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BTC-DAILY-CLOUDS STILL IN RESISTANCE !WEEKLY (W1) Still in the weekly clouds roughly in the middle of it and still above the TENKAN-SEN (@ 39'400) which should be watch carefully on the next weekly closing level. Indeed, a failure to close above it would put the focus again to the bottom of the clouds around 37'600 (former congestion support on daily chart) DAILY (D1) Daily clouds still in resistance and the 40'800 area should be seen as a KEY PIVOT LEVEL for further development ! Indeed, a successful and sustainable breakout of that level (top of the daily clouds) would open the door for higher levels towards the former high @ 41'694 reached two days ago ahead of the 42'500 area (1 month top of the clouds !) and then towards the ongoing downtrend line resistance, currently around 44'200. A failure to do it, would directly put the focus to the CLUSTER SUPPORT ZONE 40'200-39'800 and a breakout of 39'800 on a daily closing basis would add further selling pressure calling for further downside towards the 37'600-37'000 former daily congestion support as already previously mentioned in W1. RSI slightly above 50, @ 52.56 LAGGING LINE in the clouds, currently testing the TS and KS support. 4 HOURS (H4) Above the clouds and currently traded around the Tenkan-Sen level (40'898) RSI @ 59.29 LAGGING LINE still in the clouds and above the Kijun-Sen In this 4 hours time frame, watch the clouds (39'880-39'232)on the downside as first significant support area and the former high @ 41'694 as the first resistance. A failure, on a 4 hours closing basis, to recover and hold above 40'898 would add further selling pressure for the upcoming trading hour (s). 1 HOUR (H1) Watch the clouds which worked perfectly well, so far as a good leading indicator in this short term time frame. A failure to hold above 39'900 (1 hour closing basis), would be seen as the first warning signal calling for further downside as previously mentioned in longer time frames. IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC-H4/H1- AT CRITICAL LEVELS !4 HOURS (H4) Above the 4 hours clouds, supported by the ongoing H4 uptrend support line and currently under the new downtrend resistance line. Watch : Upside : former high @ 44'785 Downside : ongoing support trend line (currently around 43'650 which is also the top of the 4 hours clouds. A breakout of one of those 2 levels will show further direction RSI showing some uncertainty and indecision around the ongoing downtrend line resistance too ! 1 hour (H1) Currently supported on very short term (H1) by the cluster of MBB, TS KS and TS) A failure to stay and hold on a hourly closing basis above this cluster (44'140-44'170) would be the first warning signal of a short term reversal move, calling for the reenter, firstly in the 4 hours clouds (in overlay on the 4 hours chart in green) ahead of the hourly clouds support area, below between 43'250 and 42'900 Looking briefly at the DAILY PRICE ACTION, we can see an attempt to breakout the clouds with a long white candle triggered yesterday, which for the time being is not confirming this yesterday's bullish price action. Watch today's closing level which should give more clues and validate or validate this long white bullish candle seen yesterday. A clear breakout of the DAILY CLOUDS (on a daily closing basis !) would be very positive for further development, opening the door for the upside towards higher levels. Have a nice trading day Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
2
BITCOIN Update >>> Sell on StrengthBTC/USDT on a Bearish Trend for days, now price form a secondary reaction to the Exponential Moving Average 21 and 34 from daily cluster with 0.618 Fibonacci Retracement, wait for reversal bar to entry or a reversal pattern, if there is no confirmation then no trade for this setup. Price Target at Fibonacci Retracement cluster with Fibonacci Expansion (1.272 and 100% or 1.618 and 127.2%). Regular Bearish divergence make it higher probability for Bitcoin to drop more. BITCOIN/USDT Signal SELL >>> 45i83.50 SL >>> 47636.00 TP >>> 36198.75 R/R Ratio 1 : 3.6 Win Rate 58% -Fibomic International- BINANCE:BTCUSD
Short
by jaysenxavero