Get started

Cryptos

#btcstarburst TRAP OR TREAT?Who knows? This is the center of a major GANN channel… I have referred to this yellow line as the Blood line… (its yellow so its clear to see) the channel we have been falling through (THE RED RIVER OF DEATH) magically stopped on the line!! If it continues onward and breaks above 41k, 43k and 46k then holds support back in business…. The support channels are there. I could be broken down in smaller time frames but people seem to complain about the complex issues of reading the charts (laser eyes needed). Some would call this a dead cat bounce, others are going to say there is “GREAT NEWS IN THE AIR TODAY” and this is why BITCOIN is moving… Both are FUD. The beast does what it wants too. Leverage manipulates its path drastically, and as stated there can be massive falls on days in multiples of 5 (this doesn’t always happen but it is close and common, and when it doesn’t we do see a run). If you look at the BLUE line from our previous grid… Important to break. DCA SAFELY THIS A STUDY into Gann
FTX:BTCUSD
by Jonnycatx
3
LUNA possibility to retest and continue highHey Colleagues, Today we came across LUNA/USDT . We see a great opportunity for this coin to show some bullish candles in the coming period around 90 Level. If you like ideas provided by our team you can show us your support by liking and commenting. Yours Sincerely, Tournesol Team Disclamer: We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
Long
by TournesolPremium
4
BEPROO TO BLOW!!! usd Taking a look at Price action on the USD pair we can see that we are retesting a level from August 2020 acted as resistance and was broken out of again on February 2021.Then was back tested once as support in June 2021 on top of the short-term Daily Double bottom and is now being back tested again here in March and the month of February in 2022 with another short-term Daily Double bottom .Now we're seeing solid rejection continuation confirmation to the upside with weekly bullish Divergence on the macd indicator from a weekly perspective !! The asymmetry in terms of risk to reward is very lucrative
Long
by Olutobi-Ogunsemore
Cardano gonna pullback?Looking at the daily chart on Cardano I am seeing price pulling back in the short-term. Around 10 days ago I was calling bullish on ADAUSD after seeing that support hit at .72 on March 11th. I mentioned I wanted to see .90 taken out and then that key resistance level of 1.00 which was the most important. After yesterday's big move above 1.00 and the large rangy candle I see price looking pretty overextended and see this pulling back in the short-term. It is important though to watch the mid level of yesterdays daily candle, roughly around 1.04. If that mid level breaks then it should drop further but it is possible if finds support at or around that level and rebounds. Will see how it plays out but it is nice to see most of the cryptos looking pretty strong the last week or so.
BITTREX:ADAUSDShort
by Dancharles
1
BTC-DAILY-PULLBACK ?WEEKLY (W1) Weekly closing @ 37'790 just slightly above the weekly clouds support level @ 37'516. We, very often, hear "jamais 2 sans 3" and we saw the third weekly candle closing, in a row, above the bottom of the weekly clouds support area... Ongoing price action is showing a recovery attempt within the clouds and in this weekly time frame, we have to wait the next weekly closing level which will give more clues for the next week (s) WEEKLY PIVOTS LEVELS : 32'950 45'850 DAILY (D1) Last daily price action triggered an additional bearish black candle which closed @ 37'790, below the former uptrend support line ! Today's ongoing recovered price action should be seen, for the time being as a CORRECTIVE PULLBACK ONLY, towards the former support trend line. Indeed, as already mentioned, the CLUSTER of MBB, KS and TS is still the first significant resistance area (39'700-39'900) to break in order to neutralise, temporary this downward pressure, which is still alive ! Above it, the DAILY CLOUDS RESISTANCE AREA should also be clearly broken on a daily closing basis in order to reopen the door for higher levels towards the ongoing daily downtrend resistance line) ON THE DOWNSIDE, no change in my view 37'500-37'000 as the first support area to look at, ahead of the 36'250/35'000 next support zone. 4 HOURS (H4) In recovery mode, currently above both TS and MBB, and facing the KS resistance @ 39'201 ! Above the next resistance level will be the 38.2% Fib ret @ 39'486, ahead of the 50% Fib ret @ 40'079 (also roughly the bottom of H4 clouds resistance area !) then the 61.8% Fib ret @ 40'672 (H4 top clouds resistance zone) On the downside, a failure to clearly break and hold on H4 closing basis above KS woul, again put the focus towards the