BTC - M15 - DOJI PATTERN BELOW 54'000 !
Updated
M15 : The breakout of 54'000 triggered a doji pattern, same price action than the one
seen yesterday's afternoon!
Once again, ongoing recovery attempt should still be seen as a CORRECTIVE
MOVE ONLY on a broad bear trend.
From 53661 we are currently in a M15 downtrend, below the clouds, the Kijun Sen, the Mid Bollinger Band and the Tenkan !
Therefore, ongoing price action has also been triggered by bullish divergences which should push the BTC on the upside with a relatively
upside potential.
Indeed, as shown on this chart, you see that Fib ret(54355 /54795 / 55152), coincides roughly with the indicators above mentioned and should be seen as the
next resistances levels in that time frame.
Interesting again to note that the clouds resistance coincides roughly with respectively the 61.8% Fib ret and the 78.6% @ 56015
CONCLUSION :
IN ORDER TO NEUTRALISE THIS CURRENT BEARISH PRICE ACTION, BTC NEEDS TO RECOVER ABOVE THE MID BOLLINGER FIRST
WHICH SHOULD BE CONFIRMED BY A SUSTAINABLE BREAKOUT OF THE CLOUDS.
A POTENTIAL DOUBLE BOTTOM IS IN PROGRESS, BUT WOULD ONLY BE CONFIRMED BY A BREAKOUT OF THE TRIGGER LEVEL WHICH IS THE FORMER HIGH @ 56663
H1 : Also below the clouds and all important indicators ! (update will follow after H1 closing)
H4 : In a downtrend since the peak of 57633 (update will follow after H4 closing)
D1 : Yesterday's closing just above the base of the uptrend channel; today's ongoing price action is showing clouds support under attack
(confirmation will be given on D1 closing this evening !)
W1 : Ongoing bearish price action...
seen yesterday's afternoon!
Once again, ongoing recovery attempt should still be seen as a CORRECTIVE
MOVE ONLY on a broad bear trend.
From 53661 we are currently in a M15 downtrend, below the clouds, the Kijun Sen, the Mid Bollinger Band and the Tenkan !
Therefore, ongoing price action has also been triggered by bullish divergences which should push the BTC on the upside with a relatively
upside potential.
Indeed, as shown on this chart, you see that Fib ret(54355 /54795 / 55152), coincides roughly with the indicators above mentioned and should be seen as the
next resistances levels in that time frame.
Interesting again to note that the clouds resistance coincides roughly with respectively the 61.8% Fib ret and the 78.6% @ 56015
CONCLUSION :
IN ORDER TO NEUTRALISE THIS CURRENT BEARISH PRICE ACTION, BTC NEEDS TO RECOVER ABOVE THE MID BOLLINGER FIRST
WHICH SHOULD BE CONFIRMED BY A SUSTAINABLE BREAKOUT OF THE CLOUDS.
A POTENTIAL DOUBLE BOTTOM IS IN PROGRESS, BUT WOULD ONLY BE CONFIRMED BY A BREAKOUT OF THE TRIGGER LEVEL WHICH IS THE FORMER HIGH @ 56663
H1 : Also below the clouds and all important indicators ! (update will follow after H1 closing)
H4 : In a downtrend since the peak of 57633 (update will follow after H4 closing)
D1 : Yesterday's closing just above the base of the uptrend channel; today's ongoing price action is showing clouds support under attack
(confirmation will be given on D1 closing this evening !)
W1 : Ongoing bearish price action...
Note
The magic of Fibonacci....Note
One more doji...
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