2021/11/24 07:29 AM – BTCUSD -D1 – ADDITIONNAL BEARISH SIGNAL !

BTCUSD-D1- ADDITIONNAL BEARISH SIGNAL ! by Ironman8848 on TradingView.com

As expected, yesterday’s small recovery has been short lived !!!

Indeed, RSI bearish divergence on H1, triggered a corrective move only, pushing up the BTCUSD towards an intraday high of 57’882, missing to breakout the clouds resistance area on this time frame… (magical clouds :-)…)

In addition, recent price action triggered an other bearish signal : the lagging line crossed under the Kijun-Sen which should be seen as a second warning bearish signal following a first daily closing level (on Nov 22nd), below the double top trigger level of 57’500 !!

So what next ?

No change in my bearish view; current level are roughly in the middle of the daily clouds and I suggest to watch closely at the clouds which will tell you in which direction the BTCUSD will go.

On the upside, the TS @ 58’687 is the first significant resistance level to look at and as long as ww stay below this point, the bearish pressure will remains !

In order to neutralise this ongoing downside price action, we need to see a clear breakout of the psychological 60’000 former support which became now an important resistance level to break on the upside !

On the downside, no secret, watch again the clouds support zone , currently around 53’400 which also coincides with the former uptrend line support (in green).

A failure to hold above 53’400 would directly put the focus on the 50’000 area ahead of the double top technical target @ 46’000

Have a nice trading day.

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