former low around 37'500 ahead of the former daily congestion bottom @ 37'000 ahead of 36'250/35'000 KEY SUPPORT PIVOT LEVEL @ 32'950 1 HOUR (H1) Corrective recovery from the intraday low of 37'567 towards a high so far of 39'220 (doji !) and H1 clouds in resistance ! IN THIS HOURLY TIME FRAME,WATCH THE CLOUDS (39'000-39'300) ON THE UPSIDE AND 38'600-38'400 ON THE DOWNSIDE. Do you like my analysis ? Do you find it bring added value to your trading activity ? If YES, please do not forget to like it and for those who do not follow me yet on TradingView, please add Ironman8848 in your following list. Last but not least for those who do not have access yet, to TRADINGVIEW (the BEST charting application available for the moment (more than 30 millions users over the world !) please sign up in clicking on the following link : www.tradingview.com Have a nice trading week and all the best. Take care IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC-DAILY - WATCH 38'244 AND 39'900 AS PIVOT LEVELSOn the DAILY TIME FRAME , the 2 levels to watch at and monitor carefully still the same than yesterday : 1) ON THE DOWNSIDE : 38’244 (Former recent intraday low) 2) ON THE UPSIDE : 39’700 – 39’900 ( KS and TS Cluster) A breakout, on a DAILY CLOSING BASIS , of one of those levels, would have the following implications : DOWNSIDE : Focus will shift towards the 37’000, former congestion zone seen at the end of February ahead of the former low of Jan 24th around the 33’000 area. UPSIDE : Focus will shift towards the ongoing downtrend line resistance, currently around 41’250, ahead the main resistance of the DAILY CLOUDS , currently between 41’550 and 42’524, THE LATTER LEVEL (42’524) BEING THE KEY PIVOT LEVEL, WHICH IF CLEARLY BROKEN WILL FORCE TO A VIEW REASSESSMENT OF MY EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS RSI below 50, @ 46.72 LAGGING LINE moving, for the time being on a sideways mode, below the KIJUN-SEN. Last but not least the ongoing secondary uptrend support line (around 38'800 ) is currently under attack and and a failure to hold above this line, on a DAILY CLOSING BASIS, would also weigh on the BTC in increasing the selling pressure. 4 HOURS (H4) Currently below the clouds and the Mid Bollinger Band and just slightly below the TENKAN-SEN (39'056) Ongoing H4 closing level should give more clues for the upcoming trading hours. Indeed, the H4 clouds resistance area (39'532-41'250) should be seen as the main obstacle to cross over in this time frame; 39'904 being the 38.2% Fib ret, 40'418 the 50% ahead of 40'931 (61.8%) and also close to the top of H4 clouds. RSI @ 45.95 LAGGING LINE below the H4 clouds and below both TS and KS; still slightly above MBB Currently caught during the last 2 days, in a narrow trading range, between 38'700 and 39'500 1 HOUR (H1) Sideways price action, currently below the H1 clouds which are, at the moment, very thin = very fragile. A sustainable recovery above the hourly clouds would be the first signal, calling for a potential TACTICAL SHORT TERM REVERSAL, with, once again an upside potential pretty limited (Fibonacci retracements previously mentioned in H4) in this broad BEARISH STRATEGIC STRUCTURE !!! CONCLUSION : HAVING IN MIND A STRATEGIC VIEW, THE UPCOMING WEEKLY CLOSING LEVEL IN A COUPLE OF HOURS SHOULD GIVE ADDITIONAL CLUES FOR NEXT WEEK AS A FAILURE TO HOLD WITHIN THE CLOUDS WOULD BE SEEN AS A ADDITIONAL WARNING SIGNAL, CALLING FOR LOWER LEVELS; THE LAST 2 WEEKS, THE BTC MANAGED TO CLOSE AND HOLD ABOVE THE BOTTOM OF THE WEEKLY CLOUDS AREA ! Will the BTC be able to repeat the price action of the 2 previous weeks and hold above the bottom of the weekly clouds ? Answer in a few hours... Have a nice Sunday and all the best. Take care, IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
Monero looking to breakout after holding supportMonero XMRUSD is looking quite interesting today breaking out and looking to test the recent breakout and resistance. We are looking at a daily chart in this idea and I show current and past support and resistance. Like most of the major cryptos XMR has been quite bearish for a while but with this crypto it is at least looking to turn around. 140 is strong support and then on March 8th we see the big breakout in that larger range candle. On a side note one of my strategies for long term success has been to watch the larger range candles and more often look to enter after smaller ranges. Typically a large candle will pullback on the next candle a good percent of the time as we saw on March 9th. The current breakout will need to be watchful of the 200 resistance level but overall it looks pretty interesting. This is what the beginning of a potential trend change looks like. Getting back above 254 resistance really confirms it.
