BTC - KEY PIVOT LEVEL @ 43'380 (ON W1 CLOSING !)
M1 : Recovery attempt in progress
W1 : KEY PIVOT LEVEL @ 43'380 (Kijun). Pullback in progress towards the former uptrend support line !
D1 : Attempting to breakout the 40'000 without great success for the time being, still below the clouds !
H4 : Recent pullback towards a high of 41'341, has been rejected from the former support trend line (in green): as a result, BTC is now
below Tenkan-Sen and has already tested the former top level around 39'500 ! A failure to hold sustainably above
39'500 would be the first warning of a confirmation of a top in place, calling for lower levels towards the MBB, currently
@ 38917 which should be seen as a good barometer for further development. Below next significant support is @ 38'062 (50% Fib ret
and Kijun). A breakout of the former high @ 41'341 would open the door for the W1, key pivot level @ 43'380
H1 : Watch the clouds support area on the downside and former high on the upside
M30 : Watch the clouds for direction
M15 : Sideways price action
M5 : Triangle breakout on the upside in progress. Watch upcoming period for validation or invalidation of this pattern
Have a nice trading day
All the best and take care
Ironman8848
W1 : KEY PIVOT LEVEL @ 43'380 (Kijun). Pullback in progress towards the former uptrend support line !
D1 : Attempting to breakout the 40'000 without great success for the time being, still below the clouds !
H4 : Recent pullback towards a high of 41'341, has been rejected from the former support trend line (in green): as a result, BTC is now
below Tenkan-Sen and has already tested the former top level around 39'500 ! A failure to hold sustainably above
39'500 would be the first warning of a confirmation of a top in place, calling for lower levels towards the MBB, currently
@ 38917 which should be seen as a good barometer for further development. Below next significant support is @ 38'062 (50% Fib ret
and Kijun). A breakout of the former high @ 41'341 would open the door for the W1, key pivot level @ 43'380
H1 : Watch the clouds support area on the downside and former high on the upside
M30 : Watch the clouds for direction
M15 : Sideways price action
M5 : Triangle breakout on the upside in progress. Watch upcoming period for validation or invalidation of this pattern
Have a nice trading day
All the best and take care
Ironman8848
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