sammantic

Bitcoin and Ichimoku

BITSTAMP:BTCUSD   Bitcoin / Dollar
It has been said that Asian traders are the ones driving bitcoin trading. If this is the case it pays to use the technical indicators they are when trying to figure out trends. Ichimoku clouds is one of my favorite indicators and it works especially well with currencies and assets linked to currencies. Bitcoin is still in a bearish trend although shorter term it is beginning to improve. First line of resistance is around 430, at which point getting into the cloud would be a first step.
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