BITFINEX:XMRUSDLong
by Dancharles
BTC - DAILY - CLUSTER RESISTANCE @ 39'700-39'900 !DAILY (D1) After having, yesterday reached an intraday low @ 38'244 in testing the ongoing support trend line, the BTC closed @ 38'780 , below the clouds and the cluster of Tenkan-Sen and Kijun-Sen and last but not least, below the MID BOLLINGER BAND too ! Therefore, on the DAILY TIME FRAME, there are 2 levels to watch at and monitor carefully, and this on a DAILY BASIS , and those levels are the following : 1) ON THE DOWNSIDE : 38'244 (Former recent intraday low) 2) ON THE UPSIDE : 39'700 - 39'900 (KS and TS Cluster) A breakout, on a DAILY CLOSING BASIS, of one of those levels, would have the following implications : DOWNSIDE : Focus will shift towards the 37'000, former congestion zone seen at the end of February ahead of the former low of Jan 24th around the 33'000 area. UPSIDE : Focus will shift towards the ongoing downtrend line resistance, currently around 41'250, ahead the main resistance of the DAILY CLOUDS, currently between 41'550 and 42'524, THE LATTER LEVEL (42'524) BEING THE KEY PIVOT LEVEL, WHICH IF CLEARLY BROKEN WILL FORCE TO A VIEW REASSESSMENT OF MY EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS RSI below 50, @ 46.97 LAGGING LINE moving, for the time being on a sideways mode, below the Kijun-Sen. WEEKLY (W1) Under the influence of a MAJOR DOUBLE TOP FORMATION IN PROGRESS WITH ITS TRIGGER LEVEL @ 28'600 !!! Currently supported by the clouds bottom support but below the Tenkan-Sen (39'400). Upcoming weekly closing will give more clues and will validate or invalidate the weekly bottom clouds support @ 37'516. A weekly closing below 37'516 would be seen as a warning negative signal for the upcoming week ! 4 HOURS (H4) Currently above the H4 junction of the support trend line and the ongoing downtrend line resistance @ 38'700... but below the CLOUDS ! The 39'500 area mentioned in my previous analysis, published yesterday morning, should once again be seen as the first significant resistance level (middle of the 2 long candles (the white and the black) seen yesterday, upside acceleration which has been short lived and invalidated by the next long black candle (bearish engulfing pattern) and also rejected by both the Kijun-Sen and the Mid Bollinger Band (H4 closing basis) In term of Fibonacci retracement, the 38.2% is @ 39'904 (filled yesterday, intraday high being 40'237), the 50% @ 40'418 and the 61.8% @ 40'931, this level being also, roughly the top of the H4 clouds resistance (41'174) On the downside, same view than for D1 1 HOUR (H1) There are, potentially a double bottom and a double top in progress ... (+ / - 1'993) Watch the trigger levels which are respectively : For the double bottom @ 40'237 , breakout confirmed would open the door for a technical target @ 36'251 For the double top @ 38'244 , breakout confirmed would open the door for a technical target @ 42'230 Have a nice weekend. All the best and take care. IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC-DAILY-WARNING DARK CLOUD COVER !Looking briefly at the ongoing weekly time frame picture we can see a TRIANGLE PATTERN IN PROGRESS and a recent price action attempting to downside breakout the WEEKLY CLOUDS SUPPORT LEVEL (37'516) intraweek low being @ 37'169. RSI is below 50,@ 41.76 LAGGING LINE is roughly in the middle of the CLOUDS UPCOMING WEEKLY CLOSING LEVEL WILL BE VERY IMPORTANT AGAIN TO LOOK AT AND WILL VALIDATE OR INVALIDATE ONCE AGAIN THE THIRD ATTEMPTING IN A ROW TO BREAKOUT THE BOTTOM OF THE WEEKLY CLOUDS SUPPORT DAILY (D1) Yesterday's price action triggered a DARK CLOUD COVER (BEARISH SIGNAL) with a closing level (39'444), below : 1) the clouds 2) the Tenkan-Sen 3) The Kijun-Sen AND LAST BUT NOT LEAST BELOW "MY BAROMETER", THE MID BOLLINGER BAND (39'658) The intraday low so far @ 38'244 also coincides with the ongoing uptrend support line and may be seen as a short term minor support RSI @ 45.34 LAGGING LINE , below the clouds, the Tenkan-Sen, the Mid Bollinger Band and the Kijun-Sen Overall, following the failure before yesterday to recover and hold sustainably above 42'524 ( have a look at my yesterday's analysis) and the yesterday's bearish price action, the GLOBAL DAILY PICTURE REMAINS HEAVY SUPPORTED BY THE ONGOING PERSISTING DOWNWARD PRESSURE ON THE WEEKLY TIME FRAME... 