BTC- SYMETRICAL TRIANGLE IN PROGRESS !
Once again, the magical Fibonacci retracement occured... Indeed, yesterday, the BTC filled its 50% Fibonacci retracement @ 40'340 (which is also by the way the KS and the 21 DMA ! (intraday being slightly higher @ 40'387)
Currently in a SYMETRICAL TRIANGLE IN PROGRESS.
BREAKOUT IMPLICATIONS COULD TRIGGER A MOVE OF + / - 3'099 pts !!!
TARGETING RESPECTIVELY (currently ) :
43'200 TO THE UPSIDE
35'100 TO THE DOWNSIDE
RECOMMENDATION :
WATCH ON A DAILY CLOSING THE POTENTIAL BREAKOUT LEVELS WHICH ARE, FOR TODAY, THE FOLLOWING. :
SUPPORT. : 38'200
RESISTANCE : 40'200
4 HOURS
Magical clouds too,,,
Currently still just above the MA 21 @ 39'400 and the Kijun-Sen @ 39'250
A failure to hold and stay on a 4 hours closing basis above the KS would be the first intraday warning signal, calling for further downside.
Please, also take note that a RISING WEDGE is now alive in this time frame (target 38'700)
1 HOUR (H1)
Currently supported by the hourly clouds support are which has already been tested twice (yesterday and a couple of hours ago today and as the thickness
of the clouds becomes very thin (twist) in a couple of hours, this support area should be seen as very fragile and a next breakout attempt will be difficult to be rejected...
Any comments or suggestions are always more than welcome :-)
Do you like my analysis and you think it bring added value on your trading strategies ?
If the answer is YES, please to like it first and for those who do not follow me yet, please do not forget either to add Ironman8848 in your following list.
Many thanks in advance.
Have a nice trading day.
Regards
IRONMAN8848 - Jean-Pierre Burki
Currently in a SYMETRICAL TRIANGLE IN PROGRESS.
BREAKOUT IMPLICATIONS COULD TRIGGER A MOVE OF + / - 3'099 pts !!!
TARGETING RESPECTIVELY (currently ) :
43'200 TO THE UPSIDE
35'100 TO THE DOWNSIDE
RECOMMENDATION :
WATCH ON A DAILY CLOSING THE POTENTIAL BREAKOUT LEVELS WHICH ARE, FOR TODAY, THE FOLLOWING. :
SUPPORT. : 38'200
RESISTANCE : 40'200
4 HOURS
Magical clouds too,,,
Currently still just above the MA 21 @ 39'400 and the Kijun-Sen @ 39'250
A failure to hold and stay on a 4 hours closing basis above the KS would be the first intraday warning signal, calling for further downside.
Please, also take note that a RISING WEDGE is now alive in this time frame (target 38'700)
1 HOUR (H1)
Currently supported by the hourly clouds support are which has already been tested twice (yesterday and a couple of hours ago today and as the thickness
of the clouds becomes very thin (twist) in a couple of hours, this support area should be seen as very fragile and a next breakout attempt will be difficult to be rejected...
Any comments or suggestions are always more than welcome :-)
Do you like my analysis and you think it bring added value on your trading strategies ?
If the answer is YES, please to like it first and for those who do not follow me yet, please do not forget either to add Ironman8848 in your following list.
Many thanks in advance.
Have a nice trading day.
Regards
IRONMAN8848 - Jean-Pierre Burki
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