BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Just wanted to share with you guys my new favorite technical analysis charting patterns and why it can be a good indicator of future price fluctuations. On recent charts I like the Ichimoku Cloud indicator, it's a more powerful and complete version of MAs (Moving Averages) or EMAs (Exponential Moving Averages). With this BTC 0.18% chart we see the direction of the macro trend. This is done by looking at price in relation to the Kumo Cloud on a high time frame like the 4H-1D. At a glance, we can tell where the current trend is, how strong it is, and when it started/the last one reversed.

RSI has just about matched EMA on bottom indicator

Resistance at 6500 range, support trending at 6200. Developing a downtrend, but soon will consolidate and contact up.

October will be a big month. Feel free to comment on any ideas or questions, love the crypto space and others ideas.

-jonnyocean
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