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BTC - D1 - TRIANGLE IN PROGRESS ! IMPLICATIONS : + / - 13'535 WARNING !!! On D1, A TRIANGLE PATTERN IS IN PROGRESS. A breakout confirmation would imply a move of +/- 13'535 with an expected downside breakout calling for a target of 21'270 !!! M1 : No change, ongoing bearish price action still alive W1 . Same thant M1; in addition, the "new" fragile uptrend line is under attack ! D1 : TRIANGLE PATTERN IN PROGRESS !!! TARGETS : On the upside : 51'885 On the downside : 21'270 (expected scenario !) Indeed, looking at the recent and current price action, it is likely to see a downside breakout attempt of this triangle pattern. H4 : Ongoing downtrend channel in progress, currently facing the clouds resistance area, below the cluster of TS, KS and MBB; Mid Bollinger band is currently @ 37200 which coincides also with the top level of the clouds. Therefore, this level is the first significant level to look at very carefully in this time frame. H1 : Recovery attempt seen from the low of 34'850, still below KS. M30 : RSI bullish divergence triggered this recovery attempt (facing currently clouds resistance area !) M15 : Same than M30 (attempt to upside breakout of the clouds) Watch carefully upcoming M15 period (s) which will validate or invalidate this upside breakout M5 : Currently above the clouds (potential double top formation in progress). Watch former high @ 36'273 and clouds support area as first indication level. A breakout of 35'850 would confirm this potential double top pattern in opening the door for 35'427 first ahead of former low of 34'850 CONCLUSION: REMAINS THE SAME ! RECENT AND CURRENT PRICE ACTION SHOULD STILL BE SEEN AS A CORRECTIVE TACTICAL MOVE ONLY IN A BROAD STRATEGIC BEAR TREND. AS ALREADY MENTIONED SEVERAL TIMES, ONLY A SUSTAINABLE MOVE ABOVE THE 40'000 AREA AHEAD OF 41'230 WEEKLY PIVOT LEVEL WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR A RETEST OF THE FORMER LOWS @ 34'850 , 34000, 33425 AHEAD OF THE PSYCHOLOGICAL LEVEL OF 30'000 AND POTENTIALLY LOWER TOWARDS 27'169 (61.8 % Fibonacci retracement of the 3'850-64'895 rally !) AND TOWARDS THE TECHNICAL TRIANGLE TARGET (IF CONFIRMED) @ 21'270
BITSTAMP:BTCUSD
by Ironman8848
7
BTC - 61.8 % FIB RET FILLED @ 37'863 ! WHAT NEXT ?M1 : No change, ongoing bearish price action still alive W1 : Recovery attempt, still below the weekly pivot level @ 42'230 D1 : Yesterday's closing price triggered a bearish engulfing pattern which is currently neutralized, today by a recovery attempt which may trigger a potential piercing line pattern, depending on today's closing level. In addition, there is a potential triangle breakout in progress and a closing today above both MBB, (currently @ 38'003) and top triangle downtrend line resistance (currently @ 38'075) would be the first signal for a temporary recovery confirmation. On the other side, a failure to close on a daily basis above TS (currently @ 36'457) would confirm further downside for the upcoming session (s) H4 : Yesterday's failure to hold above the secondary downtrend line triggered a nice move towards a low so far of 35'576; a nice recovery followed towards a high so far of 37'927 H1 : 61.8% Fibonacci retracement @ 37'863 has been filled with a high so far @ 37'927. In this time frame, a rising wedge formation is in progress and BTC is now facing the clouds resistance zone; a clouds breakout would open the door for an extension towards 38'485 (78.6% Fib ret and also currently the downtrend line resistance level) M30 : Above the clouds and also under the influence of this rising wedge pattern in progress ! M15 : Currently in a uptrend channel, above the cluster but still below the middle level of this channel M5 : RSI bearish divergence, triggered a very short term trend reversal, watch the cluster of MBB and KS ahead of the clouds support zone as a failure to hold above the thin clouds area would confirm a top in place. CONCLUSION: RECENT AND CURRENT PRICE ACTION SHOULD STILL BE SEEN AS A CORRECTIVE TACTICAL MOVE ONLY IN A BROAD STRATEGIC BEAR TREND. AS ALREADY MENTIONED SEVERAL TIMES, ONLY A SUSTAINABLE MOVE ABOVE THE 40'000 AREA AHEAD OF 41'230 WEEKLY PIVOT LEVEL WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR A RETEST OF THE FORMER LOWS @ 35'500 , 34000, 33425 AHEAD OF THE PSYCHOLOGICAL LEVEL OF 30'000 AND POTENTIALLY LOWER TOWARDS 27'169 (61.8 % Fibonacci retracement of the 3'850-64'895 rally !) Have a nice weekend. Have fun. All the best and take care. And last but not least, if you find my analysis valuable for you, please do not hesitate to like it, talk about Ironman8848 around you and for those who did not follow me yet, add me on your following list. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
