BTC - TENKAN-SEN STILL ACTING PERFECTLY WELL ON ALL TIME FRAMES
D1 : Technical targets mentioned in my yesterday's comments have easily been filled with an intraday of 30261.
Nice recovery on a daily closing basis above the Tenkan-Sen, currently @ 34867
Nevertheless, IN ORDER TO NEUTRALISE DOWNSIDE RISK, BTC needs to close today at least above the middle of the long black candle, which would trigger a "Piercing line" or
even better, above the opening of this same black candle which in this case would confirm a "bullish engulfing pattern", calling for higher levels.
Therefore, on a daily basis we have to wait until this evening in order to see how the price action will have performed over the day.
H4 : 50 % Fib ret & Kijun-Sen has been filled (@ 36130), currently trying to recover above the clouds support zone.
H1 : Watch closely at the price action around the clouds which would give more clues about short term price action.
Bullish above the clouds and bearish below
Have a nice day :-)
Nice recovery on a daily closing basis above the Tenkan-Sen, currently @ 34867
Nevertheless, IN ORDER TO NEUTRALISE DOWNSIDE RISK, BTC needs to close today at least above the middle of the long black candle, which would trigger a "Piercing line" or
even better, above the opening of this same black candle which in this case would confirm a "bullish engulfing pattern", calling for higher levels.
Therefore, on a daily basis we have to wait until this evening in order to see how the price action will have performed over the day.
H4 : 50 % Fib ret & Kijun-Sen has been filled (@ 36130), currently trying to recover above the clouds support zone.
H1 : Watch closely at the price action around the clouds which would give more clues about short term price action.
Bullish above the clouds and bearish below
Have a nice day :-)