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BTC-WARNING...BELOW THE DAILY CLOUDS !Yesterday's price action triggered a NEW LONG BLACK CANDLE which closed below the daily clouds @ 39'175 (intraday low @ 38'590) Currently below both the TENKAN-SEN @ 41'174 and the MID BOLLINGER BAND @ 40460 RSI below 50, @ 44.82 LAGGING LINE testing the KIJUN-SEN ! And last but not least, yesterday's closing was also below the former downtrend resistance (red line !) Today's price action will be very important and will validate or invalidate 2 important things : 1) THE CLOUDS SUPPORT BREAKOUT 2) THE FORMER DOWNTREND RESISTANCE LINE WHICH BECAME THE NEW SUPPORT (PULLBACK) A DAILY CLOSING BELOW 38'500 would confirm further downside towards, firstly the former daily congestion zone around the 37'000-36'700 area ahead of the former lows 34'324-32'950. On the upside, a first breakout of the TENKAN-SEN @ 41'174 would temporary neutralise the ongoing downside risk and then should be confirmed by the top daily clouds @ 42'524 (this latter level has already been mentioned yesterday) 4 HOURS (H4) Currently below : 1) The ongoing downtrend line 2) The Mid Bollinger Band 3) The Kijun-Sen 4) The Tenkan-Sen 5) THE CLOUDS LAGGING LINE TESTING THE CLOUDS SUPPORT AREA AND ATTEMPTING TO CROSS UNDER ! RSI far below 50, @ 28.42 (No bullish divergence yet in this H4 time frame), still converging to the downside Watch the clouds area (39'290-40'635) as a good indicator for upcoming trading hours as an upside breakout of the TOP OF THE CLOUDS (also the KS) would reopen the door for a potential upside towards the cluster of Kijun-Sen (41'961) & Mid Bollinger Band (42'201). As usual, watch shorter intraday time frames to get glues and early signal (such as RSI bullish divergence) which will help you to validate or invalidate the implications previously mentioned in longer time frames. Finally, do not forget to put in place a strict and disciplined RISK MANAGEMENT when you act TACTICALLY in STRATEGICALLY COUNTERTREND (RISK REWARD RATIO depending on your time frame trading action !) IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
STANDARD LITHIUM LTD -D1-DIAMOND !Looking at the DAILY picture, a "Diamond" pattern is in progress and is currently trying to upside breakout the downtrend resistance line of this bullish pattern. Last but not least, the Kijun-Sen or Base line also coincides with the upside breakout level of this Diamond pattern, which if broken would also give, an additional confirmation signal, calling for further upside. TECHNICAL TARGET OF THIS DIAMOND PATTERN IS @ 9.52 or roughly the Daily top clouds resistance area !!! WEEKLY (W1) Weekly clouds hold and rejected, for the time being,several successive downside breakout ! A weekly closing above $ 7.03 would be very positive and would open the door for higher levels. Next target being @ $ 7.66 ahead of the cluster @ $ 8.83 - $ 9.00 On my own account I would put in place a Risk Reward ratio of 1:3 !!! Ironman8848. & Jean-Pierre Burki
AMEX:SLILong
by Ironman8848
1
NQ1 100 MF - PULLBACK FAILURE !DAILY (D1) Yesterday's price action on one hand, above the cluster of TS (14'549) and MB (14'570) but..be careful, the shape of the yesterday's candle ( a doji hanging man , is a warning reversal signal which is also validated by the pullback failure to recover and hold above the former uptrend support line (in green) Indeed, today's ongoing price action is already in progress to confirm this expected downside move (should of course be confirmed on a daily closing basis to validate further downside). There is a very fragile zone (14500-14'250) and a failure to hold above 14'250, on a daily closing basis, would directly put the focus on the 14'000 area (former low and doji) ahead of the intraday low of 13'706 reached on January 24th. RSI below 50, @ 44.24 4 HOURS (H4) Still under the influence of this triangle pattern (technical target @ 