D1 : Looking at the Thursday, Friday and Saturday
candles we can see the following :
1) Thursday's candle shows a test of the bottom of the clouds @ 52'379
2) Friday's candle shows a sharp and strong reversal pattern (long white candle) with its closing above the clouds
3) After having filled the 61.8% Fib ret @ 58'060 (intraday high @ 58'549) a "DOJI" pattern took place on a closing basis
Today's ongoing pattern is showing a "potential" reversal price action; the MID BOLLINGER BAND has already been tested and should,
as already mentioned several times, be considered as one of the best LEADING INDICATOR,
Therefore, a daily closing below 56'286 would would give an additional support for this ongoing trend reversal.
Below :
S1 : 55'949
S2 : 53'838
On the upside, in order to neutralise this ongoing downside risk, BTC needs to close today , first of all :
1) above the Mid Bollinger Band
and secondly :
2) above the clouds
Watch shorter time frames to get clues.
Have a nice Sunday
All the best and take care
Ironman8848
candles we can see the following :
1) Thursday's candle shows a test of the bottom of the clouds @ 52'379
2) Friday's candle shows a sharp and strong reversal pattern (long white candle) with its closing above the clouds
3) After having filled the 61.8% Fib ret @ 58'060 (intraday high @ 58'549) a "DOJI" pattern took place on a closing basis
Today's ongoing pattern is showing a "potential" reversal price action; the MID BOLLINGER BAND has already been tested and should,
as already mentioned several times, be considered as one of the best LEADING INDICATOR,
Therefore, a daily closing below 56'286 would would give an additional support for this ongoing trend reversal.
Below :
S1 : 55'949
S2 : 53'838
On the upside, in order to neutralise this ongoing downside risk, BTC needs to close today , first of all :
1) above the Mid Bollinger Band
and secondly :
2) above the clouds
Watch shorter time frames to get clues.
Have a nice Sunday
All the best and take care
Ironman8848
