Ironman8848

Ironman8848

4 HOURS (H4) The expected consolidation is in progress with a potential short term double top pattern in progress too. Indeed, the trigger level of this potential formation is @ 46'897 and a failure to hold on H4 closing basis above that level would open the door for 45'560 which would be in line which what I mentioned in my previous analysis published...

Ironman8848

DAILY (D1) Price action seen over the last couple of days should be seen as constructive for further upside. Indeed, 1) the breakout of the TRIANGLE PATTERN by a long white bullish candle 2) Next candle closing above the previous closing So after, having reached an intraday high above 48'000 yesterday, @ 48234, we may see some correction, like a pullback...

Ironman8848

WEEKLY (W1) Last week price action triggered a LONG WHITE BULLISH CANDLE which broke up and close @ 2.5890 on a weekly basis above the former high @ 2.5160 reached a year ago in March 2021. RSI @ 70.85 is not converging therefore there is a potential BEARISH DIVERGENCE IN PROGRESS ! On the other hand, the LAGGING LINE is far away above the TS, KS and the...

Ironman8848

WEEKLY (W1) Last week price action triggered a LONG WHITE CANDLE , usually a BULLISH SIGNAL with its weekly closing level (@ 46'864) for the first time, since the beginning of 2022, above the WEEKLY CLOUDS TOP ZONE (@ 45'937) and also the MID BOLLINGER BAND (45'505). RSI above 50 @ 53.21 and the LAGGING LINE above the weekly clouds with still the...

Ironman8848

Today, we are going to look at the hourly time frame which is showing a sideways price action between the former high @ 45'<37 and the bottom of the hourly clouds support zone, currently @ 43'900. RSi above 50, @ 54.58. LAGGING LINE is looking tired, also moving in a sideways mode. Currently below the Tenkan-Sen (44'765) and still slightly above both...

Ironman8848

On the 4 hours chart, there are 2 levels to watch at carefully which are the following : UPSIDE. : 45'200 DOWNSIDE : 43'000 Indeed, a sustainable breakout of one of those 2 levels, would : 1) either confirm further upside (in breaking the former high @ 45'137 which would open the door for higher levels towards the top of the weekly clouds area,...

Ironman8848

As mentioned in my yesterday's analysis,(RSI bearish divergence), the successful breakout of the former high @ 43'492 triggered further upside move towards, as expected, a high so far above the 45'000 area, with an intraday high so far 45'137. We can see on this DAILY chart to different patterns : 1) A BROAD TRIANGLE PATTERN (currently attempting to...

Ironman8848

Today, we are going to look at the 240 minutes chart where a RSI BEARISH DIVERGENCE has been identified. In addition to this signal, a potential double top formation is also in progress with its trigger level @ 41'779, just above the level of 41'705 I mentioned to watch yesterday on my DAILY ANALYSIS. So watch now carefully ongoing price action in shorter time...

Ironman8848

Sharp recovery seen yesterday-long white candle, (intraday high @ 43'337) with a daily closing @ 42'393. So what next ? Watch and monitor carefully ongoing price action and especially today's closing level ! Indeed, a failure to close above 41'705 (middle level of yesterday's long white bullish candle) would trigger a DARK CLOUD COVER (potential reversal...

Ironman8848

WEEKLY (W1) Last week price action, long white candle, could be seen, as first glance as a positive signal, in this time frame. The only negative point is that the BTC did not manage to recover above the high of the previous week (42'592) !. indeed the high seen was slightly lower @ 42'405 Therefore, this failure is still confirming the STRATEGIC BEARISH...

Ironman8848 Updated 

Today we are going to look carefully at the price action on the 4 hours chart which can validate or invalidate further upside as the BTC is facing an important resistance area to break on a DAILY BASIS (42'500),last closing being just below this level @ 42'235. So, this 4 hours time frame is showing 2 important things : 1) a double top in progress with its...

Ironman8848

WEEKLY (W1) The high of previous week @ 42'592 has nearly been retested again with a high reached yesterday @ 42'362 A weekly closing level above 42'592 would neutralise the downside risk in that time frame and increase the chance for a STRATEGIC TREND REVERSAL ! DAILY (D1) Yesterday's price action between the cluster support(40'200-39'800) with a...

Ironman8848

WEEKLY (W1) Still in the weekly clouds roughly in the middle of it and still above the TENKAN-SEN (@ 39'400) which should be watch carefully on the next weekly closing level. Indeed, a failure to close above it would put the focus again to the bottom of the clouds around 37'600 (former congestion support on daily chart) DAILY (D1) Daily clouds still in...

Ironman8848

WEEKLY (W1) Ongoing recovery attempt, currently roughly in the middle of the weekly clouds and above the Tenkan-Sen @ 39'400 A next weekly closing above 39'40O should be seen as a positive signal in this weekly time frame. DAILY (D1) Yesterday's price action triggered a long white candle which reached an intraday high @ 41'694 BUT CLOSED BELOW THE TOP...

Ironman8848

DAILY (D1) Yesterday's price action, triggered a long white candle, which, usually is a BULLISH signal... but the failure to cross over and close above the CLUSTER (39'700-39'900 area) triggered new selling pressure which once again cross underthe ongoing daily support trend line, currently around 39'300 ! Interesting to note that the CLUSTER , also coincides...

Ironman8848

WEEKLY (W1) Weekly closing @ 37'790 just slightly above the weekly clouds support level @ 37'516. We, very often, hear "jamais 2 sans 3" and we saw the third weekly candle closing, in a row, above the bottom of the weekly clouds support area... Ongoing price action is showing a recovery attempt within the clouds and in this weekly time frame, we have to...

Ironman8848

On the DAILY TIME FRAME , the 2 levels to watch at and monitor carefully still the same than yesterday : 1) ON THE DOWNSIDE : 38’244 (Former recent intraday low) 2) ON THE UPSIDE : 39’700 – 39’900 ( KS and TS Cluster) A breakout, on a DAILY CLOSING BASIS , of one of those levels, would have the following implications : DOWNSIDE : Focus will shift...

Ironman8848

DAILY (D1) After having, yesterday reached an intraday low @ 38'244 in testing the ongoing support trend line, the BTC closed @ 38'780 , below the clouds and the cluster of Tenkan-Sen and Kijun-Sen and last but not least, below the MID BOLLINGER BAND too ! Therefore, on the DAILY TIME FRAME, there are 2 levels to watch at and monitor carefully, and this...