BTC - M15 - IN CORRECTIVE SHORT TERM RECOVERY MOVE ONLY...
M15 : Currently in a corrective short term recovery and entering
in a fragile trading zone ranging between 56270 (50% Fib ret) and 58975 (78.6%
Fib ret); important to note that this trading range has been crossed very quickly early
this morning and therefore a mirror effect could be seen at any time !
Neverthess, I still consider ongoing price action as a CORRECTIVE MOVE IN A NEW BEAR
TREND .
I would remain extremely cautious on buying on dips and would strongly suggest to monitor
any long position with an extremely disciplinated risk reward ratio !!!
CONCLUSION :
We switched from a BULL mode to a BEARISH mode and therefore, it is now rather a SELL on rally
than a BUY on dips; watch Mid Bollinger Band and Ichimoku clouds.
ICHIMOKU CLOUDS a day...ICHIMOKU CLOUDS always :-)
Have a nice Sunday and take care.
As usual, please do not forget, if you find valuable for you my technical analysis, to like it first and then, why not
to put me on your following list :-)
Best
Ironman8848
in a fragile trading zone ranging between 56270 (50% Fib ret) and 58975 (78.6%
Fib ret); important to note that this trading range has been crossed very quickly early
this morning and therefore a mirror effect could be seen at any time !
Neverthess, I still consider ongoing price action as a CORRECTIVE MOVE IN A NEW BEAR
TREND .
I would remain extremely cautious on buying on dips and would strongly suggest to monitor
any long position with an extremely disciplinated risk reward ratio !!!
CONCLUSION :
We switched from a BULL mode to a BEARISH mode and therefore, it is now rather a SELL on rally
than a BUY on dips; watch Mid Bollinger Band and Ichimoku clouds.
ICHIMOKU CLOUDS a day...ICHIMOKU CLOUDS always :-)
Have a nice Sunday and take care.
As usual, please do not forget, if you find valuable for you my technical analysis, to like it first and then, why not
to put me on your following list :-)
Best
Ironman8848