5
BTC - MULTI TIME FRAMES - AT A GLANCEM1 : Ongoing bearish price action in progress. W1 : Last week failure to recover above the W1 pivot level @ 41'230 confirmed that the downtrend is still intact D1 : Despite yesterday's closing (39'220) which was above the important MBB level (38'900) I have mentioned in my last analysis (see related idea below), BTC did not managed to stay above that very important pivot level !! Ongoing candle is showing currently a long black candle in progress (bearish signal) which also invalidated, for the time being the upside breakout of a triangle formation: On Daily basis, closing level today will be very important to watch as a failure to quickly recover above 39'000/40'000 would confirm further downside for the upcoming session (s), which is my expected scenario, still calling for lower levels, as mentioned several times in the past ! H4 : Both primary and secondary downtrend are still intact after the yesterday's failure to confirm the breakout of the secondary downtrend line resistance; this reversal has been triggered by a long black candle (bearish engulfing) which is in progress to be confirmed(in a couple of minutes !)by a second long black candle. Finally, as you can see, the clouds support zone(currently 35950-36000) is very, very thin = very fragile which means that a downside attack will be very likely successful and will open the door for lower levels towards 35'500 first ahead of 34'700 congestion support zone. H1: Below the former uptrend support line, below the clouds and below the cluster of MBB, KS and TS. M30 : Same than H1 M15 : Same than M30 M5 : RSI bullish divergence triggered some recovery attempt; watch cluster as the first resistance area ahead of the clouds currently between 37000-37500. Only a sustainable recovery above that area would neutralise temporarily the ongoing downside risk in a short term perspective. Fib ret @ 37'396 (38.2%) - 37'745 (50%) - 38092 (61.8%) the latter level being, also the clouds resistance area on M15 chart ! CONCLUSION : GLOBAL PICTURE IS STILL SHOWING A BROAD BEAR TREND IN PROGRESS AND IN ORDER TO CONFIRM A TREND REVERSAL, BTC SHOULD RECOVER FIRST ABOVE THE PSYCHOLOGICAL LEVEL OF 40'000 WHICH SHOULD BE CONFIRMED BY A BREAKOUT OF THE 41'130 AREA WHICH IS THE WEEKLY PIVOT LEVEL !!!
BITSTAMP:BTCUSD
by Ironman8848
7
BTC - MULTI TIME FRAMES - AT A GLANCEM1 : Monthly closing in a couple of hours will most probably confirm a long black candle = very bearish ! W1 : Closing level of the last candle showed, the inability for the BTC, to recover sustainably in confirming what I TOLD you from roughly the 60'000 level (Doji pattern on Monthly chart), that BTC is not a buy on dips but a SELL ON RALLY !!! In order to neutralise this persisting downside risk, BTC should at least recover above KS which is currently @ 41'230. D1 : Ongoing downtrend price action still alive, failure to recover above both TS and secondary downtrend line is adding further support to my expected ongoing bearish scenario calling for lower levels and at least a retest of the former lows (33425, 31107 ahead of 30066) 61.8 % Fibonacci retracement (3850-64895) being @ 27'169 !!!) H4 : Failure to recover above 36'500 (former congestion top) and above KS and the clouds triggered a new selling pressure. Next support @ 33'425 and on the upside watch 36'500 H1 : Clouds worked perfectly well as THE RESISTANCE ZONE with the top of the clouds, coinciding roughly with the former congestion top at around 36'500 mentioned in H4. M30 : Below the clouds and below the cluster (TS, KS and MBB) M15 : Same than M30 with a bullish divergence which triggered a bullish engulfing pattern, Short term upside potential towards 35000, 35250 and 35500 , the latter level coinciding roughly with the clouds resistance in this time frame. M5 : Below the clouds which are currently in a 34'800-35200 CONCLUSION : Watch carefully price action on M5, M15 and M30 to detect validation or invalidation of a potential short term recovery which, as mentioned above, is expected to be pretty limited and still considered as a CORRECTIVE MOVE ONLY IN A BROAD BEAR TREND. Have a nice week, All the best, take care and have fun. Last but not least, if you find my analysis valuable for you, please do not forget to like it and for those who are not a follower, pls follow me Many thanks in advance. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
7
