Currently below the clouds and as I had already mentioned in my previous analysis, a weekly closing below 40’118 would add more selling pressure.

RSI below 50, @ 44.31

LAGGING LINE au milieu de la zone des nuages.

Levels to watch in a weekly basis, are the following :

UPSIDE : 41’279 - 42’690

DOWNSIDE : 38’547 - 36’500


Currently trying to hold above a minor support trend line and still under the influence of this triangle pattern with a target @ 37’581.

In order to neutralise this ongoing downside pressure, the BTC should imperatively close, in a daily basis, above the triangle support line (@ 40’000) and also confirm the Tenkan-Sen breakout @ 40’0763 which also match with the triangle resistance line of this formation which is approaching of the apex.

RSI below 50, @ 41.16

The LAGGING LINE hold for the time being above the bottom of the clouds support area; a breakout confirmed of this support would be seen as an added negative signal.


Currently below the clouds, moving sideways in a relatively narrow trading range (39’000 - 40’000) wc his corroborate perfectly with the weekly and daily comments previously mentioned.

Please note the « TWIST » (40’150 - 40’276) which means a clouds resistance area very fragile which could be broken very easily due to its little thickness and if it occurs, that would put the focus to higher level such as the Tenkan-Sen @ 41’088

On the downside, a failure to stay and close above the 39’000 area would open the door for lower levels towards the next support zone between 38’500 and 36'500


Also below the clouds, currently caught between the KS and TS in support and hourly clouds (39’800 - 41’088) in resistance; the top of this resistance zone is also confirming the importance of the weekly Tenkan-Sen @ 41’279

IRONMAN8848 - Jean-Pierre Bürki
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