Back to that resistance we talked about and the levels we also talked about in out previous analysis
Price reversed right at the RED BOX we talked about. Now the current price of BTCUSD is at the resistance again testing it for the third time.
Using the ICHIMOKU DOUBLED CLOUD SETTING, KIJUN(red EMA) is still flat and calling for a pull back and price is far away from the TENKAN(blue EMA). Price will only move back to the upside only when there is a KIJUN ANGULATION to the upside.
Price needs to break the resistance and close above it(the body of the candle stick not the wick). The targets on the analysis are still valid only when price closes out the resistance of the ASCENDING TRIANGLE CHART PATTERN.
Note: we still advise all traders to hold on to their trade, it is likely the price of BTCUSD test some near low support levels at $7800 or lower.
*IF THERE IS NOT BULLISH KIJUN ANGULATION TO THE UPSIDE*
We will update more charts on BTCUSD to let all traders get in the trade before the mage move.
And will also look at the following in the coming days; LTCUSD, XRPUSD and EOSUSD.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
Using the ICHIMOKU DOUBLED CLOUD SETTING, KIJUN(red EMA) is still flat and calling for a pull back and price is far away from the TENKAN(blue EMA). Price will only move back to the upside only when there is a KIJUN ANGULATION to the upside.
Price needs to break the resistance and close above it(the body of the candle stick not the wick). The targets on the analysis are still valid only when price closes out the resistance of the ASCENDING TRIANGLE CHART PATTERN.
Note: we still advise all traders to hold on to their trade, it is likely the price of BTCUSD test some near low support levels at $7800 or lower.
*IF THERE IS NOT BULLISH KIJUN ANGULATION TO THE UPSIDE*
We will update more charts on BTCUSD to let all traders get in the trade before the mage move.
And will also look at the following in the coming days; LTCUSD, XRPUSD and EOSUSD.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.