BTC - D1 - DOWNTREND CHANNEL INTACT !
D1 : Global picture is showing a downtrend channel still in place.
In addition, for the time being, the ongoing recovery attempt price action
failed, so far, to recover above Kijun-Sen (47275) which is the first level to break
in order to neutralise the remaining bearish price action.
A move above Kijun-Sen would be the first step to confirm a potential further
upside move, as above Mid Bollinger Band (49523) which worked perfectly well
in the past as a very important support level (leading indicator !), should be seen, now, as a strong resistance to break to change the mode
from bearish to bullish.
Watch H4 for clues.
In addition, for the time being, the ongoing recovery attempt price action
failed, so far, to recover above Kijun-Sen (47275) which is the first level to break
in order to neutralise the remaining bearish price action.
A move above Kijun-Sen would be the first step to confirm a potential further
upside move, as above Mid Bollinger Band (49523) which worked perfectly well
in the past as a very important support level (leading indicator !), should be seen, now, as a strong resistance to break to change the mode
from bearish to bullish.
Watch H4 for clues.
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