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Strategicdowntrend

BTCUSD - D1- ONGOING DOWNTREND CHANNELDAILY (D1) Ongoing downtrend stil in place caught in a 46'650-50'650 trading range. Below Tenkan-Sen, Kijun-Sen and Mid Bollinger Band. RSI below 50, @ 38.31 All ingredients are in for further downside in a STRATEGIC perspective, of course. Countertrend trading opportunities (long exposure) should, and I insist be very carefully monitored in applying a strict Risk Management approach which will depend on your investment time horizon. Risk Reward ratio should also be managed accordingly ! Do not forget, we are, STRATEGICALLY, in a SELL ON RALLY MODE and not on a BUY on dips yet. In order to neutralise the ongoing downside risk, the BTCUSD should recover and hold sustainably, on a daily closing basis, above 50'750 firstly which should be confirmed by an upside breakout of the Mid Bollinger Band @ 51'200 and only such kind of price action would force me to view reassessment of my expected bearish scenario calling for lower levels in case of a breakout of the bottom of the trading range above mentioned. 4 HOURS (H4) Currently below the clouds, MBB, KS and TS. Lagging line below the clouds too. Watch the clouds on the upside as resistance area and the former lows around 46'650 as a support zone in that time frame. Have a nice trading day. Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
2
BTCUSD -D1- BEARISH SCENARIO ALIVE !DAILY : As mentioned in my previous analysis written 2 days ago, the expected recovery took place on a CORRECTIVE TACTICAL MOVE ONLY... and not as a strategic trend reversal yet !!! Indeed, so far the Tenkan-Sen, currently @ 50'608, worked well in rejecting its upside breakout and yesterday's price action, after having roughly reached an intraday of roughly 52'000, the closing level @ 50'627, triggered a DOJI pattern which should be seen as an additional warning signal, calling for a new downside move. Daily picture is still showing a broad bear picture with its clear downtrend resistance line (in red) which also coincides with one on my favorite barometer indicator (Mid Bollinger Band) and last but not least with the KIjun-Sen or Base line which is currently @ 54'177 and which should be seen as THE KEY PIVOT LEVEL on this daily time frame !!! : in addition, the RSI is in a broad bear trend price action too. Only a clear sustainable breakout of 54'177 would force to a view reassessment of my bearish expected scenario. Levels to watch at very carefully are the following on a daily closing basis : R3 : 55'385 R2 : 54'177 R1 : 52'000 CURRENT LEVEL : 50'315 S1 : 49'240 S2 : 47'111 S3 : 42'000 H4 : Watch the Mid Bollinger Band as a good barometer indicator too (bullish above and bearish below on a H4 closing basis); currently slightly above it and under selling pressure; watch the ongoing H4 closing period (s) which will give your more clues as a failure to hold above 49'830 would open the door for lower level with the focus on the next significant support level which is the Tenkan-Sen or Base Line @ 47'922. This level, on this H4 time frame should be seen as a Key pivot level too. H1 : Still above the clouds but already below Kijun-Sen, Mid Bollinger Band and Tenkan-Sen; Lagging line is currently trying to cross under Tenkan-Sen !!! Watch the clouds and the price action of the Lagging line too. Have a nice trading day and do not forget ; "THE TREND IS ALWAYS YOUR FRIEND" and if you fight against it, please be sure to act accordingly in protecting your tactical exposure with tight trailing stop losses !!! Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
2
ETHUSD- D1 - WATCH THE CLOUDS TOO !!!WEEKLY : Still in its ongoing uptrend channel, last weekly closing above the Tenkan-Sen. Ongoing weekly candle is going down... Watch Mid Bollinger Band and bottom line of the uptrend channel as the first significant support level as a weekly closing below 3'700 would open the door for lower levels towards the Kijun-Sen, currently @ 3'285 DAILY : Currently in a broad sideways slightly down channel (in orange on the chart) and in the middle of the daily clouds support area. Watch carefully price action of the Lagging Line which is currently below the Kijun-Sen... First significant support is @ 3'761 (50 % Fib ret) and also roughly the bottom of the daily clouds support zone and below the next support is @ 3'498 which is the 61.8% Fib Ret. Interesting to look at the RSI price action, currently below the 50 level, @ 42.37 H4 : Below the clouds and below Mid Bollinger Band, Kijun-Sen and Tenkan-Sen... looks like ready for at least a retest of former low @ 3'753 where a potential bullish divergence (double bottom could take place !) Watch carefully price action during the ongoing and next H4 period to get clues. RSI below 50 too @ 36.81 H1 : Below the clouds and below all three main indicators... for the time being, any recovery should still be seen as a corrective move in a broad bear trend (see daily chart) The ETHUSD should quickly recover at least above 4'200/4'250 on this H1 time frame in order to temporary neutralise the ongoing downside risk. All the best and take care Ironman8848
GEMINI:ETHUSD
by Ironman8848
BTCUSD - H4 - CAUGHT BETWEEN TS AND KS !WEEKLY : Following its weekly closing @ 49'463, below the former uptrend support line, the BTCUSD began the week in the red again. DAILY : Indeed, last daily closing triggered a "DOJI" pattern which confirm growing uncertainty about further development and which looks like an increase of the selling pressure. RSI @ 31.38 H4 : Looking now at the 4 hours time frame, we can clearly see that the BTCUSD is caught between the Tenkan-Sen & Conversion Line and the Kijun-Sen & Base Line, which are respectively @ 48'800 and 49'800. The Mid Bollinger Band, currently @ 50'960 should, as already mentioned several times, really be seen as a very good indicator in considering this line as a barometer, which means BULLISH above and BEARISH below... In addition, the Tenkan-Sen coincides also with a minor uptrend support line which if broken on a H4 closing basis, would directly open the door for lower levels, towards firstly the 46'500 area, ahead of former low around 42'000 reached on Dec 4th. Last but not least a rising wedge formation is in progress on RSI ! H1 : Uncertainty confirmed by the recent and current price action within the clouds... Interesting to note that the H1 bottom clouds also coincides with the support level above mentioned on H4 ! CONCLUSION : Globally it does not smell good ! No change in my expected bearish scenario and any new long tactical exposure should be monitored very closely in adopting a disciplined risk management and in respecting a rational Risk Reward ratio !!! For those who discover Ironman8848 and who like my analysis, please do not forget to firstly like it and add Ironman8848 on your following list. Many thanks in advance. Have a nice week and all the best. Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
1