BITCOIN - Range(rs) in action? - Ichimoku TA
Hello Traders!
*Daily*
After reaching 6700 zone BTC successfully bounce at near 7500 area... Is it time to start cool off our champagnes? I am not so sure. Price is above Tenkan and it's about to possible break the Kumo but we are not there yet, also this Kumo is rather thick so it tell us about huge net of active resistance zones. Even if we would break thru this Kumo I wouldn't recommend any trades inside the cloud and wait for breakout from the other side. Also the shape and direction of Kumo (which is rather horizontal) tell us about possible range market if we look from daily chart perspective. RSI supports the upward move but ahead we have EMA500 which gonna act as resistance and will tell us for sure how strong is this local upward move.
Levels to look for:
* 7550-7600
** 7700-7800
Ichimoku signals:
BUY: If you miss the bounce from level 6900 you should wait for Kumo breakout above, wouldn't recommend to place buy orders inside the cloud
SELL: Possible rejection from Kumo 7550-7600 can start sell orders but I would recommend to wait with any moves for now
*H4*
From 4 hours chart point of view we are in range market, compared to Kumo price is still moving horizontally.
Ichimoku signals:
BUY: none/same as with D1 - based on D1 chart we have not confirmed any trend change
SELL: possible rejection from 7550-7600 can be a good time for sell order
*H1*
From 1 hour chart point of view we are in range/slightly upward market also the RSI tell us that impulse is weakening.
Ichimoku signals:
BUY: none/same as with D1/H4 - based on D1 chart we have not confirmed any trend change
SELL: possible rejection from 7550-7600 can be a good time for sell order
***IF YOU WANT TO SEE MORE ANALYZES LIKE THIS FROM ME RETHINK A SMALL TIP***
BTC ADRESS: 18UkQdq8hNKyxrpDfexU26cQs3DSFzm2bE
Roger out.
*Daily*
After reaching 6700 zone BTC successfully bounce at near 7500 area... Is it time to start cool off our champagnes? I am not so sure. Price is above Tenkan and it's about to possible break the Kumo but we are not there yet, also this Kumo is rather thick so it tell us about huge net of active resistance zones. Even if we would break thru this Kumo I wouldn't recommend any trades inside the cloud and wait for breakout from the other side. Also the shape and direction of Kumo (which is rather horizontal) tell us about possible range market if we look from daily chart perspective. RSI supports the upward move but ahead we have EMA500 which gonna act as resistance and will tell us for sure how strong is this local upward move.
Levels to look for:
* 7550-7600
** 7700-7800
Ichimoku signals:
BUY: If you miss the bounce from level 6900 you should wait for Kumo breakout above, wouldn't recommend to place buy orders inside the cloud
SELL: Possible rejection from Kumo 7550-7600 can start sell orders but I would recommend to wait with any moves for now
*H4*
From 4 hours chart point of view we are in range market, compared to Kumo price is still moving horizontally.
Ichimoku signals:
BUY: none/same as with D1 - based on D1 chart we have not confirmed any trend change
SELL: possible rejection from 7550-7600 can be a good time for sell order
*H1*
From 1 hour chart point of view we are in range/slightly upward market also the RSI tell us that impulse is weakening.
Ichimoku signals:
BUY: none/same as with D1/H4 - based on D1 chart we have not confirmed any trend change
SELL: possible rejection from 7550-7600 can be a good time for sell order
***IF YOU WANT TO SEE MORE ANALYZES LIKE THIS FROM ME RETHINK A SMALL TIP***
BTC ADRESS: 18UkQdq8hNKyxrpDfexU26cQs3DSFzm2bE
Roger out.
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