BTC - H1/M15 - TENKAN-SEN CROSS OVER KIJUN-SEN !
H1 : As mentioned yesterday, a potential bullish divergence should not be overlooked !
Indeed, a bullish divergence took place and triggered a recovery, reaching the 50% Fib ret @ 54'439.
A "weak" BUY signal has been detected but from current levels, the upside potential looks pretty limited,
possible, towards the clouds resistance area (61.8% Fib ret around the top of the clouds !)
M15 : The H1 bullish divergence @ 52'379 has been confirmed by a long white candle (bullish engulfing)
which put the BTC in a uptrend channel, facing a first resistance area (clouds), staying for a while in the clouds
and then breakout on the upside.
Currently in the lower part of the bullish channel (below the middle line)
Technical indicators looks tired and are showing some reversal signs
CONCLUSION :
As already mentioned, due to the high volatility seen on the BTC, it is absolutely crucial to monitor very carefully
very short term time frames in order to catch early signs of reversal in one way or the other !!!
Indeed, a bullish divergence took place and triggered a recovery, reaching the 50% Fib ret @ 54'439.
A "weak" BUY signal has been detected but from current levels, the upside potential looks pretty limited,
possible, towards the clouds resistance area (61.8% Fib ret around the top of the clouds !)
M15 : The H1 bullish divergence @ 52'379 has been confirmed by a long white candle (bullish engulfing)
which put the BTC in a uptrend channel, facing a first resistance area (clouds), staying for a while in the clouds
and then breakout on the upside.
Currently in the lower part of the bullish channel (below the middle line)
Technical indicators looks tired and are showing some reversal signs
CONCLUSION :
As already mentioned, due to the high volatility seen on the BTC, it is absolutely crucial to monitor very carefully
very short term time frames in order to catch early signs of reversal in one way or the other !!!
הערה:
And on the downside a failure to stay and hold above 54'250 would open the door for the clouds zone (54000-53400) which also coincides with the former H1 cluster area...
Looking at the development in M15, the uptrend channel has been broken and the Mid Bollinger Band has already been tested twice.
Watch carefully upcoming price action in M15 in monitoring closely MBB & Kijun-Sen on the downside and the base of the former uptrend channel & Middle line !
A sustainable move above 55'000 would force to a view reassessment on very short term perspective.
Good luck