DOGE - TARGET OF 0.2900 REACHED (LOW 0.2800)M1 : Bearish engulfing pattern in progress (bearish if confirmed on M1 closing level !) W1 : Ongoing bearish price action in progress. Next significant support level to watch is the W1 uptrend support line, currently @ 0.2450-0.2500 D1 : Downtrend resistance line under recovery attack, Watch carefully today's closing level ! H4 : Double top target filled. The H4 support trend line, for the time being, hold, rejecting the downside breakout attempt 3 times so far. Currently, just above TS but still below MBB and KS and last but not least, still below the clouds which as you can see, rejected all upside breakouts attempts ! H1 : Warning potential double top (0.3073) in progress. Trigger level @ 0.2862. Watch very closely, price action over the coming hour (s) which will validate or invalidate this potential reversa formation calling if trigger level activated, for a move towards 0.2651 !!! M30 : Currently attempting to hold above the clouds ! M15 : Above the clouds and above the very short term uptrend support line. Watch 0.3073 on the upside and 0.3000 on the downside as levels indicators for further development. M5 : same than M15, as a failure to hold above the psychological 0.3000 level would confirm a top in place and call for a reversal targeting the double top trigger level @ 0.2862 CONCLUSION : RECENT AND CURRENT PRICE ACTION SHOULD STILL BE SEEN AS A CORRECTIVE MOVE IN A BROAD BEAR TREND AND ANY LONG POSITION SHOULD BE PROTECTED WITH A TIGHT TRAILING STOP LOSS. Ironman8848
BITFINEX:DOGEUSD
by Ironman8848
7
ETH - 61.8 % FIBONACCI FILLED @ 2180...M1 : Ongoing bearish long term price action in progress !! W1 : Still above MBB but already below KS, W1 closing will be also very important to watch at D1 : In a ongoing downtrend channel and below the clouds... H4 : Clouds has so far, worked perfectly well in rejecting all upside breakouts of the clouds. Currently below the cluster and the clouds too. H1 : Low seen @ 2'180 which is the 61.8% Fib ret of the 1729 -2910 rally. Currently attempting to upside breakout the MBB with slightly above KS which if broken would neutralise slightly the ongoing downside risk. M30 : RSI bullish divergence triggered a recovery ! Above the cluster but still below the clouds resistance; expectation for a very short term recovery which looks pretty limited for the time being towards the 2400 area. M15 : Clouds breakout in progress, wait for M15 closing level to validate this potential breakout and wait at least another closing level above the clouds (warning of a bull trap !) M5 : In a ongoing very short term uptrend, above the clouds and the clusters.. CONCLUSION : GLOBAL PICTURE REMAINS BEARISH !!! THE TREND IS YOUR FRIEND. ETH REMAINS A SELL ON RALLY ON STRATEGIC VIEW. ANY LONG EXPOSURE SHOULD BE PROTECTED WITH A TIGHT TRAILING STOP LOSS Have a nice Sunday. Have fun, take care All the best Ironman8848
by Ironman8848
2
BTC - TARGET OPF 33'320 JUST MISSED (LOW 33'425...)Sorry guys, we just missed my target of 33'320 for roughly one hundred points... M1 : Long black candle still in progress predicting a very bearish closing level if the BTC does not managed to recover significantly, which is not expected ! W1 : Primary downtrend is clear; in addition, this week price action is confirming the BTC inability to maintain any recovery attempt (ongoing candle showing currently a doji pattern) ! Moreover, BTC is under KS which so far worked perfectly well as the first significant level to break...W1 closing will be important to watch. D1 : Far away below the clouds, below the cluster of KS, MBB and TS. Triangle formation in progress, Watch breakout (expected on the downside !) H4: Below the clouds and the cluster. H1 : Low seen 33'425, very close of my expected target of 33'320 (see previous analysis link below).RSI bullish divergence, triggered some corrective recovery. A sustainable move above 35'400 would neutralise, for the time being the ongoing downside risk but above there is the most significant clouds resistance area to break, which is currently projected between 35'800-37400. M30 : Currently close to the clouds resistance area. Watch the clouds ! M15 : Currently attempting to breakout the clouds resistance area. Watch very closely price action in the upoming M15 period (s) which will validate or invalidate this upside clouds potential breakout. M5 : Clouds have been broken 2 hours ago (important to note the clouds thickness at the breakout level = very thin = very fragile !) In this time frame, a RSI bearish divergence already took place and a failure to recover above 35'000 would call for further downside. CONCLUSION : NO CHANGE IN MY VIEW, I STILL MAINTAIN MY EXPECTED BEARISH SCENARIO IN SEEING ANY RECOVERY ATTEMPT AS A CORRECTIVE MOVE ONLY AND NOT AS A STRATEGIC TREND REVERSAL YET. SELL ON RALLY ! A SUSTAINABLE MOVE ABOVE 40'000 WOULD FORCE TO A VIEW REASSESSMENT.