12'932) , where, for the time being, several pullback recovery attempts failed, also rejected by the H4 clouds resistance zone. The Lagging line is again, currently below the clouds too. A failure to hold, on H4 closing basis) above the ongoing H4 support trend line, currently @ 14'425 (by the way, also the 38.2% Fib ret) would weigh on the NQ1 and would open the door for lower levels previously mentioned in D1. Watch the clouds as the first significant H4 resistance area RSI slightly above the 50 level, @ 50.13 Do you like my analysis ? If the answer is YES, please do not forget : 1) to like it 2) for those who did not follow me yet on Trading View, please add Ironman8848 on your following list 3) and for those who do not have a Trading View access (the best charting application available at the moment !, please do not hesitate to sign up (different levels :-) , in clicking on the following link : www.tradingview.com Many thanks in advance. KInd regards Ironman8848 & Jean-Pierre Burki
CME_MINI:NQ1!Short
by Ironman8848
1
GOLD FUTURES-W1/D1-PIVOT LEVEL @ 1'919WEEKLY (W1) In a broading sideways price action (1677-1919) and under the influence of a DOUBLE BOTTOM IN PROGRESS ( see related ideas below) Currently above the clouds with a Lagging line above the clouds too ! Global weekly picture is positive, calling for a test of the former high @ 1'919 which should be seen as a KEY PIVOT LEVEL for the next move. Indeed, this level is the DOUBLE BOTTOM TRIGGER LEVEL and a clear breakout and sustainable move above 1'919 would confirm this double bottom formation and open the door for a technical target @ 2'161 (NEW ATH) RSI is above 50, @ 60.04 and is still converging to the upside. Only a failure to stay on a weekly basis above the cluster of 1831-1800 support area would force to a view reassessment of this expected bullish scenario calling for an upside breakout of the former high @ 1'919 DAILY (D1) In an ongoing uptrend channel, above the clouds and in a positive and constructive price action. First significant support to look at on a daily basis closing level is @ 1'845. A failure to hold above this level would be the first warning signal ahead of the MBB (1830) which also coincides with the ongoing uptrend channel bottom line support (corroboration with the weekly view previously explained) Last but not least, MAJOR DAILY SUPPORT being the DAILY CLOUDS (1'831-1'800) 4 HOURS (H4) In this time frame, a potential short term double top is in progress ! Watch and monitor closely the price action on the upcoming trading hours and check RSI in order to get signal of a potential short term bearish divergence. A failure to stay on a H4 closing basis, should be seen, as for D1, as a warning signal for a short term reversal,(tactical countertrend short term trading opportunity) still in a consolidation move in a broad bull trend. As usual, watch at shorter intraday time frame to get early signal (s) which will validate or invalide the implications previously mentioned. Do you like my analysis ? If the answer is YES, please do not forget : 1) to like it 2) for those who did not follow me yet on Trading View, please add Ironman8848 on your following list 3) and for those who do not have a Trading View access (the best charting application available at the moment !, please do not hesitate to sign up (different levels :-) , in clicking on the following link : www.tradingview.com Many thanks in advance. KInd regards Ironman8848 & Jean-Pierre Burki
COMEX:GC1!Long
by Ironman8848
