BitcoinShort
BTC - D1/H4 - - TACTICAL UPTREND SUPPORT LINE BROKEN !
D1 : Yesterday's closing failure to breakout the strategic uptrend line resistance triggered
a tactical reversal which went down towards a intraday low early this morning @ 45915.
In its way down, the Tactical support 1 has been broken
LEVELS TO WATCH CAREFULLY ON A DAILY CLOSING BASIS :
RESISTANCE : former tactical support 1 becomes the new first resistance area
SUPPORT ZONE : 46133/45915 (potential triple top formation)
Breakout either on the upside or on the downside will give the direction for the upcoming
trading sessions.
H4 : On this time frame, failure to clearly break on a closing basis the 49000 area triggered uncertainty
and indecision and finally the BEARS won the battle ! As a result, the breakout on its way down of
the MBB triggered an acceleration which pushed further down towards 45915 so far.
Indicators are all pointing to the downside !
LEVELS TO WATCH CAREFULLY ON H4 CLOSING BASIS :
RESISTANCES : 47679 / 47814
A recovery above those levels would neutralise the ongoing downside risk
SUPPORT : FORMER TACTICAL DOWNTREND (46575) AHEAD OF FORMER LOWS 46133/45915
A breakout of that support zone would put the BTC in a very fragile zone with the
next significant support @ 44380 which is also the top of the H4 clouds support zone.
Have a nice Monday trading :-)
a tactical reversal which went down towards a intraday low early this morning @ 45915.
In its way down, the Tactical support 1 has been broken
LEVELS TO WATCH CAREFULLY ON A DAILY CLOSING BASIS :
RESISTANCE : former tactical support 1 becomes the new first resistance area
SUPPORT ZONE : 46133/45915 (potential triple top formation)
Breakout either on the upside or on the downside will give the direction for the upcoming
trading sessions.
H4 : On this time frame, failure to clearly break on a closing basis the 49000 area triggered uncertainty
and indecision and finally the BEARS won the battle ! As a result, the breakout on its way down of
the MBB triggered an acceleration which pushed further down towards 45915 so far.
Indicators are all pointing to the downside !
LEVELS TO WATCH CAREFULLY ON H4 CLOSING BASIS :
RESISTANCES : 47679 / 47814
A recovery above those levels would neutralise the ongoing downside risk
SUPPORT : FORMER TACTICAL DOWNTREND (46575) AHEAD OF FORMER LOWS 46133/45915
A breakout of that support zone would put the BTC in a very fragile zone with the
next significant support @ 44380 which is also the top of the H4 clouds support zone.
Have a nice Monday trading :-)
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