H1 : Failure to recover above the ongoing downtrend line resistance triggered
selling pressure which pushed down, currently, the BTC below the Mid Bollinger Band.
For the time being the 23.6% Fib ret @ 57701 has been filled; next significant support
is @ 57270 (38.2 % Fib ret & top of the clouds support zone and the base of the ongoing
uptrend channel).
Interesting to note that the clouds support zone is between the 38.2% and the 61.8%
Fib ret of the last (55441-58400) rally.
WATCH THE CLOUDS :-)
On the upside, in order to neutralise the ongoing downside risk, BTC needs to clearly breakout
and hold above the 58400 area !
M15 : Currently below the Mid Bollinger Band and the clouds too.
Watch carefully ongoing very short term price action as a failure to hold above former lows (potential double bottom @ 57657)
should trigger a downside acceleration move, calling for 57270, ahead of 57000/56500
selling pressure which pushed down, currently, the BTC below the Mid Bollinger Band.
For the time being the 23.6% Fib ret @ 57701 has been filled; next significant support
is @ 57270 (38.2 % Fib ret & top of the clouds support zone and the base of the ongoing
uptrend channel).
Interesting to note that the clouds support zone is between the 38.2% and the 61.8%
Fib ret of the last (55441-58400) rally.
WATCH THE CLOUDS :-)
On the upside, in order to neutralise the ongoing downside risk, BTC needs to clearly breakout
and hold above the 58400 area !
M15 : Currently below the Mid Bollinger Band and the clouds too.
Watch carefully ongoing very short term price action as a failure to hold above former lows (potential double bottom @ 57657)
should trigger a downside acceleration move, calling for 57270, ahead of 57000/56500
Watch carefully at the next H1 closing level which should be at least above 58400 in order to neutralise the downside risk which should not be forgotten !