4 HOURS (H4) The 78.6% Fibonacci retracement extension @ 38'329 has been filled. Currently, below the clouds, Tenkan-Sen, Kijun-Sen and Mid Bollinger Band. RSI @ 39.89 LAGGING LINE below all the important indicators ! No signal of short term reversal yet, in this H4 time frame 1 HOUR (H1) Potential short term potential recovery (RSI bullish divergence) with an upside move, f or the time being pretty limited towards 39'000-39'500 , the latter level being the KIJUN-SEN and also the bottom of the H4 clouds resistance area. CONCLUSION : STRATEGIC PICTURE REMAINS GLOBALLY BEARISH and for the time being any recovery should be seen as a CORRECTIVE MOVE ONLY in a BROAD BEAR TREND and therefore, TACTICAL EXPOSURE (countrertrend ! ) should be managed accordingly in adopting a disciplined RISK REWARD APPROACH in having always in mind : IN WHICH TIME FRAME AM I TRADING, very short term, short term, medium or long term ! This methodology will allow you to put in place a trading plan which will be in perfect adequation with your objectives in terms of time horizon and targets. On the upside I reiterate what I told yesterday, in that only a sustainable move above 42'524 on a daily closing level would force to a view reassessment of my strategic bearish scenario calling for lower levels, with, of course, due to this high volatility current environment, plenty of TACTICAL TRADING OPPORTUNITY which should, as previously mentioned, managed accordingly in placing trailing stop losses to protect your potential profits. Do you like my analysis ? If YES, please, do not forget to like it and for those who do not follow me yet on trading view, please add IRONMAN8848 on your following list and for those who do not have access yet to TRADING VIEW (the best trading application available for the moment) please sign up in clicking on the following link : www.tradingview.com Have a nice trading day and may your long goes up and your short goes down. All the best and take care. IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
$BOBAUSDT is the next Matic$BOBAUSDT entry PT .40-50 ^ Basically 1k to 900k Timeline 2 years 1k to 30Mil by 2030 $MATICUSDT is L1 $BOBAUSDT is L2 It has a circulating supply of 160 Million BOBA coins and a total supply of 500 Million. Boba is an L2 Ethereum scaling & augmenting solution built by the Enya team as core contributors to the OMG Foundation. Boba is a next-generation Ethereum Layer 2 Optimistic Rollup scaling solution that reduces gas fees, improves transaction throughput, and extends the capabilities of smart contracts. Boba offers fast exits backed by community-driven liquidity pools, shrinking the Optimistic Rollup exit period from seven days to only a few minutes, while giving LPs incentivized yield farming opportunities. Boba’s extensible smart contracts will enable developers across the Ethereum ecosystem to build dApps that invoke code executed on web-scale infrastructure such as AWS Lambda, making it possible to use algorithms that are either too expensive or impossible to execute on-chain. We’re building Boba in a way that puts our users and developers first. Our goal is to build a pragmatic L2 that is the first step towards opening Ethereum to the next Billion users.