BTC-H4/H1- ONGOING DOWNTREND IN PROGRESS !4 HOURS (H4) Recent price action is showing that, for the time being the top clouds support area (43'325), rejected two successive breakout attempts (43'312 and 43'367) with its H4 closing level, respectively @ 43'650, but directly neutralised by the next white long candle (bullish engulfing pattern) with a failure of confirmation on this potential ongoing upside move. Therefore, there is no change in my view which is to watch in this H4 time frame (on a closing basis level) the following points : UPSIDE. : 44'785 DOWNSIDE : 43'420/43'325 RSI stil above 50, @ 55.10...but still pointing to the South ! A BREAKOUT (H4 closing basis !) OF ONE OF THOSE TWO LEVELS WILL SHOW THE DIRECTION and watch the clouds... 1 HOUR (H1) Copy paste of yesterday's picture... but slightly lower. Indeed the cluster of TS, MBB and KS is moving slightly down and is currently between 44'067 and 43'860 and already within the H1 clouds support zone ! A failure to stay(H1 closing basis) above KS (43'860) would put the focus on the ongoing very short term uptrend support line, currently @ 43'550 ahead of the H1 clouds support bottom @ 43'180 Next support area being the 4 hours clouds (in overlay(green) on this H1 chart (43'325-41'565) DAILY (D1) Still attempting to upside breakout the clouds (currently around the former high @ 45'850 and still supported by the Tenkan-Sen @ 43'712 A daily closing below 43'712 would be the first warning signal of a reversal in this daily time frame towards lower levels (cluster support of MBB (41'527) and ongoing daily support trend line (41'396). Failure to hold above the cluster would put the focus towards the next significant support level @ 39'400 (KS and 50% of Fibonacci retracement of the last 32'950-45'850 with minor intermediate support @ 40'000 (psychological ¨) Do you like my analysis ? If the answer is YES, please do not forget : 1) to like it 2) for those who did not follow me yet on Trading View, please add Ironman8848 on your following list 3) and for those who do not have a T rading View access (the best charting application available at the moment ! , please do not hesitate to sign up (different levels :-) , in clicking on the following link : www.tradingview.com Many thanks in advance. KInd regards Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
2
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
HERMES-STRATEGIC MEDIUM/LONG TERM BUY !Following the sharp decline (-30.85 %), since the ATH @ EUR 1678.00 reached on December 1st, 2021, the price action triggered an HAMMER (reversal pattern) coupled with a RSI BULLISH DIVERGENCE, which is a first positive signal calling for a trend reversal towards higher levels. Important to also note that a potential DOUBLE BOTTOM is in progress (first bottom having been reached on October 1st, 2021 @ 1'166.50 ! Today's ongoing price action (long white candle) is, for the time being confirming this reversal and a closing level, on a DAILY BASIS, ideally above the Tenkan-Sen or Conversion line (@ 1'257.80) would add further support to this expected bullish scenario. IMPLICATIONS : UPSIDE : Once this first resistance level will be broken, focus will be on the second resistance area (cluster of both Kijun-Sen or Base line (1288) and the MId Bollinger Band-(1298) -"my own Barometer !", for further development (on this daily time frame, BULLISH above and BEARISH below the Mid Bollinger Band (MBB). The ongoing downtrend resistance line (in red), currently around 1'380 would be the next resistance level to look at ahead of the Daily clouds area (currently very thin) and close to the 61.8% Fibonacci retracement @ 1480.50. A clear upside breakout of the top of the clouds would reopen the door for a new attempt of ATH. DOWNSIDE : Former low @ 1'160.50 is the first support to look at and any dips towards this level should be seen as consolidative move in a new uptrend. Main focus will remain on the WEEKLY CLOUDS SUPPORT AREA (1'200-1'025) with intermediate support @ 1'097,00 this level being the 50% Fibonacci retracement of the big rally which started @ EUR 516.00 in March 16, 2020 CONCLUSION : HERMES is a diamond, very well managed and fundamentally exceptional ! Therefore, STRATEGIC LONG EXPOSURE SHOULD BE BUILT FROM CURRENT LEVEL AND ON DIPS AS A REAL VALUE ADDED ON ANY PORTFOLIO.
