H1 : Caught in a sideways range (52630 – 54400) and still above MBB (53673).
A failure to stay and hold above MBB
would open the door for the 23.6 % fib ret @ 52658 ahead of 51’577.
On the upside, a breakout of the former high @ 54’405 would be the first signal of a switch
from a short term sideways (neutral) price action to a bullish one !
M15 : An Head and Shoulder pattern is in progress. For the time being, BTC is still
above the clouds which once again worked perfectly well in rejecting, yesterday’s evening a downside breakout attempt around the 52630 level which was roughly, also the 23.6% Fib ret above mentioned.
CONCLUSION :
M15 : Watch carefully Mid Bollinger Band and the clouds as short term leading indicators
H1 : Watch 53’060 as the first support
A failure to stay and hold above MBB
would open the door for the 23.6 % fib ret @ 52658 ahead of 51’577.
On the upside, a breakout of the former high @ 54’405 would be the first signal of a switch
from a short term sideways (neutral) price action to a bullish one !
M15 : An Head and Shoulder pattern is in progress. For the time being, BTC is still
above the clouds which once again worked perfectly well in rejecting, yesterday’s evening a downside breakout attempt around the 52630 level which was roughly, also the 23.6% Fib ret above mentioned.
CONCLUSION :
M15 : Watch carefully Mid Bollinger Band and the clouds as short term leading indicators
H1 : Watch 53’060 as the first support