BITSTAMP:BTCUSD
by Ironman8848
8
DOGE - EN ROUTE FOR 0.2900. SELL RALLYESM1 : Ongoing candle showing long shadows !!! W1 : Far away of the weekly pivot level of 0.4715 D1 : Ongoing downtrend still intact and below TS H4 : Bottom of the clouds support zone under attack, below MBB, TS and KS. Failure to hold above the bottom of the clouds would be a first warning signal for further downside calling for 0.2900 H1 : Triangle pattern gives a technical targe of 0.2900 M30: In an ongoing downtrend channel. Watch the clouds M15 : Below the clouds M5 : Recovery attempt which should be seen as a corrective move only CONCLUSION : IN ORDER TO NEUTRALISE THE ONGOING DOWNSIDE SELLING PRESSURE THE DOGE SHOULD RECOVER AND HOLD AT LEAST ABOVE THE HOURLY CLOUDS WHICH ARE CURRENTLY AROUND 0.3500.
BITFINEX:DOGEUSD
by Ironman8848
5
ETH - MULTI TIME FRAMESM1 : High volatility showing a kind of Doji pattern in progress with long shadows !!! W1 : Currently below the weekly pivot level of 2950 and below TS. D1 : Clouds support zone under attack, still above the former support trend line..for the time being ! H4 : Currently roughly in the middle of the clouds resistance area; MBB under attack ! H1 : In a ongoing downtrend channel and in the middle of the clouds, below the middle of the downtrend channel line ! M30 : Levels to watch 2630 and 2910 M15 : The trend is your friend.Watch the clouds M5 : Watch the clouds too CONCLUSION : WATCH 2630 AND 2910 AS A BREAKOUT OF ONE OF THOSE LEVELS WOULD TRIGGER A 300-400 POINTS TARGETING RESPECTIVELY 3000 ON TH UPSIDE AND 2300 ON THE DOWNSIDE (EXPECTED)
by Ironman8848
1
BTC - H1 - WARNING TRIANGLE PATTERN IN PROGRESS ! +/- 4362 ...M1 : Ongoing downtrend in progress (long black candle !) W1 : Primary downtrend intact and failure to recover above the W1 pivot level @ 41230.. so far D1 : Primary downtrend in place which coincides with the clouds resistance zone. Below both KS and MBB and also failure so far, to recover above the secondary dowtrend resistance line. No change in my view. Watch 40'000 as the key pivot level for further development H4 : Another failure to breakout the 40'000 has been seen yesterday's evening which triggered a "Doji" pattern at the top of the clouds ! H1 : Warning ! A triangle pattern is in progress, A breakout would trigger a move of +/- 4362 points, targeting respectively 33'320 (scenario expected) on the downside and 44'600 on the upside. M30 : Ongoing downtrend price action in progress, below the clouds. Watch former low @ 37746 ahead of 37213. A failure to hold above those levels would activate the triangle pattern previously mentioned. M15: Below the clouds M5 : Below the clouds too... CONCLUSION : A BREAKOUT OF EITHER 40'000 ON THE UPSIDE OR 37'000 ON THE DOWNSIDE WOULD TRIGGER A MOVE OF ROUGHLY 4'000 POINTS Have a nice trading day All the best and take care Kind regards Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
DOGE - AT A GLANCEM1 : What else ? Doji pattern in progress with extremely long shadows ! W1 : Currently below the weekly pivot level of 0.4108 D1 : Ongoing downtrend price action H4 : Facing clouds resistance area and currently below TS and MBB H1 : Triangle pattern, trigger level activated target 0.2900 currently below the clouds M30 : In an ongoing downtrend channel, below the middle of this channel ! M15 : Former support trend line (in green) broken, below the clouds M5 : Below the clouds CONCLUSION: THE TREND REMAINS ORIENTED TO THE SOUTH AND ONLY A CLEAR BREAKOUT OF THE 0.3800 AREA WOULD FORCE TO A VIEW REASSESSMENT OF MY EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS !
