2021/09/16 06:50 AM – D1/H4 – PIVOT LEVEL !

BTCUSD – D1/H4 – PIVOT LEVEL ! by Ironman_8848 on TradingView.com

Good morning, today we are going to look closely at 2 important time frames. 
D1 and H4 
Let’s begin with D1 : 
The  pivot level to consider in that time frame remains @ 47’928 ! (see related ideas below). 
Indeed, on one hand an upside breakout of this level would temporary neutralise the ongoing downside risk and 
open the door for higher levels, calling for the 50’000 psychological as first target. Nevertheless, do not forget 
the long black candle ( bearish engulfing pattern) which took place on September 7th and which still remember 
that we are not out of the woods yet and in order to confirm a trend reversal,
  BTCUSD should recover and hold 
at least, above 50’800 (half of the  bearish engulfing pattern) which would trigger a piercing line pattern or even better 
above 52’720 (former high D1 closing) which if it is the case would trigger a  Bullish engulfing pattern, more than powerful 
that the piercing line.  
On the downside, a failure to stay and hold above 47’100 on a D1 closing basis would trigger a  bearish engulfing pattern which 
should be see as the first warning, calling for a trend reversal with a first target @ 45’932 (roughly the top of the daily clouds support !!! 
Let’s continue with H4 : 
Breakout attempt of the clouds resistance is in progress and should be validated which has not been achieved so far ! First significant support on this time frame is @ 47’406. This level should be watch at very carefully on this H4 time frame. Indeed, a failure to hold 
above 47’406 (on a closing level) would put directly the focus on 46’274 ( MBB ) ahead of 45’932 ( KS ); interesting to note that the 3 levels mentionedcoincides roughly with the H4 clouds support zone . (D1 potential target also @ 45’932) 
CONCLUSION :
 
Watch 47’928 on a daily closing basis as the  PIVOT POINT on this time frame,  BULLISH above and  BEARISH below !!! 
Watch also shorter intraday time frames (H1 to 15M) to detect early signal (s) which will validate or invalidate expected scenarios above mentioned and therefore, allow you to act accordingly. 
Finally check carefully Lagging line price action on H4, currently above the clouds (thin resistance !!) 
Have a nice day, all the best and 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. 

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