BTC - H1/M15 - CLOUDS BREAKOUT ATTEMPT ON H1...
H1 : Currently trying to breakout :
1) Clouds resistance
2) Downtrend channel top resistance line
3) 23.6% Fibonacci retracement @ 46639
Indicators are showing some lack of momentum
Successive "little" candles are also showing somme uncertainty which may add somme renewing
selling pressure on the upcoming hours without a confirmation of a real breakout by white candles.
M15 : We are still in the primary uptrend channel which began yesterday @ 43021; nevertheless, a new sideways-slightly
down, secondary channel took place a couple of hours ago and a failure to recover and hold above former
high @ 46875 would confirm a very short term in place, calling for lower levels, towards the clouds support
area first.
Continue to monitor closely short term time frames to get intermediate information for validation or invalidation.
1) Clouds resistance
2) Downtrend channel top resistance line
3) 23.6% Fibonacci retracement @ 46639
Indicators are showing some lack of momentum
Successive "little" candles are also showing somme uncertainty which may add somme renewing
selling pressure on the upcoming hours without a confirmation of a real breakout by white candles.
M15 : We are still in the primary uptrend channel which began yesterday @ 43021; nevertheless, a new sideways-slightly
down, secondary channel took place a couple of hours ago and a failure to recover and hold above former
high @ 46875 would confirm a very short term in place, calling for lower levels, towards the clouds support
area first.
Continue to monitor closely short term time frames to get intermediate information for validation or invalidation.
Watch closely price action in the next H1 period and also on M15 for clues and confirmation.
M 15 : Currently trying to "reenter in the former short term uptrend channel.