BITFINEX:DOGEUSD
by Ironman8848
ETH - MULTI TIME FRAMES - WARNING DOUBLE TOP IN PROGRESS H4/H1 M1 : Currently below the 38.2% Fib ret (2735) of the 86-4372 rally... W1 : Currently below the weekly pivot level of 3025 D1 : In a ongoing downtrend channel, still above the clouds support area. Today's candle is showing, for the time being, a potential bearish pattern. Wait D1 closing for validation or invalidation ! H4 : Double top formation in progress and currently below TS. H1 : Double top trigger level @ 2665. A breakout confirmation would give a technical target @ 2420 M30 : Same than H1 but currently already below the clouds. M15 : Below the clouds and below TS M5 : Bullish divergence detected an hour ago, triggered a very small upside move corrective recovery only.. CONCLUSION : THE DOWNTREND IS STILL INTACT ON ONLY A CLEAR MOVE ABOVE THE PSYCHOLOGICAL LEVEL OF 3'000 WOULD FORCE A REASSESSMENT OF MY BEARISH EXPECTED SCENARIO CALLING FOR LOWER LEVELS. Ironman8848
by Ironman8848
2
BTC - FAILURE TO HOLD ABOVE 40'000 ...M1 : Ongoing downtrend in progress W1 : Failure to recover above the W1 pivot level @ 41230 is confirming the downside direction D1 : Yesterday's price action triggered a breakout attempt of the cluster (former uptrend support line and former downtrend line) which failed after having reached an intraday high @ 40'904. BTC also missed to stay and hold above the important resistance level of 40'000, I mentioned yesterday !! As a result, renewal selling pressure took place, pushing down the BTC towards a low so far of 37'212, filling nearly the 38.2% Fib ret (@ 37161) of the last 31'107-40904 rally. H4 : Failure, yesterday, to breakout the top of the clouds has also been an additional confirmation of a top in place; currently testing the bottom of the clouds support area and below the Mid Bollinger Band ! Watch next H4 closing level. A failure to close above MBB @ 38'147, would be seen as negative, calling for further downside move towards the next significant support level, in this time frame around 36'000 H1 : Price action, seen yesterday, after the breakout of the 40'000 triggered a bull trap ! Indeed, BTC never achieved to close on a H1 basis above the closing level of the breakout candle, which triggered the formation of a downtrend (lower highs !) M30 : Below the clouds; watch MBB and downtrend line resistance as indicators. M15 : Same than M30 M5 : A bullish divergence detected 45 min ago triggered a very small corrective upside move which has been rejected by both MBB and KS. CONCLUSION : NO CHANGE IN MY VIEW, ONLY A CLEAR BREAKOUT OF THE 40'000 WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO I AM CALLING FOR !
BITSTAMP:BTCUSD
by Ironman8848
2
BTC - ASCENDING TRIANGLE IN PROGRESS - POTENTIAL GAIN 3474 !H1 : A potential breakout of the ascending triangle is in progress and should be confirmed. Likely to see some pullback towards the breakout level (around 40'000) Watch closely price action over the coming minutes and hours, as a breakout confirmation of this pattern would open the door for 43'434 (+ 3474) which would be the first step towards the next significant resistances levels I mentioned in my previous analysis published earlier today. A failure to hold above 40'000 would invalidate this pattern for the time being.
