Short

BTC - D1 - DOUBLE TOP IN PROGRESS !!

Updated

Dark cloud cover in progress or potentially bearish engulfing pattern
Mid Bollinger band @ 17776
Bearish divergence in progress on RSI
Trigger level @ 16218
Technical target @ 12518
Has to be confirmed on closing D !

Note

Yesterday's price action confirmed a Dark cloud cover !
Yesterday^s intraday low reached the Tenkan-Sen line
Still above MBB which, for the time being acted perfectly well as support and pivot level
A closing below the MBB tonight will open the door for further downside !

Note

Yesterday's price action is showing a failure to confirm a piercing line pattern !
Pressure remains for further pressure to the downside
Sell rallies

Note

Yesterday's price action triggered a small white candle (body !) = indecision and uncertainty...

Note

Trend reversal in progress !
Yesterday's price action triggered a bearish engulfing pattern
Former uptrend support line broken
Both MBB and Tenkan-Sen lines should be seen as a good barometer for further development
Pivot zones to watch at carefully are : 18350-18175 on the downside and 19450-19700 on the upside on a daily basis closing !
A breakout of one of those areas would trigger a sharp accelaration move !

Note

Still in a corrective move towards the downtrend line resistance which for the time being has not been broken yet on a daily closing basis !

Ironman8848

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