2021/09/15 06:48 AM – D1 – WATCH CLUSTER @ 47’900 !

BTCUSD – D1 – WATCH CLUSTER @ 47’900 ! by Ironman_8848 on TradingView.com

Good morning, today we are going to look at the daily picture which yesterday, on a closing basis, triggered 
a  bullish engulfing pattern. 
Indeed, as mentioned in my previous analysis (see related ideas below) I highlighted, the importance of the clouds 
support zone on this D1 time frame and you can see the confirmation on the chart. 
Clouds once again worked perfectly well, this time as a  support zone which triggered this recovery seen yesterday. 
So what next ? 
Despite this nice yesterday’s move,  BTCUSD remains under the influence of this long  bearish black candle of Sept 7th with 
a very strong  resistance area (cluster around 47’900 which should be clearly broken on a daily closing).
 
As long as this cluster is not broken, the pressure remains on the downside, we are currently facing a minor resistance which was 
the former congestion bottom seen over a couple days at the end of August. 
IMPLICATIONS : 
1) On the upside, a sustainable move above the cluster of 47’900 should be seen as a first warning signal which would neutralise the ongoing  
downside risk and open the door first for the psychological 50’000 level ahead of former high @ 52’956 
2) On the downside, a failure to stay and hold above 46’000 on a closing basis would trigger a dark cloud clover and put the focus once again 
on the daily top clouds  support area , currently @ 45’000 
CONCLUSION : 
Watch shorter time frames : 
On H4, currently trying to breakout the clouds  resistance area and on H1 there is a  bearish divergence which has been confirmed; on H1 watch at 
46’900 ahead of 46’700 ( MBB )
 of a warning confirmation for a reversal calling potentially for a return towards 46’250 and a failure to hold above this level 
would directly put the focus on the 45’000 area, daily target on the downside ! 
Have a great day and 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. 

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