EURONEXT:RMSLong
by Ironman8848
3
BTC-UPSIDE BREAKOUT OF THE MID BOLLINGER BAND...MARUBOZU !As mentioned in my last analysis, the MID BOLLINGER BAND should be seen as a VERY, VERY, VERY IMPORTANT INDICATOR for the trend ! WEEKLY (W1) Ongoing weekly candle is showing a nice recovery attempt to breakout to the upside both weekly clouds top (42'570) and the Tenkan-Sen. Weekly closing will validate or invalidate this ongoing price action !!! DAILY (D) The upside breakout of the Mid Bollinger Band coupled with TS and KS, triggered a sharp acceleration (long white bullish candle-roughly a perfect MARUBOZU !) Such kind of candle is usually very BULLISH and should be confirmed by the next candle. The 38.2 % Fibonacci retracement @ 40'264.54 has already been filled and the BTC reached an intraday high so far @ 41'983 (the 50% Fib ret being @ 42'524, which is roughly the middle of the weekly clouds (in overlay on the daily chart) The Lagging line went up too and is still in the weekly clouds ! RSI above 50 @ 56.32 Today's price action and more important its closing level should give more clues for further development in validating or invalidating this Marubozu candle. In the meantime, watch shorter time frames from H4 to H5 which will help you to detect potential early signal of a trend reversal. 4 HOURS (H4) Watch how the upside breakout took place ! 1) Breakout of the upside of the clouds and the ongoing downtrend resistance line, but closing below the downtrend line 2) New upside breakout attempt of the downtrend line with a closing just above the downtrend line and the MBB and the KS 3) Opening above the cluster, retest of the top of the clouds support zone and strong explosion to the upside (long white candle 4) Follow through with 2 long white candles 5) "pause) in this sharp rally (small black candle) 6) ongoing candle attempting to move to the upside Lagging line above the clouds RSI @ 76 IMPLICATIONS : On this H4 time frame, the first significant support level is @ 40'750 A closing level (H4) below 4'0750 would be the first warning signal of a trend reversal in this H4 time frame. On the upside the 42'000 area (former high) ahead of 42'524 (50% Fib ret and roughly the top of the weekly clouds) are the next resistance levels to look at; a successfull breakout of 42'524 would put the focus on a very important point which is the 61.8% Fib ret @ 44'783 which coincides also to the top of the daily clouds. A clear breakout of the daily clouds on a daily closing basis would give additional conviction for further upside towards 47'500 and higher. 1 HOUR (H1) Above the clouds and the cluster of KS, MBB and TS. On this H1 time frame, first support to look at is @ 41'193. A failure to hold and stay sustainably above it would open the door for the 40'300 (important pivot area) in this time frame. On the upside, same than H4 15 MINUTES (15 M) Sideways price action around the cluster with the clouds (41'175-39'655) acting as the support zone. 23,6% Fib ret @ 40'634 and 38.2 % Fib ret @ 39'800 (rally from 36'270 to 41'983) On the upside, same than H4 Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood weekend, As usual, here's our weekend analysis for the week's trades by our Indicators now available Open Source by looking at a glance at the BINANCE:BTCUSDT Daily chart using the “Traditional” settings with theIchimoku Kinko Hyo. Macro Trend Analysis using Kumo: Tendency: BTC continues to be in a downtrend now from 65 candles. The Kijun Trend Indicator is still indicating a downtrend. This is on long and medium term. On the short-term the price is a bit bullish as the price is crossing the Tenkan, as the downdrend showing some weakness. But weekly Tenkan under the weekly Kijun and some sideways bias is on Senkou Span B. It is interesting that the price in the past week touched the support indicated by Chikou SR indicator and then bounced. Price: The price is under the red Kumo and Chikou is under the price. Supports and Resistances in the area and not only: 75000.00 by Fibonacci 67000.00 by Historical Maximum 66001.41 by All-time-high Chikou 51800.00-52600.00 from Ichimoku Flat areas/Chikou Cusps 40500.00-40600.00 from Ichimoku Flat areas/Chikou Cusps 33500.00 from Ichimoku Flat areas/Chikou Cusps For the various static price structures it is possible to refer to the chart where the structures identified by the flat moments of Tenkan, Kijun, Senkou Span A and Senkou Span B on different timeframes are plotted, also Chikou price for the Current timeframe. Moreover, let us remember that the various lines of the Ichimoku serve as price structures: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term). Heikin-Ashi: The Heikin-Ashi shows the weaking of the short-term trend by some green candels wihout lower shadows. Fibonacci CryptoFall, which identifies Fibonacci levels, still shows us a long-term positive sentiment and places the 0 upwards on 75000. Price is now moving from 0.786. Usually a retracement is considered from lo 0.382 and 0.618. Conclusions BTC continues to be in a downtrend. In general, our Kijun Trend Indicator is still short. This position is confirmed as the Weekly Tenkan is under the Weekly Kijun. On the other side the downtrend is weakining as indicated by the Close between the Tenkan and by Heikin-Ashi. It is important to evaluate the closing of the week on the following price structures: - Bullish 40500-41500 - Bearish 29700-30300 For the Bitcoin Dominance and Altcoin Cycle we can consider the Weekly variation: - Total Crypto Market Cap: Increased - Dominance of BTC: Increased - Price of BTC: Increased - Alt Cycle Expectation: Decrease Thanks for your attention, happy to support the TradingView community.
