BTC -D1/H4 - WATCH MID BOLLINGER BAND AS LEADING INDICATOR !
Updated
D1 : Strong upside move towards an intraday high of 52652 seen yesterday with a closing
level slightly above MBB.
Today's price action is currently below the psychological level of 50000.
Once again, today's closing will be important for the coming session (s)
H4 : Failure to hold above the clouds resistance, triggered a new selling pressure, pushing the BTC
down again, towards, so far, the middle of the clouds, which is also MBB on this time frame !
Therefore, MBB (@ 49000) should be seen as the first support ahead of KS (@ 47836) and slightly
lower, the clouds bottom zone
Global picture in H4 could be resume as follow :
UPSIDE PIVOT ZONE : 50000 - 52650
DOWNSIDE PIVOT ZONE : 45300 - 43000
Watch carefully H1 and M15 for intermediate clues
level slightly above MBB.
Today's price action is currently below the psychological level of 50000.
Once again, today's closing will be important for the coming session (s)
H4 : Failure to hold above the clouds resistance, triggered a new selling pressure, pushing the BTC
down again, towards, so far, the middle of the clouds, which is also MBB on this time frame !
Therefore, MBB (@ 49000) should be seen as the first support ahead of KS (@ 47836) and slightly
lower, the clouds bottom zone
Global picture in H4 could be resume as follow :
UPSIDE PIVOT ZONE : 50000 - 52650
DOWNSIDE PIVOT ZONE : 45300 - 43000
Watch carefully H1 and M15 for intermediate clues
Note
D1 : Bearish engulfing pattern in progress and watch KS support @ 47883 ! Wait D1 closing, later on for confirmation !H4 : Ongoing expected bearish price action occurred over the last couple of hours, switching from an uptrend channel, with a failure to breakout the clouds resistance area, to a downtrend channel !
Watch KS @ 47836, ahead of clouds area support.
A breakout of the clouds support zone would put the focus on the expected downside pivot zone mentioned this morning (45300 - 43000)
On the upside, first resistance lo look at is the upside line of the downtrend channel ahead of MBB currently @ 49335
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