2021/11/01 06:01 AM – BTCUSD – W1 – SHOOTING STAR + DOJI !

BTCUSD – W1 – SHOOTING STAR + DOJI ! by Ironman8848 on TradingView.com

WEEKLY (W1)


Prior week a “SHOOTING STAR” had been triggered which has been followed, last week by a “DOJI” which is adding further pressure to the downside as an uncertainty and indecision is growing…

So what next ?


Well, in looking in this weekly picture, the first significant support level @ 58’100 has been tested with an intraweek low seen last week @ 57’500.


As long as the BTCUSD stays on a weekly closing above 58’100, it is OK for a the time being.


A CLEAR BREAKOUT OF 58’100 WOULD PUT THE FOCUS ON THE 53’200-52’300 TRADING RANGE !!!


Interesting to note that the top of weekly clouds support area is around 43’300 which is also the 61.8 % Fibonacci retracement of the 28’600-66’994, June-October rally.


DAILY (D1)


Looking briefly at the daily picture, the ongoing downtrend channel is intact, and levels to watch in this time frame are the following :


UPSIDE : 63’000


DOWNSIDE : 60’000


A daily closing level, either above 63’000 or below 60’000 would open potentially the door for a 4’000 points move, targeting respectively a retest of former high around 67’000 and a move towards 56500/56’000 on the downside.

4 HOURS (H4)


Watch the clouds !

Have a great week.
Take care and all the best.

Ironman8848

Disclaimer :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

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