2021/11/19 07:19 AM – BTCUSD -D1 – LOW SO FAR 53’760…

BTCUSD – D1 – LOW SO FAR 53’760… by Ironman8848 on TradingView.com

As expected the ongoing downside selling pressure, firstly broke the double top trigger level (@ 57’500) and more important close below it.
This breakout triggered an acceleration which pushed the BTCUSD sharply down towards an intraday low so far of 53’760, close to the bottom
of the clouds support which once again worked perfectly well as an important level to break!!!

So what next ?

As already mentioned, the train is gone, but between point A and point B there are some “STOPS” and it is normal to see some recovery withinthis ongoing daily & weekly price action, which should still be seen only as a corrective move and not as a trend reversal yet…

Daily target is @ 46’000, which is the double top technical target. Only a sustainable recovery above firstly 57’500 and more important 60’000 would forceto a view reassessment of my expected bearish scenario.

INTRADAY :


On shorter time frames ( ie 1 hour), bullish divergence has been detected which triggered a small recovery which is likely to be very limited on the upside.

I will post straight away a specific technical analysis on this 1 hour time frame.

WEEKLY :


Ongoing bearish engulfing pattern in progress (should, of course, be confirmed on a weekly closing !!; TS @ 54’295 has been tested and has for the time being rejected the downside breakout attempt.

All the best

Take care

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. 

Other Asset Classes