BTCUSD - D1 - STILL UNDER THE MID BOLLINGER BAND !
D1 : Still in a broad bearish channel and below the Mid Bollinger Band.
Yesterday's price action triggered a doji ("hanging man" or "dragonfly", confirmation
will be given on D1 closing) !
Globally, as long as BTC does not breakout the downdrend channel first and does
not move and hold above MBB and Kijun-Sen (Base line), price action seen over the last couple of sessions
remains a corrective move in a bear trend.
As told several times, ONLY a CLEAR breakout confirmation of the "CLUSTER" three levels above mentioned,
would force to a view reassessment of the current scenario which potentially may change from
bearish to bullish.
On the downside, watch Tenkan-Sen (Conversion line) @ 47836, as the first significant support.
In the meantime watch shorter time frames to get intermediate clues for ongoing price action
Have a nice Sunday and have fun.
All the best and take care
Yesterday's price action triggered a doji ("hanging man" or "dragonfly", confirmation
will be given on D1 closing) !
Globally, as long as BTC does not breakout the downdrend channel first and does
not move and hold above MBB and Kijun-Sen (Base line), price action seen over the last couple of sessions
remains a corrective move in a bear trend.
As told several times, ONLY a CLEAR breakout confirmation of the "CLUSTER" three levels above mentioned,
would force to a view reassessment of the current scenario which potentially may change from
bearish to bullish.
On the downside, watch Tenkan-Sen (Conversion line) @ 47836, as the first significant support.
In the meantime watch shorter time frames to get intermediate clues for ongoing price action
Have a nice Sunday and have fun.
All the best and take care
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.