W1 : A potential mirror effect triggered by an ongoing Bearish Engulfing pattern (to be confirmed in W1 closing !) is in progress. The 23.6 % Fib ret @ 45491 of the 3850-58354 rally has already been filled. In addition, there is also a RSI bearish divergence in progress which is not been confirmed yet. Next important support level to watch is...
D1 : As expected, (Tks to Elon !)..., the Monday's breakout of former high @ 42000 triggered a sharp acceleration move towards a high so far of 48200, close to the psychological target mentioned of 50'000. (see my previous Heat Map post). Looking at yesterday's price action, we can see a "school case", perfect "doji" pattern which means indecision and...
D1 : Double top in progress, coupled with a bearish engulfing pattern (which should be confirmed on a closing basis !) In addtion technical indicators are showing bearish divergences... Watch MBB and TS @ 1.0960 as leading indicators for further development. Indeed, a failure to hold above the 1.1000 area would directly put the focus on 1.0460...
H4 : Last closing candle triggered a "doji" pattern, showing uncertainty and indecision In addition closing was below TS Watch now MBB, currently @ 38552 and on the upside the 39700 area ! And again screen intermediate price action on H2, H1 and shorter to detect as early as possible, any precursor signal showing a switch from bear to...
H4 : Last candle triggered as shooting star coupled with a potential double top in progress. In addition indicators are also in divergences process Watch : 36477 (TS), 35300 (MBB) and 35280 (KS) 35300 should be seen as a very important support area in this time frame Failure to hold above it would open the door for : S1 :35002 ...
D1 : Saturday's price action triggered a Doji pattern. Yesterday's price action triggered a long black bearish candle with an intraday low, holding above the former uptrend (green arrow). Today's ongoing price action is showing a recovery in progress facing right now the first resistance level to break and it is, once again TS ! ...
W1 : For the second consecutive week, the closing price of last week has been below the downtrend line resistance level; the shape of the candle (small body and long upside and downside shadows is confirming uncertainty !) Important to note the importance of TS which worked perfectly well again as a leading indicator in holding so far 3 times,...
H4 : Take a few seconds for looking back what happened since the peak reached 3 weeks ago ! Indeed, you can see that the downtrend (falling wedge in progress) is still intact. 1) Several recoveries attempt (upside breakout failures occured; the most important attempt being the one seen a couple of days ago ; A) A long white...
H4 : As both KS and former support trend line hold, it triggered an ongoing new recovery attempt in progress. It is not a surprise to see that the pivot point is at the same level than the one seen in D1 (see my previous post) Indeed, first Fibo ret is @ 35060 and TS @ 35305 Therefore, in order to maintain the current upside biais, it is...
D1 : Despite a strong recovery attempt seen yesterday (thanks to Mr Elon Musk...which "help" and triggered a sharp upside move in a couple of hours (31990 towards 38620 !), BTC did not manage to close and hold above the downtrend line resistance which is still in place and which worked perfectly well in rejecting 5 times breakouts attempts ! ...
D1 : Despite a strong recovery attempt, yesterday's closing price @ 13186, did not confirmed yet that the downside risk is over. Indeed, the failure to close, at least above 13306, which is the middle of the former long bearish black candle is a first signal that the ongoing new bear trend is in progress. Today's price action will also be...
D1 : 30'000 filled yesterday with an intraday low @ 29150 Today's price action is showing a new recovery attempt with an upside potential pretty limited. Indeed, TS currently @ 32620 ahead of the 61.% Fib ret @32652 of the last downside move will be the first important resistance area to break. Current price action should still be seen as a...
D1 : Indeed, the failure, yesterday to recover above the former countertrend support trend line should be seen as a negative factor for those who are still strategically bullish on BTC ! W1 picture is also on a negative ongoing process... For short term analysis, have a look at : H4 : 2 failures to upside breakout above the short term...
Consolidate and no close below tenkan-sen (support @ 24.5k) to kijun-sen (22k) or we are in danger of losing the trend. Potential price targets in red and yellow, but more importantly with a date of late December 2021 or early January 2022.
D1 : As expected and mentioned in my yesterday's post, a recovery took place, triggering an upside move towards an intraday high of 33'869 which roughly filled my first target of 33'915 (Kijun-Sen). No change in my view, BEARISH STRATEGIC VIEW, and only a move above : 1) Kijun-Sen (KS) @ 33915 2) Tenkan-Sen (TS) @ 34247 (34407 being...
D1 : Yesterday's price action , a long black candle with an intraday low @ 28800 ! and a closing price # 30818 confirmed a clear breakout of the triangle pattern, calling for a technical target @ 23'590... Nevertheless, after this sharp decline, it is likely to see some technical recovery which is expected to be relatively limited and which...
D1 : Yesterday^s closing below both TS and MBB with an intraday low @ 33400, close to my technical target of 33250 mentioned yesterday morning in my previous post. On going price action is showing a POTENTIAL downside triangle breakout which should be confirmed on closing basis this evening. A closing outside of the triangle would be the first signal...
D1 : Recent price action triggered an intraday move towards a low so far@ 34'800 Currently traded below both Tenkan-Sen (TS) and Mid Bollinger Band (MBB) ! Uptrend triangle support line currently under attack... Watch closely today's closing for clues A failure to stay and hold inside the triangle pattern would give a warning of...