BTC - D1 - BEARISH ENGULFING PATTERN...
D1 : Yesterday's price action triggered a Bearish engulfing pattern.
Intraday recovery failed to upside breakout the downtrend line resistance which remains an important area to clearly break which if done, would confirm further upside.
36130 (Tenkan-Sen) remains, as already mentioned several times in my post one the main leading indicator.
34400 ( MBB ) is the second support which should be seen also as a very good barometer, as already seen in the past.
32191 is the ultimate support, a failure to hold above that important level would trigger a sharp downside move
Conclusion : on D1 basis, BTC , need, in order to stabilize the downside risk, quickly recover and hold above at least 39150 (closing & opening of former sessions) which
would confirm an upside breakout of the current downtrend line resistance.
Sell on rally towards the downtrend resistance line
See H4 post which will posted in the next couple of minutes for intraday clues
Have a great weekend.
Best
Ironman
Intraday recovery failed to upside breakout the downtrend line resistance which remains an important area to clearly break which if done, would confirm further upside.
36130 (Tenkan-Sen) remains, as already mentioned several times in my post one the main leading indicator.
34400 ( MBB ) is the second support which should be seen also as a very good barometer, as already seen in the past.
32191 is the ultimate support, a failure to hold above that important level would trigger a sharp downside move
Conclusion : on D1 basis, BTC , need, in order to stabilize the downside risk, quickly recover and hold above at least 39150 (closing & opening of former sessions) which
would confirm an upside breakout of the current downtrend line resistance.
Sell on rally towards the downtrend resistance line
See H4 post which will posted in the next couple of minutes for intraday clues
Have a great weekend.
Best
Ironman
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