Ironman8848

Ironman8848

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 ! ...

Ironman8848

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,...

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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...

Ironman8848

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...

Ironman8848

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 ! ...

Ironman8848

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...

Ironman8848

D1 : Yesterday's price action triggered an "Harami" pattern which is showing some uncertainty and indecision. Moreover, the closing price coincides exactely with the level of the top of clouds support zone ! That is why, today's price action will be decisive for further development on price action next week. In addition, today's is even very...

Ironman8848

D1 : Watch carefully at D1, W1 and M1 in the coming days...

Ironman8848

D1 : Recent price action is showing a potential trend reversal in progress (below MBB) W1 : Dark cloud cover in progress (to be confirmed on a weekly closing basis) M1 : Dojipattern in progress which should also be confirmed on monthly closing on Friday Wa

Ironman8848

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...

Ironman8848

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...

Ironman8848

H4 . After having filled the 61.8% Fib ret , it is likely to see some technical recovery towards 32500/33000 Such kind of move should be used either for a quick long position or be used for selling at a better level watch H1 for clue where bullish divergence is in progress on RSI

Ironman8848

D1 : Yesterday's price action confirmed the ongoing bearish mode in making a "Doji shooting star" pattern ! More important is the fact that the intraday recovery failed to move above Kijun-Sen @ 34867 and also MBB @ 35655 Therefore, it is an additional trading session which confirm a downtrend still intact on D1 time frame Moreover,...

Ironman8848

W1 : Yesterday's W1 closing price is confirming the ongoing bearish price action Downtrend remains intact As for D1 and H4 recent recovery move has been purely corrective and not a trend reversal yet ! See D1 and H4 charts for more clue On W1, strategic targets are the following : 1. 29784 2. 25912 3. 20562 ...

Ironman8848

H4 : Failure to hold above former support trend line triggered a long black bearish candle which a closing below MBB. Next support is @ 31332 ahead of 30735 with focus on psychological level of 30'000

Ironman8848

H1 : Short term recovery took place, filling on its way the 61.8% Fib ret of the last short term downside move. An extension towards the 78.6% @33343 can not be ruled out. Nevertheless, as already mentioned a couple days ago, in order to confirm a trend reversal, we need to see a clear upside move which should break first 33915, ahead of 34247...

Ironman8848

H4 : 3 failures to reverse the ongoing bearish price action Downtrend is still intact in this time frame For the time being any upside move should be seen as a corrective move only and use as a SELL on rally opportunity calling for lower levels. Watch MBB as leading indicator, bullish above and bearish below Have a nice evening...

Ironman8848

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...