Ironman8848

Ironman8848

H4 : Last candle triggered also a Doji pattern which is showing somme uncertainty and indecision in making a pause in this ongoing bearish price action. As a result, we can see now a new recovery attempt which will face a first resistance -@ 46074 (TS) ahead of MBB (47213) which is also currently the top of the downtrend channel. ...

Ironman8848

D1 : In a broad bear trend downtrend channel, yesterday's price action triggered a "doji", which close just above the important support level of Kijun-Sen. Today's ongoing price action, broke KS and former low of 44151 in reaching a new intraday low @ 43782 ! Indicators are still pointing to the South. In addition, current price action is...

Ironman8848

H4 : Recent price action triggered a doji pattern (indecision and uncertainty), with its intra H4 low testing Tenkan-Sen. It is currently traded below the middle of the short term uptrend channel. Continue to watch Tenkan-Sen as a first support and then bottom of the channel; lower focus will be on former low @ 44151 ahead of 43577 (50% Fib...

Ironman8848

H1 : Current price action is showing a sideways-slightly up channel within a broad bear trend in H4 and D1. Kijun-Sen rejected a breakout attempt and is likely to trigger some rebound again. No change in my view, watch the clouds and the Fibonacci retracement, respectively the 50% @ 48115 (also the top of the clouds !) and the 61.8% @...

Ironman8848

H4 : Currently in a sideways-slightly up trading channel.. but still below both KS and MBB ! As mentioned in my previous analysis (see D1), recent and current price action should still be seen as CORRECTIVE MOVE ONLY and not as a trend reversal yet ! First significant support remains Tenkan-Sen ahead of the bottom line of the channel. ...

Ironman8848

D1 : After having broke in an intraday basis the Kijun-Sen and reached a low of 44151, BTC recovered nicely, to close @ 46315, above KS. Global picture remains heavy. Indeed, despite the rebound seen recently, BTC is still below Mid Bollinger Band which remains a very good "barometer" indicator as you can see in the past. Therefore, I...

Ironman8848

M15 : Following the expected ongoing downside move towards a low of 44151, BTC is trying to recover. Be very cautious as for the time being, recent price action seen from the low is a corrective move only in a broad bear trend and should not be seen as a trend reversal yet. Indeed, in order to neutralise the ongoing selling pressure, BTC...

Ironman8848

Picture is pretty clear, as long as we stay below the clouds, the tone remains bearish. Watch carefully price action on M15 first and then H1 for validation

Ironman8848

D1 : Yesterday's price action triggered a Bearish Engulfing pattern with the first time a closing level below both Mid Bollinger Band and strategic uptrend support line ! Levels to watch now are the following : Upside : R1 : 49260 (MBB) R2 : 50000 (former strategic uptrend & psychological level) R3 : 51530 % 51600 (Pivot...

Ironman8848

H4 : Following the failure to breakout former highs, the last candle triggered a Bearish Engulfing Pattern ! In addition the closing level was below the Mid Bollinger Band which is bearish. Indicators turned down. Little support now with the uptrend line which looks very fragile. Likely to see at least a retest of the 48000 area...

Ironman8848

H4 : After three successive failures to breakout the Mid Bollinger Band, current ongoing candle is trying again to upside breakout MBB. Important to note that MBB coincides also roughly with the secondary downtrend line resistance. Therefore, a breakout of that area, on a closing period basis, would be the first positive signal for ...

Ironman8848

H1 : In a sideways, slightly downside price action. Clouds are acting as a resistance zone to break. 2 upside breakout failures so far. On the downside, a clouds support breakout would directly put the focus on the 47000 area (yesterday's former intraday low !), ahead of the double bottom area around 45000. M15 : Sideways price...

Ironman8848

D1 : Failure to recover above the pivot level @ 51530 triggered a retest of both Mid Bollinger Band and Strategic uptrend support line. This recent price action increases considerably the risk for a downside breakout of MBB, putting directly the focus on yesterday's low of 47000 ahead of the 45000 area.(KS) In order to neutralise this...

Ironman8848

H1 : Failure to upside breakout the clouds resistance area triggered an opposite move towards the Mid Bollinger Band with the last H1 closing roughly at the level of MBB. Ongoing H1 closing will be important as the bottom of the clouds support zone is currently under attack, with slighly below still the Kijun-Sen as the last support before the former lows at...

Ironman8848

H1 : A double bottom formation took place yesterday; trigger level @ 49582 Trigger upside breakout occured but the failure to move above the current downtrend line resistance rejected the breakou attempt. In addition, this rebound nearly reached the 50% Fib ret @ 51599 (high was @ 51459) We then saw a pullback towards the trigger level...

Ironman8848

D1 : Yesterday's strong selloff towards an intraday low of 44845, in breaking briefly the Kijun-Sen (45273) level and rebounded sharply above it, to finally close above the strategic uptrend support line which keep, for the time being, the bullish mode still intact. Today's ongoing price action is showing a recovery followup in progress;...

Ironman8848

M 15 : Potential H & S formation in progress. Breakout of the neckline, currently @ 46612 would be the first warning of a validation of this pattern. If occur, allow first a breakout, then a pullback and see how price action will develop and act accordingly if recovery failed. Target of this H & S pattern is @...

Ironman8848

H4 : The recent selloff (55046-44845)triggered three long black candles) followed by a long white candle which is showing a piercing line pattern. The 38.2% Fib ret has already been filled @ 48729 which coincides roughly with the bottom of the clouds resistance zone. Higher next level to watch is the 50 % Fib ret @ 49935 (roughly the...