D1 : Last 2 trading sessions is showing a switch from a BULL mode to a BEAR one.
Indeed, looking at the last 2 closing sessions we can see 2 black candles with
the one of yesterday, closing "timidly" just above Tenkan-Sen (conversion line).
Today's ongoing price action is currently under that level, in having already tested
the secondary uptrend support line.
A new downtrend line (in red) took place and should now, be seen as the level
to break in order to neutralise the current ongoing bearish move; interesting to note
that, the resistance area to break, coincides roughly with the former D1 closing high @ 57500
reached on Feb 21st.
50 % Fib ret (43021-61781) @ 52401 !
CONCLUSION :
In D1 time frame, as long as BTC does not recover and hold above 57500, global picture
should be seen BEARISH.
A failure to hold above both Kijun-Sen (Base line) @ 52401 ahead of Mid Bollinger Band (Leading indicator)
@ 51908 would confirm further downside in opening the door for the 50000 psychological support...which is
also roughly the 61.8 % Fibonacci retracement of the 43021-61781 rally (@50187).
Have a nice trading day.
All the best and take care
Ironman@8848
Indeed, looking at the last 2 closing sessions we can see 2 black candles with
the one of yesterday, closing "timidly" just above Tenkan-Sen (conversion line).
Today's ongoing price action is currently under that level, in having already tested
the secondary uptrend support line.
A new downtrend line (in red) took place and should now, be seen as the level
to break in order to neutralise the current ongoing bearish move; interesting to note
that, the resistance area to break, coincides roughly with the former D1 closing high @ 57500
reached on Feb 21st.
50 % Fib ret (43021-61781) @ 52401 !
CONCLUSION :
In D1 time frame, as long as BTC does not recover and hold above 57500, global picture
should be seen BEARISH.
A failure to hold above both Kijun-Sen (Base line) @ 52401 ahead of Mid Bollinger Band (Leading indicator)
@ 51908 would confirm further downside in opening the door for the 50000 psychological support...which is
also roughly the 61.8 % Fibonacci retracement of the 43021-61781 rally (@50187).
Have a nice trading day.
All the best and take care
Ironman@8848
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.