BITSTAMP:BTCUSD
by Ironman8848
2
BTC - MULTI TIME FRAMES - AT A GLANCE - WATCH 40'000 !M1 : Currently holding above KS and TS but still showing a long black bearish candle in progress. Monthly closing level important to watch at ! W1 : Primary downtrend still intact and still below KS (41230) which should be seen as the key pivot level on W1 time frame. D1 : Despite a nice recovery seen ove the last couple of days, BTC is still far away below the clouds; currently above the D1 pivot g 37'500 and slightly above TS (3800) too, but still below the 40'000 psychological resistance level.! Looking above BTC is still below both KS (44834) ahead of MBB (45970) which confirm that we are not "out of the woods yet" !!! As already mentioned many times, ONLY A SUSTAINABLE MOVE ABOVE 40'000(AT LEAST 2 CLOSING) WOULD FORCE TO A VIEW REASSESSMENT OF MY EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS ! H4 : The 36500 area hold and rejected breakout attempt of the cluster ! Now in the middle of the clouds trying to recover above the former uptrend line support; potential double & triple top in progress, slightly below the 40'000 area.$ H1 : Failure to reach, yesterday, the expected double top target @ 36'000 (low being 36'486) has unfortunately not been reached, sorry guys :-) After having reached this low level, a recovery took place in starting with a bullish engulfing pattern, followed by a 2 white candles, currently in this time frame in a short term uptrend move; above the clouds and above the cluster of MBB, KS and TS. As mentioned above, there is a potential double & triple top in progress. Watch 40'000 on the upside and TS @ 38600 as leading indicators in this H1 time frame. M30 : Bearish engulfing pattern seen 1 hour ago, watch carefully price action to check validation or invalidation of this pattern M15 : Currently traded around TS level below watch MBB @39000 M5 : Bearish divergence (RSI) detected one hour ago with a "diamond" pattern in progress ! IMPLICATION +/- 700 PTS ! OR DT (+/- 575 PTS CONCLUSION : IN ORDER TO NEUTRALISE THE ONGOING PERSISTENT DOWNSIDE RISK BTC SHOULD FIRST RECOVER ABOVE 40'000 HOLD ABOVE IT AND LAST BUT NOT LEAST CONFIRM AT LEAST 2 CLOSING ABOVE IT !
BITSTAMP:BTCUSD
by Ironman8848
US GOV BONDS 10 YR YIELD - MULTI TIME FRAMES - ONGOING DOWNTRENDM1 : Levels to watch : Upside : 1.80 Downside : 1.4880 W1: Last week closing below Tenkan-Sen D1 : In an ongoing downtrend channel, currently below TS and MBB; currently traded around the top clouds support zone and still above the middle level of this downtrend channel. H4 : Last recovery attempt towards 1.69, failed !Below KS, MBB and TS. Bottom of the clouds support has been tested ! H1 : The low reached @ 1.5940 triggered some corrective recovery, but still below the clouds M30 : Recovery attempt in progress towards the clouds resistance area. M15: Clouds, for the time being, rejected the breakout attempt. M5 : In the clouds, looking where to go... CONCLUSION : THE TREND IS YOUR FRIEND AND ONLY A SUSTAINABLE MOVE ABOVE 1.8000 WOULD FORCE A VIEW REASSESSMENT OF THE EXPECTED (YIELD) BEARISH SCENARIO. Ironman8848
TVC:US10YShort
by Ironman8848
DOGE - AT THE GLANCE - FROM LT TO STM1 : Volatility, volatility and volatility... W1 : Watch weekly pivot level @ 0.4108. In this time frame, only a sustainable recovery above that level, would neutralise the ongoing downside risk D1 : Ongoing downtrend still in place; Tenkan-Sen has been briefly tested today. A daily closing above TS and above the ongoing downtrend line resistance would be the first warning of a potential trend reversal (not likely ¨) H4 : Recent and current corrective recovery is facing a tough resistance area to break (clouds resistance zone) which should be seen as the area to break on the upside and on the downside, watch the cluster @ 0.3340, as a failure to hold above this area would open the door for lower levels towards the 0.3000 area again. H1: Mid Bollinger Band (0.3427) under attack. Watch KS (0.3380) as first significant support level and on the upside the level of the former uptrend support line, currently @ 0.3800 M30 : Potential double top formation in progress with its trigger level @ 0.3450. If confirmed target is @ 0.3100 which is also roughly the middle of the M30 clouds support zone. M15 : Currently attempting to recover above the clouds. M5 : Below the clouds which became new resistance to break CONCLUSION : A SUSTAINABLE MOVE ABOVE 38.00 WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR A DOWNSIDE MOVE TOWARDS THE 0.3000 AREA FIRST. Ironman8848
BITFINEX:DOGEUSD
by Ironman8848
