2022/01/14 10:39 AM – BTCUSD – D1/H4 – ONGOING DOWNTREND !

BTCUSD-D1/H4-ONGOING DOWNTREND… by Ironman8848 on TradingView.com

DAILY (D1)

1. Below the clouds
2. Below both Kijun-Sen and Mid Bollinger Band
3. Yesterday’s candle triggered a BEARISH ENGULFING PATTERN

but… slightly above the Tenkan-Sen or Conversion line, currently @ 42′ 007 (as James Bond 🙂

Last, but not least the Chikou-Span or Lagging line is currently showing a sideways trading range, far away below the clouds and TS and KS .

Watch on the downside the secondary downtrend line which, currently coincides roughly with the Tenkan-Sen above mentioned aheadof the former low reached a couple days ago @ 39’558.70 with; below the former primary downtrend resistance line which became the new support from the recent corrective recovery.

On the upside, watch MBB (@ 45’077) as the first warning signal ahead of the most important one, which is the Kijun-Sen @ 45’828.

Only a clear breakout of those two levels, on a daily closing basis, would neutralise the current ongoing downside move.

RSI @ 37.43 below the 50 level

4 HOURS (H4)

Former upside channel broken and 2 successve failure to breakout the clouds triggered a new selling pressure which pushed the BTCUSD down towards the bottom of the 4 hours clouds support zone .

Currently below TS and MBB and still above the Kijun-Sen (@ 42’000)

A clear breakout of the 42’000 on this time frame would be the first signal which, if confirmed by a daily closing below this level too, would corroborate the view, calling for further downside.

RSI @ 47.25

Watch shorter time frames H1 and M15 to get early signal (s) which would validate or invalidate the implications previously mentioned.

Ironman8848 & Jean-Pierre Burki

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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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