BTC - H1/M15 - PULLBACK ?
Aktualisiert
H1 : Currently in a downtrend channel.
In order to neutralise this ongoing bearish price action, we
need to see an exit on the upside of this downtrend channel.
Important to note that the Mid Bollinger Band in this time frame
coincides also roughly with the resistance level of the downtrend channel.
M15 : Indicators are showing some signs of potential bullish divergences.
Therefore, watch carefully at the ongoing period in progress and at the upcoming too.
If bullish divergences are confirmed, that would open the door for a rally towards the 54000/54300 area
which would be the first cluster resistance and then the next resistance area would be the clouds zone
with the first Fibonacci retracement @ 55160
Globally picture remains heavy and any long positions, for the time being should only be initiated on a tactical view in a very
short term trading horizon in a broad bear trend which took place following recent development in D1 and H4
In order to neutralise this ongoing bearish price action, we
need to see an exit on the upside of this downtrend channel.
Important to note that the Mid Bollinger Band in this time frame
coincides also roughly with the resistance level of the downtrend channel.
M15 : Indicators are showing some signs of potential bullish divergences.
Therefore, watch carefully at the ongoing period in progress and at the upcoming too.
If bullish divergences are confirmed, that would open the door for a rally towards the 54000/54300 area
which would be the first cluster resistance and then the next resistance area would be the clouds zone
with the first Fibonacci retracement @ 55160
Globally picture remains heavy and any long positions, for the time being should only be initiated on a tactical view in a very
short term trading horizon in a broad bear trend which took place following recent development in D1 and H4
Anmerkung
50 % Fibonacci @ 55705 filled, what next ?Looking at the indicators, we can see some loss of momentum which means that
we may have seen the top of the pullback.
watch carefully ongoing price action on M15 and Mid Bollinger Band as the first significant support. A failure to hold above it would confirm that the short term rally seen over the last couple of hours is over.
On the other hand, an upside continuation move would find the 61.8% Fib ret @ 56355 which is also the area of the H1 clouds resistance zone.
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