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Ichimoku_Trader
Jan 17, 2018 4:02 PM

Popppp... Long

Bitcoin / U.S. dollarBitstamp

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Inside the expected reversal zone, look for kumo flats to find confluence. At those lines, the probability of reversing is always greater

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Big bounce at 10000...
Expected, so the value of the pin bar is very low

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We have a nice MD bar inside the reversal zone

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Now forming an MD bar just after penetrating the lower support

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1st thing to watch for is a break and close above 9230
Unless that happens, don't expect reaching KS

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After bouncing from the reversal zone, Now expecting to reach resistance as follows...

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Almost at the trendline now...

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Almost there. Price as well as my oscillator are almost at the critical level. Just a bit more...

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We have an MD bar at resistance but the oscillator still needs to get above the line
Your call, take it or leave it

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Still going down. A daily close below TS is a negative a good sign for the bears...

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Chart updated..
Comments
Phlux
Hey I've never heard of "MD" bar can you please explain what that is real quick?
Ichimoku_Trader
raaajesh
@Ichimoku_Trader, I noticed for all cryptos, Ehlers-Smoothed Stochastic RSI for 1-Day red dot at top. What is your opinion on it?
raaajesh
/Users/rajeshthankappan/Desktop/Parallels Online Store.webarchive
KinkoHyoTrading
How did know there was a reversal, chikou span aproching Price ? By the kumo shadow? or simply by supports and resistances lvls?
Ichimoku_Trader
@BabasNumbaOne,

1. CS approaching the kumo
2. KS & Kumo flats
KinkoHyoTrading
Because of the kumo shadow ? or the Chikou hitting the PA?
Ichimoku_Trader
@BabasNumbaOne,

I missed your question, sorry
wjsharples1
What makes you say the bubble has burst and not just another deep market correction like we've seen in the past?
Ichimoku_Trader
@wjsharples1,

As per my analysis, I see that price has gone deeply below the Kumo with some high momentum candles. Both these issues are problematic and they tell me that even if we were to go back up we will probably do that very very slowly and we will probably fail to break the previous highs

If that is the case, then the bubble has burst

On the other hand, there are still some positive signs. Most importantly, the CS is still above the kumo and SSB is still moving up. If these also change, the scenario becomes dimmer

Good luck
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