BTC - D1 - H4 - H1 - MBB ON D1 @ 32455 IS THE KEY PIVOT LEVEL !
D1 : As mentioned yesterday, failure to recover at least above former mid black candle (@ 36810) triggered renewed selling pressure, in putting, overnight the focus on MBB, currently @ 32455
MACD cross UNDER !!!
H4 : Failure to recover and hold above the clouds, in conjonction with a rejection at the 50 % Fibonacci retracement (@ 36130) triggered selling pressure
H1 : Picture is pretty clear, pullback failure from the Jan 11th low @ 30237, rejecting by both 50% Fibonnacci retracement, previously mentioned on H4 and
by the top of the clouds resistance area around the 36'000 level
CONCLUSION :
A failure to hold above the MId Bollinger Band (MBB) would trigger a downside move acceleration in opening the door for 29'000, which is the 50 % Fibonacci retracement of the 16218-42000 recent rally,
ahead of 26'066 (61.8% Fibonacci retracement)
On the upside, no change in my view and only a clear upside breakout of 36810 would force to a view reassessment of the expected bearish scenario, calling for lower levels.
For the time being, BTC remains a SELL on rally on a broad bear trend
MACD cross UNDER !!!
H4 : Failure to recover and hold above the clouds, in conjonction with a rejection at the 50 % Fibonacci retracement (@ 36130) triggered selling pressure
H1 : Picture is pretty clear, pullback failure from the Jan 11th low @ 30237, rejecting by both 50% Fibonnacci retracement, previously mentioned on H4 and
by the top of the clouds resistance area around the 36'000 level
CONCLUSION :
A failure to hold above the MId Bollinger Band (MBB) would trigger a downside move acceleration in opening the door for 29'000, which is the 50 % Fibonacci retracement of the 16218-42000 recent rally,
ahead of 26'066 (61.8% Fibonacci retracement)
On the upside, no change in my view and only a clear upside breakout of 36810 would force to a view reassessment of the expected bearish scenario, calling for lower levels.
For the time being, BTC remains a SELL on rally on a broad bear trend