by TheSocialCryptoClub
4
NAVIN FLOURINEHello and a warm welcome to this analysis using Ichimoku and Harmonic Patterns We can see in daily time frame A bearish butterfly near 4200 in early SEPT lead to a sharp decline till end OCT to 3200. Now in the bounce back it has activated a bearish reciprocal ABCD that is near the falling trend line. As per Ichimoku we can see the Base line has gone very far from spot price. Suggesting sluggishness to pullback probability till 3700 which is the Kumo support as well as 38% retracement level of the Harmonic pattern. The view would be invalid if it trades above 4030.
NSE:NAVINFLUORShort
by Dinesh_C_Nagpal
BTC - D1 - POTENTIAL BULL TRAP ?Today, we are going to look carefully at the recent and current price action on the Daily chart. Indeed, after having, yesterday, nearly filled the technical target of the triangle pattern @ 49'421 with an intraday high @ 49'225, the BTC lost the momentum to clearly confirm the clouds breakout as you can see, for the time being, on the D1 chart ! In addition, as already mentioned yesterday, there is a potential double top in progress with the first top between Sept 15th and Sept 19th and the potential second top, currently in progress. IMPORTANT TO NOTE THAT THE SECOND TOP AREA COINCIDES EXACTLY WITH THE CLOUDS TOP RESISTANCE !!! A failure to clearly break this 48'500 level on a daily closing basis would put again the BTC under pressure and looking below 47'000 it looks very fragile towards 46'000 (former resistance level which became new support area) ahead of 45'000 MBB/TS cluster. ON THE UPSIDE, the psychological 50'000 will be the next significant resistance level to break in order to get out of this ongoing uncertainty and indecision for further development. As already mentioned, watch carefully at all intraday time frames, in order to detect early signal (s) as divergences which would allow to act accordingly If you like my analysis, do not forget to support with a like and follow :-) Thanks in advance. Have a nice week. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
ETHUSD - 78.6% FIBONACCI RETRACEMENT !The 78.6 % Fibonacci retracement @ 3'457 has been filled (intraday high so far @ 3'469). In addition, the ETH is still below the ongoing downtrend line resistance and last but not least BELOW THE CLOUDS on a daily basis. Therefore, further development will depend on upcoming price action over the next trading hours and will be confirmed by the daily closing level later on today. A failure to clearly breakout the 3'500 area and hold above it on a D1 closing basis, will add a renewed selling pressure putting the focus on lower levels towards 3'300/3'150 , the latter being the cluster of KS and MBB and also roughly the 38.2% Fib ret of the last 2652-3469 rally; below 3'060 (clouds support zone). An upside breakout of the downtrend line resistance would open the door for 3'676 (former high) ahead of psychological 4'000 level and also Sept 3rd high (4'027) As always, do not forget to monitor shorter time frames (intraday) in order to get early signal (s) which will help you to act accordingly in getting validation or invalidation of implications above mentioned :-) All the best Ironman8848
by Ironman8848
1
BTC - H4 - PULLBACK ATTEMPT !Today we are going to look at three time frames : Firstly the 4 hours where the base of the triangle is currently under attack with an ongoing pullback attempt Secondly, the hourly to see if there is & are potential reversal signal (s) Thirdly, the daily picture to have a global overview of what is going on Let's go to the 4 HOURS CHART : Currently, after having briefly reached an intraday low of 41'982 (so far !), below the triangle support trend line, the BTC is attempting to recover with a pullback which should, of course, be confirmed over the coming hours ! A failure to quickly recover within the triangle pattern and above the cluster (@ 42'870/42'930) would confirm further downside in the cards. TRIANGLE BREAKOUT GIVES A TECHNICAL TARGET @ 36'732 ( - 13.19 % or - 5586 pts) Intermediate supports @ 40'800 (former double bottom) ahead of 39'573 former intraday low of Sept 21st Last but not least, as a gentle remember, the 61.8 % Fibonacci retracement is @ 37'903 and should also be seen, as an important support level to consider Should BTC recover sharply and breakout the upside of the triangle, the technical