M1 : Currently holding above KS and TS but still showing a long black bearish
candle in progress. Monthly closing level important to watch at !
W1 : Primary downtrend still intact and still below KS (41230) which should be
seen as the key pivot level on W1 time frame.
D1 : Despite a nice recovery seen ove the last couple of days, BTC is still far away below the clouds;
currently above the D1 pivot g 37'500 and slightly above TS (3800) too, but still below the 40'000 psychological resistance level.!
Looking above BTC is still below both KS (44834) ahead of MBB (45970) which confirm that we are not "out of the woods yet" !!!
As already mentioned many times, ONLY A SUSTAINABLE MOVE ABOVE 40'000(AT LEAST 2 CLOSING) WOULD FORCE TO A VIEW REASSESSMENT OF MY EXPECTED
BEARISH SCENARIO CALLING FOR LOWER LEVELS !
H4 : The 36500 area hold and rejected breakout attempt of the cluster ! Now in the middle of the clouds trying to recover above the former uptrend line support;
potential double & triple top in progress, slightly below the 40'000 area.$
H1 : Failure to reach, yesterday, the expected double top target @ 36'000 (low being 36'486) has unfortunately not been reached, sorry guys :-)
After having reached this low level, a recovery took place in starting with a bullish engulfing pattern, followed by a 2 white candles, currently in this time frame
in a short term uptrend move; above the clouds and above the cluster of MBB, KS and TS. As mentioned above, there is a potential double & triple top in progress.
Watch 40'000 on the upside and TS @ 38600 as leading indicators in this H1 time frame.
M30 : Bearish engulfing pattern seen 1 hour ago, watch carefully price action to check validation or invalidation of this pattern
M15 : Currently traded around TS level below watch MBB @39000
M5 : Bearish divergence (RSI) detected one hour ago with a "diamond" pattern in progress ! IMPLICATION +/- 700 PTS ! OR DT (+/- 575 PTS
CONCLUSION : IN ORDER TO NEUTRALISE THE ONGOING PERSISTENT DOWNSIDE RISK BTC SHOULD FIRST RECOVER ABOVE 40'000 HOLD ABOVE IT AND LAST BUT NOT
LEAST CONFIRM AT LEAST 2 CLOSING ABOVE IT !
candle in progress. Monthly closing level important to watch at !
W1 : Primary downtrend still intact and still below KS (41230) which should be
seen as the key pivot level on W1 time frame.
D1 : Despite a nice recovery seen ove the last couple of days, BTC is still far away below the clouds;
currently above the D1 pivot g 37'500 and slightly above TS (3800) too, but still below the 40'000 psychological resistance level.!
Looking above BTC is still below both KS (44834) ahead of MBB (45970) which confirm that we are not "out of the woods yet" !!!
As already mentioned many times, ONLY A SUSTAINABLE MOVE ABOVE 40'000(AT LEAST 2 CLOSING) WOULD FORCE TO A VIEW REASSESSMENT OF MY EXPECTED
BEARISH SCENARIO CALLING FOR LOWER LEVELS !
H4 : The 36500 area hold and rejected breakout attempt of the cluster ! Now in the middle of the clouds trying to recover above the former uptrend line support;
potential double & triple top in progress, slightly below the 40'000 area.$
H1 : Failure to reach, yesterday, the expected double top target @ 36'000 (low being 36'486) has unfortunately not been reached, sorry guys :-)
After having reached this low level, a recovery took place in starting with a bullish engulfing pattern, followed by a 2 white candles, currently in this time frame
in a short term uptrend move; above the clouds and above the cluster of MBB, KS and TS. As mentioned above, there is a potential double & triple top in progress.
Watch 40'000 on the upside and TS @ 38600 as leading indicators in this H1 time frame.
M30 : Bearish engulfing pattern seen 1 hour ago, watch carefully price action to check validation or invalidation of this pattern
M15 : Currently traded around TS level below watch MBB @39000
M5 : Bearish divergence (RSI) detected one hour ago with a "diamond" pattern in progress ! IMPLICATION +/- 700 PTS ! OR DT (+/- 575 PTS
CONCLUSION : IN ORDER TO NEUTRALISE THE ONGOING PERSISTENT DOWNSIDE RISK BTC SHOULD FIRST RECOVER ABOVE 40'000 HOLD ABOVE IT AND LAST BUT NOT
LEAST CONFIRM AT LEAST 2 CLOSING ABOVE IT !
