BTC-DAILY-BROADENING WEDGE !WEEKLY (W1)
The high of previous week @ 42'592 has nearly been retested again with a high reached yesterday @ 42'362
A weekly closing level above 42'592 would neutralise the downside risk in that time frame and increase the chance for a STRATEGIC TREND REVERSAL !
DAILY (D1)
Yesterday's price action between the cluster support(40'200-39'800) with a low reached @ 40'068 and the intraday high reached @ 42'362 with a daily closing level @ 41'794, for the first time, since a while, above the DAILY CLOUDS TOP RESISTANCE LEVEL @ 40'800 .
Yesterday's price action is the first warning signal of a TREND REVERSAL ans a mentioned in W1 a daily closing above 42'262 would confirm it and would open the door for higher levels
Therefore today's ongoing price action should be monitor and watch at very carefully with the focus on the daily closing level which would validate or invalidate further upside move !
RSI @ 55.10
LAGGING LINE above both TS and KS but still i the clouds.
4 HOURS (H4)
Above the clouds, the KS, the TS and the MId Bollinger Band @ 41'089 which should be seen, i this H4 time frame as the first significant support level and a failure to hold above it on H4 closing basis would increase the selling pressure in putting the focus to the 40'000 support area, which also coincides with the top of the 4 HOURS CLOUDS !
1 HOUR (H1)
Above the clouds too, but both MBB and TS already, currently, under downside breakout attack !
Watch upcoming H1 closing to get validation or invalidation of this breakout
IRONMAN884 & Jean-Pierre Burki
