CapMoore

BTC/USD Ichimoku Buy Signal In Place On H4 Timeframe March 21

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Price has broken above the Cloud on a bullish twist, and we have
a buy signal in place, confirmed by the lagging span. Price has tested
the Daily R1 and is now retesting Cloud support and possibly the
Daily pivot point at 8750. Traders who use this timeframe and are
trendfollowers, could buy and trail a stop by the Kijun Sen (whtie
line) and use it either on a touch or on a close below, which is the
more common way. Still, price has to break through significant
resistance by the daily Cloud around 9500, something to keep in
mind. Conservative traders would like to see that level breached
and a trend shift on the daily timeframe from bearish to neutral
before looking to long the pair.
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