Ironman8848

Ironman8848

D1 : Global strategic picture is pretty clear. As long as we stay above the strategic uptrend support line, ANY downside move should be seen : as a corrective move, in a tactical way and in a countertrend trading action ! Nevertheless, in a high volatility environment, "fine tuning" analysis, in using all time frames, in...

Ironman8848

H4 : The breakout of the former tactical downtrend @ 47280 (see previous post) triggered this long bullish white candle which briefly broke the former high @ 49000 with an intraH4 high @ 49361 ! So what now ? Last H4 price action is showing a potential double top formation in progress ! In addition 3 of the 4 technical indicators...

Ironman8848

H1 : The first H1 closing @ 47654 (above 47280) see M15 previous post, triggered a pullback towards the important level of 47280 which hold, followed by a bullish engulfing pattern which closed above the clouds; such king of price action triggered an unexpected very BULLISH long white candle (4754'0-48952) with a closing at its highest level. So, that was the past...

Ironman8848

H4 : Last candle triggered a recovery (bullish engulfing pattern), but... closing was below KS ! Moreover, the tactical downtrend line resistance remains intact. Recent price action, for the time being as only been a corrective move (pullback) towards the current downtrend line resistance. Therefore, in that timeframe, we need to wait...

Ironman8848

H4 : Last candle closed below the MBB level @ 46705 which is a negative signal on this time frame. In addition, the 46373-44380 looks very fragile and therefore we may see a downside acceleration in this trading range. Important to note that the lower band of this range coincides with the top of the clouds zone support. Watch M5, M15...

Ironman8848

M15 : Suggest to watch 46710 ahead of 47070 as first indication of a potential very short term tactical reversal. Confirmation will be given by the breakout of MBB, currently @ 47280. Failure to do it will validate the targets mentioned in my previous H1 post

Ironman8848

H1 : Failure to hold above the Uptrend support line (UTS 1) triggered selling pressure which pushed the BTC down towards 46133, slighly below the former low of 46231 (last H1 closing @ 46535) Therefore, I would suggest to check carefully the upcoming H1 price action to see if we will stay above the 46200 area (watch M15 and M5 for confirmation...

Ironman8848

H1 : Within the broad rising wedge in progress, there is an ascending triangle in progress as well. Usually, this kind of pattern breakout on the upside... Nevertheless, indicators do not confirm such kind of price action yet. Indeed, all of them are still for the time being in bearish divergence mode. Globally, in this time frame, the...

Ironman8848

D1 : Watch carefully uptrend support line and Mid Bollinger band as a strategic indicators on this time frame Have a great weekend, In Switzerland (Geneva) we are "under" the snow....

Ironman8848

M15 : Following the last 2 hours price action it was "natural" to see a pullback, Upside potential looks pretty limited ! Watch extension to 47215 (50% Fib ret) and former neckline level. Looks like a SELL on rally. Watch M5 for intermediate clues.

Ironman8848

H1 : see H & S formation

Ironman8848

H1 : Neckline broken

Ironman8848

D1 : Yo-yo price action seen over the last couple of days Indeed, last 3 days are showing : 1) doji 2) bearish engulfing (invalidated !) 3) bullish engulfing (to be confirmed on closing basis today !) Global picture is under the influence of a "Double top formation" in progress (trigger level @ 43746 target 38492 ! ...

Ironman8848

D1 : Sharp reversal in progress. Indeed current candle is showing a potential bullish engulfing pattern. Nevertheless, it should be confirmed on a closing basis later on today ! H4 : Potential double top formation in progress, supported by bearish divergences on 4 technical indicators !!! Last candle triggered a strong upside move...

Ironman8848

Intraday charts are pretty clear and for the time being corroborate the expected scenario expressed on D1, H4 and H1

Ironman8848

D1 : Doji top followed yesterday by a bearish engulfing pattern is confirming the ongoing bearish tactical price action in a still strategic bull trend ! Watch H4 and H1 for further development H4 : Yesterday's intradayprice action triggered the expected downside move towards a low of 43750 close to the expected target zone of 43000 ! ...

Ironman8848

H4 : Last candle triggered a "doji" pattern. Watch H1 and shorter time frames (H15 and M5) to have confirmation or invalidation of the ongoing bearish price action

Ironman8848

H1 : Last candle failed to upside breakout the dowtrend line resistance and triggered a shooting star ! Again screen closely M15 and M5 for clues as potential intermediate signals which may validated or invalidated H1 price action and watch next H1 closing for confirmation. Have a nice afternoon... :-)