BTC - BEARISH ENGULFING PATTERN CONFIRMEFD !
H4 : Last black candle confirmed the previous engulfing pattern
In addition, closing level was below TS, currently @ 37164
Further downside should follow, calling for a move towards
the next significant support zone of 35646/35471 which is also
the current support trend line which started a couple days ago
@ 29150
H1 : 38.2 % Fib re @ 38226 filled
we may see some recovery attempt which is expected to be pretty limited
Nevertheless, a move above MBB @ 37550 would be the first signal of a recovery
continuation price action
M15 : Former support trend line broken
Likely to see a pullback attempt to this uptrend line support around 37300 which is
also the current level of MBB
A move above 37300 would stabilize the ongoing downside move
M5 : Ongoing recovery attempt has already been rejected by the MBB
Watch MBB ahead of KS as very short term lead indicators for direction
In addition, closing level was below TS, currently @ 37164
Further downside should follow, calling for a move towards
the next significant support zone of 35646/35471 which is also
the current support trend line which started a couple days ago
@ 29150
H1 : 38.2 % Fib re @ 38226 filled
we may see some recovery attempt which is expected to be pretty limited
Nevertheless, a move above MBB @ 37550 would be the first signal of a recovery
continuation price action
M15 : Former support trend line broken
Likely to see a pullback attempt to this uptrend line support around 37300 which is
also the current level of MBB
A move above 37300 would stabilize the ongoing downside move
M5 : Ongoing recovery attempt has already been rejected by the MBB
Watch MBB ahead of KS as very short term lead indicators for direction
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