BTC - POTENTIAL DOUBLE TOP ON H1 !M1 : Ongoing bearish price action. W1 : Ongoing downtrend... Watch weekly pivot level @ 41230. Only a move above this level on this time frame would neutralise the ongoing downside risk. D1 : Nice recovery seen yesterday which triggered a bullish engulfing pattern, BUT IT DID NOT RECOVER ABOVE TENKAN-SEN...Today's closing level will be very important for further development.Indeed, a failure to hold above the D1 pivot level @ 37'500 would confirm a top in place in this time frame. On the upside a sustainable move above the psychological level of 40'000 would force to a view reassessment of the expected bearish scenario. H4 : The upside breakout of the Mid Bollinger Band (mentioned yesterday !) triggered an upside acceleration towards 40'000, facing a tough resistance to break (thickness of the clouds) and downtrend line resistance (phase 2). Watch MBB (36790) and KS (36702) as first significant support ahead of KS (35553) H1: MBB currently under attack ! A potential double top formation is also in progress with its trigger level @ 38000.target 36000. A failure to hold above 38032) would open the door for 37200, 36600 ahead of 35550 (50% Fib ret and also KS on H4) M30 : Same than M1 watch the clouds as the first support zone M15 : Clouds downside breakout attempt ! M5 : Former clouds support zone becomes new resistance area. Before this, watch MBB and KS as first resistance to break On the downside a failure to hold above 38'000 would confirm further downside as previously mentioned. CONCLUSION : ONLY A CLEAR BREAKOUT AND A SUSTAINABLE MOVE ABOVE 40'000 WITH A D1 CLOSING ABOVE 40'000 WOULD NEUTRALISE THE ONGOING DOWNSIDE RISK. have a nice trading day, All the best. Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
1
ETH - MULTI TIME FRAMES - AT A GLANCE - WARNING !M1 : Ongoing bearish price action W1 : Last week closing level above MBB triggered a corrective move recovery towards a high so far of 2750. Still below the weekly pivot level @ 2950 and Tenkan Sen @ 3025 D1 : Yesterday's price action triggered a bullish engulfing pattern which breakout the clouds on the upside...BUT IT DID NOT BREAKOUT THE TENKAN-SEN YET !! Watch today's closing level as a failure to move and stay above 2650 would confirm a top in place in this D1 time frame. On the downside, the former clouds resistance (2175-2425) becomes now the new support area to watch at. H4 : Still in an ongoing downtrend price action. Recent recovery is still corrective and countertrend. Facing now a tough resistance area to break (see the thickness of the clouds !!). Watch clouds on the upside and cluster (KS,MBB and TS) on the downside to get clues. H1 : Short term reversal in progress, 2 successive black candles which broke the former support trend line. Watch MBB as first support, then 2410, below 2360, 2240 ahead of 2118, the last level being also the H1 clouds support zone. M30 : Watch the clouds and the former uptrend support line which becomes now the new resistance to break M15: Currently testing the top of the clouds. A failure to hold above the clouds would confirm the ongoing trend reversal in progress. M5 : Clouds broken, followed by a pullback attempt which failed to recover above the clouds. Watch cluster (TS, MBB and KS) ahead of the clouds resistance. CONCLUSION : RECENT PRICE ACTION FROM THE LOW SEEN YESTERDAY @ 1728.74 IS A CORRECTIVE MOVE ONLY ND A FAILURE TO CLOSE ON A DAILY BASIS ABOVE 2372 WOULD CONFIRM A TOP IN PLACE, CALLING FOR LOWER LEVELS !
by Ironman8848
5
BTC - H4 - HISTORY REPEATS ITSELF...H4 : Looking at this 4 hours chart you can note the following : 1) From the breakout of the clouds support level around 55'500 BTC has : A) NEVER BEEN ABLE TO RECOVER AND HOLD ABOVE MBB ! B) NEVER BEEN ABLE TO RECOVER ABOVE THE CLOUDS ! 2) Each recovery attempt, has only been corrective and not as a trend reversal has already mentioned many times in my previous analysis CONCLUSION : AS LONG AS BTC WILL NOT BE ABLE TO SHOW A SUSTAINABLE RECOVERY ABOVE THE MID BOLLINGER BAND, THE DOWNSIDE SELLING PRESSURE CONFIRMING THAT WE ARE STILL ON A STRATEGIC PERSPECTIVE IN A SELL ON RALLY MODE AND NOT YET IN A BUY ON DIPS MODE. Last but not least, for those who want to play against the primary downtrend, I repeat once again that ANY LONG EXPOSURE SHOULD BE MONITOR VERY CLOSELY IN PLACING TIGHT STOP LOSS (TRAILING) AND IN HAVING CLEARLY IN MIND THE TIME FRAME IN WHICH YOU WANT TO ACT !!! Have a very nice trading week, have fun, all the best and take care Please, if you like my analysis, do not hesitate to like it and for those who did not follow me ye, pls add Ironman8848 in your following list and talk about him around you :-) Many thanks in advance Regard Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
2
