Nick_Core
Long

Bitcoin Analysis, Nice squeeze and breakout.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
- Incoming Bullish Tenkan-Kijun cross on the daily... IF we can continue with a bit more of a rally into the next daily open. 10 hours left as of this writing.
- OBV passed the level I needed for a semi bullish confirmation on daily. However we need more volume to continue past $8,550 along with additional confirmation.
- Tom Demark Sequential on the daily showing bear exhaustion 2 days ago.


-Wicked back off of the 4 hour Tenkan-sen on that beautiful little breakout.(No surprise)

-So lets bust this 6 hour open... BITFINEX:BTCUSD

Watch for rejection at this level ($8,550) BITFINEX:BTCUSD and also the 6 hour Tenkan-sen (Bottom Chart), once we break that then we can watch for a trend break. As always I am watching volume very closely. Volume controls all other factors so I typically focus on volume in situations like this. (Stop losses are always my friend, so use the tools you are provided with for external factors that are not able to be seen with TA)

Educational link for Ichimoku cloud and the Tenkan-Kijun Cross
http://ichimokustrategy.com/ichimoku-strategies-the-tenkan-kijun-cross-setup/
Comment: Add a like and follow. ;) The more followers and ideas trending I get here the more analysis Ill dish out. :D
All posts are for educational purposes and are simply my views of markets conditions. At no point should you act or trade upon my posts or https://www.thetradingwizard.com

Please do your own research and use my content to educate yourself.
eagle eye
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Reeeeeeeeeeeeeeekt. Typical crypto twitter, read some investopedia and give wrong signals. To the moon!
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@kaka900, lol
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Nick_Core Nick_Core
@Crypto_Core, Read "However we need more volume to continue past $8,550 along with additional confirmation."
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Seams like you are using the standard ichimoku values, I usually double the values. That MACD cross + T/K cross are just right on the money. BTW what is the other indicator that you have on the 6h chart?
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Nick_Core khimaira
@khimaira, The stoch and the TD. But no I don't use standard settings, I use 20, 60, 120, 30 which is more suitable and accurate for volatile markets.
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Thank you and please keep your followers posted!
+1 Reply
Things are looking good. Thanks for the idea!
+1 Reply
Nick_Core aburttschell
@aburttschell, No problem
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