Ironman8848

Ironman8848

Breakout of the double bottom tregger level @ 1’919…in great progress See my previous analysis below Ironman8848 & Jean-Pierre Burki

Ironman8848

As expected and mentioned in my previous analysis, the recovery attempt has been short lived and the failure to recover above the 39'000 area triggered a new wave of selling pressure which pushed sharply down the BTC towards an intraday low of 34'324 !!! After this sharp decline, it is likely to see some little recovery which, in this broad bearish strategic...

Ironman8848

WEEKLY (W1) Gold still under the influence of a potential double bottom still in progress and very close to its trigger level @ 1'919. Lagging line far above the clouds. A BREAKOUT CONFIRMATION OF 1'919 WOULD OPEN THE DOOR FOR A TECHNICAL TARGET @ 2'161. Watch carefully price action around this important KEY PIVOT LEVEL (breakouts are usually followed by a...

Ironman8848

DAILY (D1) The BTC is currently below : 1) the weekly clouds 2) the daily clouds still slightly above the monthly clouds bottom, currently @ 36'061. Yesterday's closing level @ 37'076, below the 61.8% Fibonacci retracement (37'877) ! Persisting selling pressure which is likely to push the BTC lower towards the next support level around the 37'000 area...

Ironman8848

WEEKLY (W1) Ongoing downside price action, close to the former low of 13'706 reached in January ahead of the first technical target I am still calling for @ 12'894 (see my previous analysis), which is the 38.2% Fibonacci retracement of the big rally (6'628.75 - 16'767.50) A move towards this level would confirm a downside breakout of the clouds bottom...

Ironman8848

WEEKLY (W1) The 61.8% Fibonacci retracement @ 37'877 has roughly been filled with an intraday reached yesterday 37'974... Nevertheless, global picture remains heavy ! Indeed, last week price action triggered a LONG BLACK CANDLE with its closing level nearly at its bottom which is usually a bearish confirmation of the ongoing trend. In addition, the...

Ironman8848

DAILY (D1) Yesterday's price action (DOJI) is confirming this ongoing persisting downside move ! Indeed, the expected short term recovery has been short lived, providing better selling opportunity. The BTC nearly filled the 50% Fibonacci retracement @ 39'400 /intraday low being so far @ 39'492 and global picture remains heavy. Interesting to look at the...

Ironman8848

4 HOURS (H4) The double top target @ 39'552 has been filled with an intraday low @ 39'450, roughy also filled the 50% Fibonacci retracement @ 39'400 mentioned in my previous analysis. No bullish divergences detected so far ! Lagging line below the clouds too. RSI below 50, @ 34.09 Nevertheless, after this nice decline, it is likely, on short term to...

Ironman8848

DAILY (D1) Yesterday's price action triggered a long black bearish candle which went (as expected,see my previous analyisis) down towards the clouds bottom support level @ 40'088 ! BTC is currently below : 1) the Tenkan-Sen or Conversion line (TS) 2) the Mid Bollinger Band (MBB) 3) the ongoing former uptrend support line (in green) Nevertheless, still above...

Ironman8848

Looking at the DAILY picture, a "Diamond" pattern is in progress and is currently trying to upside breakout the downtrend resistance line of this bullish pattern. Last but not least, the Kijun-Sen or Base line also coincides with the upside breakout level of this Diamond pattern, which if broken would also give, an additional confirmation signal, calling for...

Ironman8848

DAILY (D1) Yesterday's price action on one hand, above the cluster of TS (14'549) and MB (14'570) but..be careful, the shape of the yesterday's candle ( a doji hanging man , is a warning reversal signal which is also validated by the pullback failure to recover and hold above the former uptrend support line (in green) Indeed, today's ongoing price action is...

Ironman8848

WEEKLY (W1) In a broading sideways price action (1677-1919) and under the influence of a DOUBLE BOTTOM IN PROGRESS ( see related ideas below) Currently above the clouds with a Lagging line above the clouds too ! Global weekly picture is positive, calling for a test of the former high @ 1'919 which should be seen as a KEY PIVOT LEVEL for the next...

Ironman8848

4 HOURS (H4) Recent price action is showing that, for the time being the top clouds support area (43'325), rejected two successive breakout attempts (43'312 and 43'367) with its H4 closing level, respectively @ 43'650, but directly neutralised by the next white long candle (bullish engulfing pattern) with a failure of confirmation on this potential ongoing...

Ironman8848

4 HOURS (H4) Above the 4 hours clouds, supported by the ongoing H4 uptrend support line and currently under the new downtrend resistance line. Watch : Upside : former high @ 44'785 Downside : ongoing support trend line (currently around 43'650 which is also the top of the 4 hours clouds. A breakout of one of those 2 levels will show further direction RSI...

Ironman8848

Following the sharp decline (-30.85 %), since the ATH @ EUR 1678.00 reached on December 1st, 2021, the price action triggered an HAMMER (reversal pattern) coupled with a RSI BULLISH DIVERGENCE, which is a first positive signal calling for a trend reversal towards higher levels. Important to also note that a potential DOUBLE BOTTOM is in progress (first bottom...

Ironman8848

DAILY (D1) After having reached, yesterday an intraday low @ 41'575, the BTC recovered to close @ 42'077 in making a "small" BULLISH ENGULFING pattern. Ongoing price action is showing a first important resistance to break, which is the TENKAN-SEN or Conversion Line @ 43'712 and this, of course on a daily closing basis ! Looking on the downside, the BTC, in...

Ironman8848

WEEKLY (W1) Following the breakout which occured a couple of weeks ago, we can identify a sideways/up consolidation price action. Indeed, a natural pullback took place which has been rejected by the former downtrend line resistance which became now the new support area (currently around 1.67 %) and slightly below the Tenkan-Sen (@ 1.7080 %) which should be seen...

Ironman8848

WEEKLY (W1) Failure of the upside breakout of the weekly clouds triggered a SHOOTING STAR (reversal pattern !) ! In addition, the last weekly closing level @ 42'077 was also below the Tenkan-Sen (42'524) which is also an additional bearish signal calling for a trend reversal towards the bottom of the clouds and potentially lower. Next support to look at in...