target would be 49'686 ! (unlikely for the time being) HOURLY: As for H4, currently in an upside corrective move, currently facing the bottom of the clouds resistance and TS too ! Interesting to note that the top of the clouds, also coincides with the cluster of KS and MBB, around 43000/43100 which roughly corroborate the resistance area above mentioned on H4 ! So watch the clouds and monitor closely price action over the coming hours which will help you to get validation or invalidation of the triangle implication previously explained. DAILY : Global picture remains heavy ! Currently traded below the downtrend line resistance and below KS, MBB and TS. For the time being still in the clouds which is showing a sideways price action and could be seen, in this time frame as NEUTRAL ! LEVELS TO WATCH ON D1 ARE THE FOLLOWING : Upside : 45'000 Downside : 40'000 Have a nice trading day. All the best and take care. If you like my analysis and you find it valuable for your trading strategies, please do not forget to like it and for those who does not follow me yet, also please add me on your following list. All the best Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
1
BTCUSD - H4 - TRIANGLE IN PROGRESS ! IMPLICATIONS ?Good morning, today we are looking at the 4 hours time frame which is showing a triangle formation in progress. As mentioned in my previous analysis, the 44'200 level should be considered as an important resistance area, which, for the time being has not been broken on a H4 closing basis yet. Indeed, this pivot level should not be underestimated as it is also : 1) the top of the H4 clouds resistance area; 2) the potential breakout level of the triangle formation in progress; 3) the 50% Fibonacci retracement of the 48834-39573 downside move. In addition, RSI indicator is also in progress to breakout the 50 level. A next H4 closing level above 44'200 would be the first warning signal, calling for further upside ! Triangle breakout, on one or on the other side, would imply, a move of 5'586 points, targeting respectively 49'786 (psychological 50'000 level) on the upside and 36440 on the downside (roughly the weekly clouds bottom level So, watch carefully price action over the coming hours, in looking at the shorter time frames in order to detect early signal (s) which would validate or invalidate the potential triangle breakout above mentioned. On the downside, a sustainable move below 43'500 (see H1 chart) should also be seen as the first warning signal for further downside, targeting 42'600 ahead of 41'950, currently the level of the triangle support trend line. CONCLUSION : WATCH THE CLOUDS ! Have a nice day All the best and take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTCUSD - D1 - WATCH THE CLOUDS !Good morning, today we are going to look at the daily picture again. Indeed, as you clearly can see on this chart, the bottom of the clouds in this time frame, worked, once again perfectly well in rejecting the breakout attempt with an intraday low, below the clouds @ 39573. BTCUSD is currently traded at, I would say a key pivot level on the daily picture; indeed the 41'800/42'000 area, should be seen, on a daily closing basis as an important level for further development. This area (41'800) coincides with the middle level of the 3rd black candle which has been triggered by yesterday's price action with a closing level within the clouds @ 40'596. A failure to recover, hold and close above the 42'000 would add further selling pressure in the cards in opening the door for lower levels, targeting first the clouds breakout ahead of 37'904 (61.8% Fibonacci retracement of the 28'600-2956 rally. A successful recovery would put the focus on the 44'000 area, being both former minor and fragile uptrend line support (in green) and also KS. Very important to note that, strategically speaking we are currently in a broad bearish trend and any recovery should only be seen as a corrective move for the time being. ONLY A CLEAR BREAKOUT OF THE ONGOING DOWNTREND LINE RESISTANCE, WHICH ALSO COINCIDES ROUGHLY WITH THE TOP OF THE DAILY CLOUDS WOULD FORCE TO A VIEW REASSESSMENT OF MY BEARISH VIEW That's why, any long tactical exposure (countertrend) should be closely monitored and managed with tight trailing stop losses !!! Good luck and have a nice day All the best and take care Last but not least, please do not hesitate to like my idea if you find my analysis valuable for you. Many thanks in advance. Kind regards. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