Long
by BADQOMOCAWGOWLD
1
BTC-FAILURE TO HOLD AND CLOSE ABOVE 42'524 !DAILY (D1 ) Yesterday's price action triggered a LONG WHITE CANDLE which intraday broke briefly the top of the DAILY CLOUDS RESISTANCE AREA (@ 42'524) but failed to hold and more important to close above it ! Today's ongoing price action is, currently showing the level of the BITCOIN, below the bottom of the daily clouds and below the TENKAN-SEN (41'250) too, with a LAGGING LINE which crossed again below the TENKAN-SEN. The 38.2% Fibonacci retracement @ 42'520 of the 37'169-42'592 recent rally has already been filled , intraday low, so far, being @ 42'054. Next support to look at is the psychological 40'000 level ahead of the 50% Fib ret @ 39'880 and then 39'240 (61.8% Fib ret). RSI currently still above the 50 level, @ 51.10 THE DAILY PICTURE IS SHOWING A BROAD TRIANGLE PATTERN IN PROGRESS ! ONLY A SUSTAINABLE MOVE ABOVE 42'524 (daily closing above it !) (TOP OF THE DAILY CLOUDS RESISTANCE AREA) WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS 4 HOURS ( H4) Below the H4 clouds and still above both TENKAN-SEN (40'367) and KIJUN-SEN (39'880) and above the MID BOLLINGER BAND (39'609) RSI @ 54.49 and LAGGING LINE in the H4 clouds and already below the KIJUN-SEN. A failure to hold on H4 closing basis above 40'367 would be the first warning signal, calling for further downside towards 39'880 /39'609. 1 HOUR (H1) Above the H1 very thin clouds support area (39'804-39'294) with the KIJUN-SEN, currently under attack for a downside breakout ! Interesting to note the corroboration between the levels highlighted on the DAILY analysis and those mentioned on the hourly analysis Do you like my analysis and do you find it bring added value on your trading activity ? If YES, please do not forget, firstly to like it and for those who do not follow me yet, please also add IRONMAN8848 on your following list. Last but not least for those who do not have access to TRADING VIEW yet (the best charting application available for the moment :-) please sign up in clicking on the following link : www.tradingview.com Have a nice trading day and all the best. Take care. IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
BTC-MIGHT BE A BOUGHT THE NEWS AND SELL THE FACT...Indeed, a strong recovery took place early in the morning following "a NEWS" and this could be interpreted as a "BUY the news and SELL THE FACT" ! The Bitcoin recovered in short period of time (less than 2 hours !) from 39'400 towards an intraday high so far of 41'896.37, in filling on its way up the 38.2% and the 50 % Fibonacci retracement, respectively @ 40'287 and 41'250. THE MAIN KEY RESISTANCE AND PIVOT LEVEL IN THIS DAILY TIME FRAME REMAINING @ 42'524 WHICH IS THE TOP OF THE DAILY CLOUDS RESISTANCE AREA ! $ As long as this level is not clearly broken, recent and current price action should still be seen as a corrective move only. RSI recovered also above the 50 area and is currently @ 53.67 LAGGING LINE also recovered above the KIJUN-SEN and is currently attempting to cross over the TENKAN-SEN 4 HOURS (H4) The upside breakout of the downtrend line resistance, coupled with the breakout of the MBB, TS and KS triggered this sharp rebound which is currently attempting to hold above the H4 clouds. Watch and monitor carefully the ongoing H4 closing level which will be the first warning signal of a validation or invalidation of the top of the clouds breakout, which also coincides with the 50 % Fibonacci retracement previously mentioned in D1 (downside move from 45'332 towards 37'169) RSI @ 64.96 LAGGING LINE currently above the clouds Interesting to note the "thin layer" of the H4 clouds which means fragility on both sides !!! 1 HOUR (H1) Above the clouds and above MBB, KS and TS. First support in this H1 time frame is the TENKAN-SEN @ 40'192 ahead of the KIJUN-SEN @ 39'943 and the MID BOLLINGER BAND @ 39'352 Interesting also to note that the hourly clouds support area is very, very thin... CONCLUSION : On the downside the psychological 40'000 area should be seen as a pivot level for further development; indeed, a failure to hold sustainably above this level would put again the focus on lower levels (former congestion support 39'000-37'000 area) On the upside , a successful daily closing above 42'524 would force to a view reassessment of the still expected bearish scenario and would open the door for higher levels towards the former high @ 45'332 with intermediate resistance of the ongoing daily downtrend resistance level, currently around 44'800. Last but not least, have also a look at the weekly time frame which is showing a recovery attempt, currently roughly in the middle of the clouds; ongoing weekly candle closing will also be important to look at as it will also validate or invalidate the INVERTED HAMMER PATTERN, I mentioned in my previous analysis ! IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
Bitcoin breaking out looking strong-back above 45k trend changesBitcoin and a lot of the cryptos are looking strong today, I like Bitcoin if it can get back above 45k I would be pretty bullish going forward. On the weekly left chart you can see the higher low trendline with the breakout today. 52k is my price where if it get's above that price I am very confident new highs are coming. Above 60k and it is almost a guarantee. The middle daily chart I really like the candle today, it is very bullish and with holding that trendline I see that key 45k price being tested. The right 4hr chart shows the nice break today above the very important and psychological 40k price. The recent move on Feb 28 and March 1 where price rallied but then hit 45 resistance, I like the chances on it testing and finally breaking it soon.
