BTC - INTRADAY - WATCH THE CLOUDS...
H1 : Clouds remain a good indicator as shown on H1.
Indeed, each downside clouds breakouts attempts has
been rejected by the clouds which worked perfectly
well as support area.
Therefore, continue to watch at very carefully the clouds
support zone (58600-58250) which also coincides with
the ongoing support trend line (in blue)
A failure to hold above, firstly the Mid Bollinger Band (59178) and secondly, the clouds would directly put the focus
on the former low @ 56713 ahead of the 55000 area (former congestion support zone)
On the other side, if BTC clearly break the psychological level of 60000 in holding
above it, that would open the door for a retest of previous high @ 61781.
H1 technical indicators are showing some "signs of fatigue" and it is likely to see
a downside move in the coming hours.
M15 : Curently in the middle of a broad wedge formation.
Wait and watch for an exit of this formation, as a breakout on one or the other side
will give a good indication for a new trading range.
Have a good day
Indeed, each downside clouds breakouts attempts has
been rejected by the clouds which worked perfectly
well as support area.
Therefore, continue to watch at very carefully the clouds
support zone (58600-58250) which also coincides with
the ongoing support trend line (in blue)
A failure to hold above, firstly the Mid Bollinger Band (59178) and secondly, the clouds would directly put the focus
on the former low @ 56713 ahead of the 55000 area (former congestion support zone)
On the other side, if BTC clearly break the psychological level of 60000 in holding
above it, that would open the door for a retest of previous high @ 61781.
H1 technical indicators are showing some "signs of fatigue" and it is likely to see
a downside move in the coming hours.
M15 : Curently in the middle of a broad wedge formation.
Wait and watch for an exit of this formation, as a breakout on one or the other side
will give a good indication for a new trading range.
Have a good day
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