2021/09/18 06:21 AM – D1- PIVOT LEVEL @ 48’000

BTCUSD – D1- PIVOT LEVEL @ 48’000 by Ironman_8848 on TradingView.com

Good morning, today we are looking at the Daily time frame. 

On this time horizon and on a closing basis, the 48’000 area should be seen as a  pivot level for further development. 

Indeed, an upside breakout confirmation (several failures seen over the last couple of sessions !) will be the first signal for further upside for the upcoming trading sessions. 

Nevertheless, as you can see on this chart, the cluster ( MBB and  KS ) should not be underestimated as it worked almost perfectly well so far, acting and switching from  support area to  resistance area and vice versa. 
Watch also  RSI indicator which is also facing an important level to breakout on the upside. 

Last but not least, the long black candle ( bearish engulfing pattern) triggered on September 7th is still in memory by weighing on the  BTC ; in order to neutralise this,  BTC should recover and hold, on a daily closing basis, at least above the middle (49’800) of this long black candle, which would trigger if achieved a piercing line ! 

On the downside, the first significant  support level is around 46’000 ( KS ) ahead of the daily clouds  support zone . 

CONCLUSION : 

Neutral in the 46’000-48’000 trading range, providing tactical very short term trading which should be protected with tight stop loss (trailing) 

Bullish above 48’000 for 50’000 (psychological  resistance area and also middle of the long black candle above mentioned) 

Bearish below 46’000 for a retest of former low 42’900-43400 

UPCOMING WEEKLY CLOSING LEVEL WILL ALSO BE IMPORTANT TO LOOK AT ! 

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Have a great weekend, have fun and take care. 
All the best to all of you 

Many thanks in advance 🙂 

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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