Ironman8848

Ironman8848

Last weekly candle triggered a BEARISH ENGULFING PATTERN ! Indeed, the failure to : 1) Recover above the Mid Bollinger Band 2) Hold above Kijun-Sen and Tenkan-Sen is confirming this persisting downward pressure in this weekly time frame. Looking ahead, it is likely to see an ongoing downside move with temporary recovery attempts in a countertrend tactical...

Ironman8848

Today, we are going to look at the 4 hours chart which is showing several (at least 5 !) interesting things 1) Double top in progress 2) RSI bearish divergence 3) Doji top, followed by a bearish engulfing pattern 4) Breakout of the Mid Bollinger Band 5) Lagging line cross under the Kijun-Sen and last but not least, currently the BTC is already in the middle of...

Ironman8848

Yesterday's price action, second consecutive long black candle, which firstly confirmed the previous BEARISH ENGULFING PATTERN (Feb 10th) and secondly broke, on a closing basis the base of a triangle pattern. Global picture is not encouraging for the upcoming week and this triangle pattern gives a technical target @ 12'862 which is roughly the same level of the...

Ironman8848

No additionnal comnent ; this 4 hours chart speaks for itself ! Bullish above the Mid Bollinger Band and Bearish below in this H4 time frame ! (Closing basis) All the best Ironman8848 & Jean-Pierre Burki

Ironman8848

Following the nice rally seen over the last couple of days, recent price action triggered a potential double top formation in progress , coupled with a RSI bearish divergence and last but not least, the last H4 candle is showing also a BEARISH ENGULFING PATTERN. Therefore, upcoming candle price action should be watch at very carefully as a failure to recover...

Ironman8848

DAILY (D1) Yesterday's price action triggered a "DOJI" candle with its closing level, exactly at the daily clouds bottom level ! Today's ongoing price action, is for the time being, showing a potential reversal in progress , which, of course, needs to be confirmed on a daily basis closing (either by a dark cloud cover or even better by a bearish engulfing...

Ironman8848

DAILY (D1) The "minor" 61.8% Fibonacci retracement @ 44'783 of the last downside move (52'098 "shooting stars) towards 32'950) has been filled. Above that level there is a very important area (DAILY CLOUDS) which should ultimately be broken in order to confirm further upside ! Indeed, a failure to do it would reopen the door for a downside consolidation move...

Ironman8848

If you look at this 4 hour chart, I do not need to post any comment ...as it is pretty clear :-) "May your long goes up and your short goes down". Watch on which side the breakout will occur and act accordingly. Good luck . Ironman8848 & Jean-Pierre Burki

Ironman8848

WEEKLY (W1) Last week price action is showing a failure to recover and hold above both Tenkan-Sen @ 15'182 and the Mid Bollinger Band @ 15'577 which, for the time being is confirming that the recent recovery was a corrective move only in a broad new bear trend. Look at the shape of the last candle and make your conclusion ! RSI below 50, @ 43.62 Lagging line...

Ironman8848

WEEKLY (W1) This weekly price action is showing a recovery attempt which failed to breakout the Mid Bollinger Band on a weekly closing basis ! In addition the 61.8% Fibonacci retracement @ 4'580.75 has been filled (high being 4'586) and the weekly closing was @ 4'492.50 which is exactly on the razor's hedge (double top trigger level !!!) Therefore, this...

Ironman8848

As mentioned in my last analysis, the MID BOLLINGER BAND should be seen as a VERY, VERY, VERY IMPORTANT INDICATOR for the trend ! WEEKLY (W1) Ongoing weekly candle is showing a nice recovery attempt to breakout to the upside both weekly clouds top (42'570) and the Tenkan-Sen. Weekly closing will validate or invalidate this ongoing price action !!! DAILY...

Ironman8848

DAILY (D1) Following the recent rally seen over the last couple of days, yesterday's price action triggered a "DOJI EVENING STAR" which closed slightly above the Mid Bollinger Band..but as this kind of pattern is usually bearish, the Nasdaq opened today with a gap and roughly at the level of the ongoing uptrend support line. Today's price acton should be monitor...

Ironman8848

DAILY (D1) The Mid Bollinger Band remains a very good indicator which I always consider as "MY BAROMETER" ! The Bitcoin failed to recover and close above the Mid Bollinger Band and as a result, yesterday's price action triggered a long black bearish candle which closed (36'923), below the Tenkan-Sen (37'398) In this daily time frame, as long as the Bitcoin...

Ironman8848

DAILY (D1) Once again the daily clouds worked perfectly well in rejecting the entry of the clouds resistance area. Potential mirror effect (mentioned yesterday !) in progress... Yesterday's closing (4577.50) was slightly above the Mid Bollinger Band (4542.50)and today's ongoing price action is showing an attempt to breakout the former Mid Bollinger Band...

Ironman8848

DAILY (D1) First breakout attempt of the Mid Bollinger Band failed yesterday ! Today's price action is showing a new attempt in progress with on its way the Kijun-Sen which should also be broken on a daily closing basis ! So, in this daily time frame, the closing level later on, will tell us if the ongoing persisting downtrend is invalidated or not. Indeed,...

Ironman8848

MONTHLY (M1) January closing level @ 4'504.25 was above the Tenkan-Sen (4'418.75) which is in this time frame a first positive signal. The pivot level in this long term time horizon is @ 4'637,50 (middle level of the December candle) A monthly closing above this pivot level would trigger a piercing line which would be positive for the upcoming month having...

Ironman8848

MONTHLY (M1) After having reached an intra-month low @ 13'706 the Nasdaq recovered nicely to close on a monthly basis @ 14'905, slightly above the Tenkan-Sen which was in January @ 14'841.... BUT BELOW THE 15'000 AREA, which has been mentioned in my previous analysis ! 38.2% Fib ret filled @ 14'834 Indeed, a monthly and closing level above the 15'000 would...

Ironman8848

Firstly we are going to analyse what happened last week ! Indeed, the failure to recover, at least, above the middle level of the previous candle (long black candle) confirmed that, the " BEARS " keep their advantage over the " BULLS ", at least, for the time being ! In addition, a shy weekly closing @ 37'942 slightly above the weekly clouds bottom level (@...