D1 : After having broke in an intraday basis the Kijun-Sen and reached a low of 44151, BTC recovered nicely, to close @ 46315, above KS.
Global picture remains heavy.
Indeed, despite the rebound seen recently, BTC is still below Mid Bollinger Band which remains a very good "barometer" indicator as you
can see in the past.
Therefore, I still consider current price action as a CORRECTIVE MOVE ONLY... and not as a trend reversal yet.
Only a move above Mid Bollinger Band, currently @ 49644 would force to a view reassessment of the expected bearish scenario with a confirmation
on a breakout of KS (51253) and pivot resistance level @ 51530.
Watch H4 and shorter time frames to detect intermediates validation or invalidation signals.
Have a great weekend.
All the best and may your long goes up and your short goes down...
Global picture remains heavy.
Indeed, despite the rebound seen recently, BTC is still below Mid Bollinger Band which remains a very good "barometer" indicator as you
can see in the past.
Therefore, I still consider current price action as a CORRECTIVE MOVE ONLY... and not as a trend reversal yet.
Only a move above Mid Bollinger Band, currently @ 49644 would force to a view reassessment of the expected bearish scenario with a confirmation
on a breakout of KS (51253) and pivot resistance level @ 51530.
Watch H4 and shorter time frames to detect intermediates validation or invalidation signals.
Have a great weekend.
All the best and may your long goes up and your short goes down...
