BTC - D1 - H4 - H1 : Tenkan-Sen remains the leading indicator...
D1 : From the peak around 42'000, 3 successives black candles confirmed a trend reversal !
More important Tenkan-Sen, which I mentioned several times, should be seen as the leading indicator is tested and under attack
A failure to recover and hold above it would trigger further downside selling pressure, openning the door for the 32000 area (32151 being the 38.2% Fibonacci retracement of the rally from 16218 torwards the peak !
Below the MBB (currently @ 31355) is the next support to watch at very carefully as you can see in the past.
H4 : Breakout of the MBB triggered a strong downside move (Both Tenkan-Sen and Kijun-Sen broken !!)
Clouds support area... for the time being hold and rejected downside breakout on a H4 closing basis
H1 : Failure to hold above the clouds triggered a first sharp selloff, then pullback towards the clouds again, failure to recover above the clouds and second selloff
Conclusion : watch carefully Tenkan-Sen and MBB on all time frames ! Bullish above and Bearish below
More important Tenkan-Sen, which I mentioned several times, should be seen as the leading indicator is tested and under attack
A failure to recover and hold above it would trigger further downside selling pressure, openning the door for the 32000 area (32151 being the 38.2% Fibonacci retracement of the rally from 16218 torwards the peak !
Below the MBB (currently @ 31355) is the next support to watch at very carefully as you can see in the past.
H4 : Breakout of the MBB triggered a strong downside move (Both Tenkan-Sen and Kijun-Sen broken !!)
Clouds support area... for the time being hold and rejected downside breakout on a H4 closing basis
H1 : Failure to hold above the clouds triggered a first sharp selloff, then pullback towards the clouds again, failure to recover above the clouds and second selloff
Conclusion : watch carefully Tenkan-Sen and MBB on all time frames ! Bullish above and Bearish below
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