low so far of 58'573; my first technical target of 57'765 has not been reached yet... So what next ? Well, it is likely to see further downside in the cards ! Indeed, looking...

Ironman8848

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...

Ironman8848

Triangle progress on the daily chart. BREAKOUT LEVELS : (Daily closing !) 4'732 4'600 IMPLICATIONS : ( + / - 400 POINTS) UPSIDE : TARGET 5'132 DOWNSIDE : TARGET 4'200 Watch intraday to get intermediate clues and signal (s) confirmation of ongoing price action. H4, currently in the clouds ! Ironman8848

Ironman8848

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...

Ironman8848

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...

Ironman8848

THE 61.8% Fibonacci retracement @ 0.727790 has been filled overnight; currently in recovery progress, daily clouds support zone has also be tested. Looks like a good buying opportunity (around 0.7290-0.7305) calling for a recovery towards the cluster of TS, KS ahead of MBB (0.7403 -0.7443) Watch ongoing support trend line (in red) and put a stop loss below in case...

Ironman8848

Would it be a "goodbye" or a "goodbuy", that is the question ? We should get the answer quite soon :-) Indeed, looking at the weekly picture, a double top formation is in progress and the price action seen over the last three weeks (following the rally from 40'000 towards 63'000) is showing some lack of momentum, uncertainty and indecision, confirmed by a...

Ironman8848

DAILY : 50 % Fibonacci retracement @ 0.00004689 has been filled. Currently traded around an important key pivot level @ 0.00004890 (MBB) !!! Indeed, a failure to stay and hold on a daily closing observation above this level would be the first warning signal, calling for further downside. Next significant support level being @ 0.00003702 WEEKLY : Dark...

Ironman8848

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 @...

Ironman8848

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...

Ironman8848

Good morning to all of you :-) I hope you are well ? Today, I decided to just show you an heat map of the BTCUSD (4 hourS time frame). The picture is pretty clear and the chart speaks for itself ! What do you think ? Any comments are welcome :-) Have a great Sunday and take care All the best Ironman8848 PS : If you like my analysis, please do not forget to...