Ichimoku - Bitcoin in a critical area

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
641 7 11
Right now we are facing a huge resistance to break above 600.

In case of a bullish outcome :
1) First level of resistance is 602, closing the daily above it would be a good signal.
2) The next step of resistance is the area between 612 and 622
3) We have top resistance around 650
4) Then for a really bullish trend , breaking 690 would be really important

In case of a bearish outcome :
1) A retest of the 575-580 is obvious
2) The 547-560 is a really big support zone , it can spend a lot of time at this zone if we don't have volume or it can go straight through it if volume show up.
3) 530 would be a nice bounce area
4) 507 can be also a nice bounce area
5) if 500 breaks it will cause a lot of panic, the next support potential is expected around 460
just so you know the western, newer, *correct* ichimoku is 10 30 60 30
do you know who used these params first ?
+1 Reply
you need macd
this should make the other chart easier to view...
agree with pretty much all points, we've tried so many times to reach 700, the bulls used all their buying power.
+3 Reply
what about your other chart?

their conclusions are about the same no?
LeMogwai PaulAnthony
Yup, same conclusion but with the traditionnal settings there.
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