2
BTCUSD - D1 - WATCH CLUSTER @ 47'900 !Good morning, today we are going to look at the daily picture which yesterday, on a closing basis, triggered a bullish engulfing pattern. Indeed, as mentioned in my previous analysis (see related ideas below) I highlighted, the importance of the clouds support zone on this D1 time frame and you can see the confirmation on the chart. Clouds once again worked perfectly well, this time as a support zone which triggered this recovery seen yesterday. So what next ? Despite this nice yesterday's move, BTCUSD remains under the influence of this long bearish black candle of Sept 7th with a very strong resistance area (cluster around 47'900 which should be clearly broken on a daily closing). As long as this cluster is not broken, the pressure remains on the downside, we are currently facing a minor resistance which was the former congestion bottom seen over a couple days at the end of August. IMPLICATIONS : 1) On the upside, a sustainable move above the cluster of 47'900 should be seen as a first warning signal which would neutralise the ongoing downside risk and open the door first for the psychological 50'000 level ahead of former high @ 52'956 2) On the downside, a failure to stay and hold above 46'000 on a closing basis would trigger a dark cloud clover and put the focus once again on the daily top clouds support area, currently @ 45'000 CONCLUSION : Watch shorter time frames : On H4, currently trying to breakout the clouds resistance area and on H1 there is a bearish divergence which has been confirmed; on H1 watch at 46'900 ahead of 46'700 (MBB) of a warning confirmation for a reversal calling potentially for a return towards 46'250 and a failure to hold above this level would directly put the focus on the 45'000 area, daily target on the downside ! Have a great day and all the best Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTC - H4 - WATCH THE CLUSTER...H4 : Last candle closing @ 44'636 is the first warning signal which triggered, as expected and mentioned in my previous analysis published yesterday, a "shy" pullback, which should be watch at very carefully and which will be crucial for further development. Indeed, a failure to recover above the ongoing support trend line (green line) and watch also RSI which broke down as well, will confirm further downside in the cards, calling probably for a retest of former lows (44'125 ahead of 42'900) where situation should be reassessed ! (double bottom ?) On the upside, a recovery above the support trend line, would temporary neutralise the downside risk but as long as BTC stay below the H4 cluster (currently 45'508-45772), the selling pressure will remain. The MBB worked, once again, very well, breakouts attempts but...not confirmed ! A breakout of the cluster resistance area would then put the focus on the next key pivot resistance area...which is once again the H4 clouds zone (46'900-48'000). Watch shorter time frames to detect early signal (s) which will validate or invalidate the two scenarios above mentioned. Have a nice day & week. All the best and take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
Bitcoin ichimoku is crazy BULLISH! 🐃Hi everyone, wish y'all have a profitable lifestyle. 🕊 📍I am a big fan and believer in ichi-moku and its crazt TIPS which in my point of view works the best. 📍Last week we have seen crazy movements from Bitcoin's chart which surprised everyone including myself. 📍 I saw Laggin-span going inside the komu-cloud which is an extremely bullish sign of the chart and then the price coming out of the Komu which also was a second very bullish sign. ⚠️ What we also have to consider a very important factor is the gap between the tenk and kijun lines; whenever they have a huge gap either the price has to go and fill the gap or the movement is so sharp that it may avoid it. 📍 What I personally think that is going yo happen is that the price may have a reversal movement approximately around the date given because since the komu's shifts are very important. 📍 The interesting factor is the void between the coming TPs that makes the movement even easier. THIS IS NOT A FINANCIAL ADVICE THESE ARE JUST MY PERSONAL THOUGHTS ABOUT THE CHART NOTHING MORE
Long
by C_EWAVE13