BTC-H4-DOUBLE TOP @ 39'552 FILLED !
4 HOURS (H4)
The double top target @ 39'552 has been filled with an intraday low @ 39'450, roughy also filled the 50% Fibonacci retracement @ 39'400 mentioned
in my previous analysis.
No bullish divergences detected so far !
Lagging line below the clouds too.
RSI below 50, @ 34.09
Nevertheless, after this nice decline, it is likely, on short term to see and this is what currently is happening, some short term corrective recovery which is expected to be pretty limited in this broad
bearish strategic structure.
Indeed, looking ahead, the Tenkan-Sen @ 40'338 in this H4 time frame, is the first resistance level to look at on a H4 closing basis as a sustainable move above this level would open the door for higher levels
towards R2 @ 41'487 ahead the pivot level on H4 @ 42'117.
A successful recovery above 42'117 (H4 closing basis) would put the focus (once again...) to the CLOUDS RESISTANCE AREA (42750-43'500) interesting to note that 42'747 is the 61.8% Fib ret of the last downside move
starting @ 44'785 towards 39'450.
DOWNSIDE :
A successful breakout of the 39'400, as already mentioned in my previous analysis would directly put the focus on the next support level, which is 37'877 (very fragile zone between 39'400 and 37'877-mirror effect of the long white candle seen during the trading session
of February 4th, and ahead of 37'510 (78.6 % Fibonacci retracement extension)
DAILY (D1)
The DAILY CLOUDS, for the time being rejected the downside breakout attempt and for now the levels to watch on this daily picture are, ONCE AGAIN THE CLOUDS, respectively and currently :
UPSIDE : 42'525
DOWNSIDE : 39'500
A BREAKOUT OF ONE OF THOSE LEVEL ON A DAILY CLOSING BASIS WILL CONFIRM THE DIRECTION FOR THE UPCOMING DAILY TRADING SESSIONS !!!
As usual, watch and monitor closely, intraday shorter time frames to get clues which will validate or invalidate scenarios implications previously explained.
Have a nice Saturday and take care
Ironman8848. & Jean-Pierre Burki
The double top target @ 39'552 has been filled with an intraday low @ 39'450, roughy also filled the 50% Fibonacci retracement @ 39'400 mentioned
in my previous analysis.
No bullish divergences detected so far !
Lagging line below the clouds too.
RSI below 50, @ 34.09
Nevertheless, after this nice decline, it is likely, on short term to see and this is what currently is happening, some short term corrective recovery which is expected to be pretty limited in this broad
bearish strategic structure.
Indeed, looking ahead, the Tenkan-Sen @ 40'338 in this H4 time frame, is the first resistance level to look at on a H4 closing basis as a sustainable move above this level would open the door for higher levels
towards R2 @ 41'487 ahead the pivot level on H4 @ 42'117.
A successful recovery above 42'117 (H4 closing basis) would put the focus (once again...) to the CLOUDS RESISTANCE AREA (42750-43'500) interesting to note that 42'747 is the 61.8% Fib ret of the last downside move
starting @ 44'785 towards 39'450.
DOWNSIDE :
A successful breakout of the 39'400, as already mentioned in my previous analysis would directly put the focus on the next support level, which is 37'877 (very fragile zone between 39'400 and 37'877-mirror effect of the long white candle seen during the trading session
of February 4th, and ahead of 37'510 (78.6 % Fibonacci retracement extension)
DAILY (D1)
The DAILY CLOUDS, for the time being rejected the downside breakout attempt and for now the levels to watch on this daily picture are, ONCE AGAIN THE CLOUDS, respectively and currently :
UPSIDE : 42'525
DOWNSIDE : 39'500
A BREAKOUT OF ONE OF THOSE LEVEL ON A DAILY CLOSING BASIS WILL CONFIRM THE DIRECTION FOR THE UPCOMING DAILY TRADING SESSIONS !!!
As usual, watch and monitor closely, intraday shorter time frames to get clues which will validate or invalidate scenarios implications previously explained.
Have a nice Saturday and take care
Ironman8848. & Jean-Pierre Burki
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