BYBIT:BTCUSD.PLong
by Dancharles
BTC-WEEKLY-INVERTED HAMMER...WEEKLY (W1) $ Last week price action triggered an INVERTED HAMMER PATTERN, which usually should be seen as a bullish warning signal; nevertheless, in this case, I would remain very cautious before to conclure that the downside pressure is over and we can see a STRATEGIC TREND REVERSAL ; the weekly closing level @ 38'438 was below the TENKAN-SEN ! Indeed, the ongoing weekly price action should validate this Inverted hammer pattern and a sustainable recovery should occur in order to do it; in addition, a failure to hold above the bottom of the clouds on a weekly basis, would invalidated this potential reversal pattern and put further pressure to to downside, calling for lower levels towards the former bottom zone 35'000-33'000. RSI below 50, @ 41.34 LAGGING LINE currently in the middle of the weekly clouds support area. THE STRATEGIC KEY PIVOT LEVEL ON THIS WEEKLY TIME FRAME IS @ 28'600 WHICH SHOULD BE SEEN AS THE MOST IMPORTANT SUPPORT LEVEL !!!! Watch the CLOUDS as the LEADING INDICATOR (37'500-44'000) DAILY (D1) Yesterday's closing level @ 38'438 was the third daily closing level below the daily clouds and below the former downtrend line which became the new support and which has also been broken too. RSI is below 50, @ 43.07 LAGGING LINE is already below the Kijun-Sen and also below the Mid Bollinger Band ! The 61.8% Fibonacci retracement @ 38'528 has been broken on a daily closing basis and the next support level to look at is @ 36'679 (78.6% Fibonacci extension) ahead of the 35'000 area (former uptrend support line). A breakout of the 35'000 support area would put the focus on 34'324 (former intraday low of Feb 24th ahead of the low of 32'950 reached on Jan 24th. In this daily picture, only a sustainable recovery above 40'000 (daily clouds bottom & Mid Bollinger Band) would neutralise temporary this ongoing persisting downside risk !!! LAST BUT NOT LEAST ONLY A RECOVERY ABOVE 42'524 would force to a view reassessment of the expected BEARISH SCENARIO calling for lower levels ! 4 HOURS (H4) Currently below : 1) the clouds 2) the Kijun-Sen 3) the Mid Bollinger Band 4) the Tenkan-Sen RSI below 50 @ 32.42 LAGGING LINE currently in the middle of the H4 clouds ! Watch both Tenkan-Sen (@ 38'646) and the Mid Bollinger Band (@39'430) as the first levels which should be broken to neutralise this ongoing downside rise ! The main resistance area in this 4 hours time frame remains the clouds resistance area between 39'828 and 42'722. Any short term recovery should be seen as a CORRECTIVE MOVE ONLY in a BROAD STRATEGICALLY BEAR TREND and therefore, as already mentioned several times, in my previous analysis, any countertrend exposure should be managed with a strict disciplined approach in applying an appropriate RISK REWARD RATIO which will depend on your TACTICAL TIME FRAME HORIZON ! Watch and monitor closely price action on shorter intraday time frames which will help you to get clues for further development. Have a nice trading week and all the best. Take care. IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1