16 Apr 20
This chart utilizes the ICHIMOKU Kinko Hyo by KIVANC fr3762, one of my favorite indicators. Without going into a lot of details just let me point out that I have reversed the colors between the TenkanSen and KijunSen and I reduced all lengths by approximately 33%.
You might notice the green plot background following the camel is trying to develop that cloud formation to indicate an upward trend but it has not developed yet. I think it’s fair to say that the red plot background does give the appearance of a camel that is standing upright with 2 big bumps on its head as compared to the napping position it took prior to the last increase in Bitcoins value.
What’s a camel do when it awakes? Takes a little dump and starts on his merry way looking for higher pastures. All of that marks the beginning of the next green cloud formation. Without it’s proper formation we look to see if there is something wrong with the Camel. Well is there? Maybe he’s just having a hard time digesting the recent and current price regurgitations. Or maybe He is a She and about to give birth? I don’t know. Maybe he/she got hit by the 2020BS and needs get back on the pot (toilet).
And what if it remains constipated?
Happy Trading Everyone.
Thank you for letting me shares my Bitcoin Study. I hope it helps you see the path forward in all your trades.
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Charts are a reflection of Human Behavior
Humans act in similar ways during periods of high stress
Humans act in similar ways when they are fearful of being left out
Humans act in similar ways during a bottoming process
Humans act in similar ways at the early stages of a new bull market
