BTC - D1 - CAUGHT BETWEEN MBB AND TENKAN-SEN ...
D1 : Still holding above MBB which remains one of the trend leading indicator with Tenkan-Sen.
Yesterday's price action triggered a "Doji" pattern which confirm indecision and uncertainty.
As long as we hold above MBB, that should be seen as a constructive and consolidation price action
calling for higher levels with renewed focus on recent peak @ 42'000.
On the other hand m a failure to stay above MBB would this time confirm a TREND REVERSAL, an trigger
heavy selling pressure as the mood will move from BULLISH sentiment to a BEARISH one !
Next important supports being 32350 (KS) ahead of the psychological 30'000 area. (interesting to note that
the former low is @ 30261 and the 38.2% Fibonacci retracement @ 29776
Yesterday's price action triggered a "Doji" pattern which confirm indecision and uncertainty.
As long as we hold above MBB, that should be seen as a constructive and consolidation price action
calling for higher levels with renewed focus on recent peak @ 42'000.
On the other hand m a failure to stay above MBB would this time confirm a TREND REVERSAL, an trigger
heavy selling pressure as the mood will move from BULLISH sentiment to a BEARISH one !
Next important supports being 32350 (KS) ahead of the psychological 30'000 area. (interesting to note that
the former low is @ 30261 and the 38.2% Fibonacci retracement @ 29776
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