BTC - D1 - YESTERDAY'S PA TRIGGERED A DOJI SHOOTING STAR !
D1 : Yesterday's price action confirmed the ongoing bearish mode in making a "Doji shooting star" pattern !
More important is the fact that the intraday recovery failed to move above Kijun-Sen @ 34867 and also
MBB @ 35655
Therefore, it is an additional trading session which confirm a downtrend still intact on D1 time frame
Moreover, today's price action is currently below the countertrend line support and a failure to recover
above it on a closing basis today, would add further selling pressure.
My bearish view remains, still having a SELL on rally strategic view and not yet a BUY, except for short term traders
who would like to play intraday volatility with tight stop losses in place.
Strategic targets remains the psychological level of 30'000 ahead of the 38.2% Fibonacci retracement of the big move
3850-42'000.
On the upside only a clear breakout of 34900 Kijun-Sen confirmed by a second breakout of MBB would force to a reassessment
view of my expected bearish scenario.
More important is the fact that the intraday recovery failed to move above Kijun-Sen @ 34867 and also
MBB @ 35655
Therefore, it is an additional trading session which confirm a downtrend still intact on D1 time frame
Moreover, today's price action is currently below the countertrend line support and a failure to recover
above it on a closing basis today, would add further selling pressure.
My bearish view remains, still having a SELL on rally strategic view and not yet a BUY, except for short term traders
who would like to play intraday volatility with tight stop losses in place.
Strategic targets remains the psychological level of 30'000 ahead of the 38.2% Fibonacci retracement of the big move
3850-42'000.
On the upside only a clear breakout of 34900 Kijun-Sen confirmed by a second breakout of MBB would force to a reassessment
view of my expected bearish scenario.