BTC H4 - FORMER UPTREND LINE SUPPORT & CLOUDS HOLD
H4 : As both KS and former support trend line hold, it triggered an ongoing new recovery attempt in progress.
It is not a surprise to see that the pivot point is at the same level than the one seen in D1 (see my previous post)
Indeed, first Fibo ret is @ 35060 and TS @ 35305
Therefore, in order to maintain the current upside biais, it is crucial to see a breakout confirmation of the 2 levels
previously mentioned and more important to stay and hold above it.
H1 : Support clouds hold and currently above TS ! On H1 time frame, a move above MBB, currently @ 34600 would be the first step
to open the door for higher level ahead of 35060 and 35305.
Bearish scenario ; A failure to hold above TS and H1 clouds support zone should trigger another wave of selling pressure, targeting
the 32000 (yesterday's intraday low) ahead of the 29000 area, intraday low of Jan 27th
For very short term price action, i would suggest to screen carefully H15 and H5 to get early signals for appropriate trading action
It is not a surprise to see that the pivot point is at the same level than the one seen in D1 (see my previous post)
Indeed, first Fibo ret is @ 35060 and TS @ 35305
Therefore, in order to maintain the current upside biais, it is crucial to see a breakout confirmation of the 2 levels
previously mentioned and more important to stay and hold above it.
H1 : Support clouds hold and currently above TS ! On H1 time frame, a move above MBB, currently @ 34600 would be the first step
to open the door for higher level ahead of 35060 and 35305.
Bearish scenario ; A failure to hold above TS and H1 clouds support zone should trigger another wave of selling pressure, targeting
the 32000 (yesterday's intraday low) ahead of the 29000 area, intraday low of Jan 27th
For very short term price action, i would suggest to screen carefully H15 and H5 to get early signals for appropriate trading action
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