BTC - H1 - NEXT CLOSING LEVEL WOULD SHOW THE DIRECTION...
H1 : Indeed, ongoing H1 price action and especially closing level would be interesting for the upcoming periods...
As you can see, an upside clouds breakout is in progress, coupled with the level of the downtrend line resistance (in red)
In addition, a rising wedge formation is also in progress and a failure to stay within this pattern would be a first warning
of o potential tactical reversal with new supports being respectively, the bottom of the clouds ahead of the "barometer" MBB,
currently @ 47809.
As long as we stay above 47629 (KS) it is OK on this time frame.
Watch shorter time frame for intermediates clues.
As you can see, an upside clouds breakout is in progress, coupled with the level of the downtrend line resistance (in red)
In addition, a rising wedge formation is also in progress and a failure to stay within this pattern would be a first warning
of o potential tactical reversal with new supports being respectively, the bottom of the clouds ahead of the "barometer" MBB,
currently @ 47809.
As long as we stay above 47629 (KS) it is OK on this time frame.
Watch shorter time frame for intermediates clues.
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