ETH - MULTI TIME FRAMES - AT A GLANCE - WARNING !M1 : Ongoing bearish price action. Low seen so far @ 1'888. Currently below TS and KS. W1 : Mid Bollinger Band (@ 2022) has briefly been reached,followed by a corrective move only. Ongoing black candle is VERY BEARISH and a failure to close today above the weekly pivot level @ 2950 would confirm further downside in the cards for the upcoming session (s) D1 : Bottom of the clouds support zone has already been tested several times. Today's closing level would be very important too, as a failure to hold above the clouds would also confirm further downside towards the former low @ 1888 ahead of 1723 (61.8% Fib ret of the 86.00 - 4372 rally). It does not smell good !!! H4 : Ongoing downtrend, below the clouds and below the cluster (KS, MBB and TS) Currently testing the ongoing support trend line... H1 : Below the clouds and the cluster, Watch the clouds ! M30 : Same than H1 M15 : Same than H1 and M30. Watch also the clouds M5 : Watch MBB (@ 2'280) as a very short term indicator for a very short term corrective (only !) recovery Ironman8848
by Ironman8848
4
BTC - MULTI TIME FRAMES - AT A GLANCEM1 : Ongoing downtrend price action W1 : Currently below 40'550 (W1 pivot level) Weekly closing today, will give clues for next week D1 : Ongoing downtrend, below the cluster (MBB, KS and TS) In a kind of broad triangle formation in progress !! Failure to stay and hold, on a daily closing above the current support trend line would be negative for the upcoming session (s) and would open the door for further downside towards the former lows (35'000, 33500 ahead of the psychological support level of 30'000) H4 : Currently in the 3rd phase of downtrend price action, in a triangle formation in progress !, below MBB, but, still, for the time being above KS and TS; a failure to stay and hold above 36'000 on a H4 closing basis would trigger further selling pressure. H1 : Failure to hold above the short term uptrend support line triggered some sideways price action, caught on both sides by the clouds area. Watch for a breakout ! M30 : Same than H1, watch the clouds for clues M15 : Already below the clouds, Watch 38'000 on the upside and 37'000 on the upside as very short term levels indicators. M5 : Breakout of a triangle pattern which may trigger a move of 1586 pts, targeting respectively 35'815 on the downside and 39'350 on the upside. Looking at the ongoing price action it seems that a downside move is likely to happen. Watch carefully price action over the upcoming M5 period (s) Have nice Sunday, have fun, take care and all the best to all of you Best regards Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTC - MULTI TIME FRAMES - AT A GLANCEM1 : Ongoing downtrend process. Low reached so far @ 30'066 W1 : Below the cluster. Weekly closing will be once more, VERY IMPORTANT ! Indeed, a failure to close above 40'550 on W1 closing basis would confirm further downside in the cards for next week D1 : The trend is your friend. As long as BTC is below 40'000-40'550 on D1 basis, selling pressure will persist. H4 : In this time frame 3 successive bearish price action could be seen Watch 36'000 on the downside and 40'000/40550 on the upside as first significant indicators levels for next move H1 : The target (35'650) of the triangle pattern, mentioned yesterday, has been filled (low 33520 !) Bullish divergence (see chart M15) triggered a recovery which did not breakout the MBB so far . Attempt to go through the clouds resistance area (36'750-40'000) As for H4 watch the clouds breakout to get clues (interesting to note that the top clouds level is currently around the 40'000 which corroborate with what has been said before !) M30 : Currently traded around MBB. Failure to stay and hold above it (36'850) would directly put the focus on 36'000/35'800 area) M15: Bullish divergence on RSI detected @ 33'520, which triggered a corrective move towards a high so far of 38'150, below the clouds. Watch the clouds (38'800-39'000) and KS (35'830) as indicator levels on this time frame M5 : Clouds, for the time being rejected the downside breakout attempt. Watch now MBB(37200) ahead of the top of the clouds 37'500-37'800 to get clues in a VERY SHORT TERM TIME HORIZON. CONCLUSION : NO CHANGE IN MY STRATEGIC VIEW, CALLING FOR A ONGOING BEARISH SCENARIO As already mentioned, any long position should be protected with a tight stop loss and be managed with discipline !!!! Have a nice weekend All the best Take care And if you find my work is valuable for you in your trading strategies, do not forget to like it and if it is not done yet, to add Ironman8848 (ranked by Tradingview as one of the top authors in BTC) in your following list. :-) Thank you Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
6