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Dojishootingstar

BTC - D1 - YESTERDAY'S PA TRIGGERED A DOJI SHOOTING STAR !D1 : Yesterday's price action confirmed the ongoing bearish mode in making a "Doji shooting star" pattern ! More important is the fact that the intraday recovery failed to move above Kijun-Sen @ 34867 and also MBB @ 35655 Therefore, it is an additional trading session which confirm a downtrend still intact on D1 time frame Moreover, today's price action is currently below the countertrend line support and a failure to recover above it on a closing basis today, would add further selling pressure. My bearish view remains, still having a SELL on rally strategic view and not yet a BUY, except for short term traders who would like to play intraday volatility with tight stop losses in place. Strategic targets remains the psychological level of 30'000 ahead of the 38.2% Fibonacci retracement of the big move 3850-42'000. On the upside only a clear breakout of 34900 Kijun-Sen confirmed by a second breakout of MBB would force to a reassessment view of my expected bearish scenario.
BITSTAMP:BTCUSDShort
by Ironman8848
H4 - WARNING - DOJI SHOOTING STAR !!!H4 : Over the last 4 hours, price action triggered a "doji shooting star" which is already the first signal of a potential trend reversal Therefore the next H4 period will be very important to look at. Indeed, a closing price below the closing of the former doji shooting sta$ would confirm this bearish pattern, calling for further downside (watch H1 for intermediate clues) The doji shooting star candlestick is considered one of the most reliable candlestick pattern !!! One of the reasons for this is the unique structure - a opening a closing at the same level with a high upper candlewick !!! In case of confirmation, be ready to fasten your seat belt.
BITSTAMP:BTCUSD
by Ironman8848