BTC - D1 - LONG BLACK BEARISH CANDLE IN PROGRESS...
D1 : The ongoing bearish tactical price action is currently triggering a long black bearish candle...
In addition the first significant support is now, not far away, TS @ 52134
A failure to hold above this important support level, would likely trigger further downside move in a
acceleration phase mode, putting the focus on the 23.6% Fib ret @ 51379 ahead of the psychological support level of 50000.
As long as we stay above the Mid Bollinger Band and the strategic support trend line, recent and current price action should
be seen as a consolidation & corrective move in a broad bullish trend.
A breakout (confirmed) of 46500 would then switch from a BULLISH strategic view to a BEARISH one !
On the upside, in order to neutralise the ongoing bearish price action, BTC should quickly recover an hold above 55920, which was
the yesterday's opening level of the former white bullish candle.
In addition the first significant support is now, not far away, TS @ 52134
A failure to hold above this important support level, would likely trigger further downside move in a
acceleration phase mode, putting the focus on the 23.6% Fib ret @ 51379 ahead of the psychological support level of 50000.
As long as we stay above the Mid Bollinger Band and the strategic support trend line, recent and current price action should
be seen as a consolidation & corrective move in a broad bullish trend.
A breakout (confirmed) of 46500 would then switch from a BULLISH strategic view to a BEARISH one !
On the upside, in order to neutralise the ongoing bearish price action, BTC should quickly recover an hold above 55920, which was
the yesterday's opening level of the former white bullish candle.
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