On the ichimoku system, the tenkan crossing over the kijun on the 4 hour timeframe as you can see is a bullish entry signal, as can be seen circled in black around 7k. the tenkan crossing below the kijun is also a strong exit signal. The tenkan in my settings is the average price for the last 20 days, the kijun average price for the last 60 days. Watching for this one to play out, at the moment watching for completion of an edge to edge cloud trade to the bpttom of the cloud around $4,300, and bounce back up, or go and retouch the 200 day ema(exponential moving price average, the dark blue line) around $3,600. If the price crosses below this level, that is definite bear territory. If however it bounces off these or where it is, and we get a recross of the tenkan above the kijun above the cloud then this is one of the most bullish entry signal, as Champagne Crypto would say TELL THE FAMILY TELL THE FARM ANIMALS FOLKS WERE GOING INTERSTELLAR. lol
Comment:
Yea so it blew through 200 day ema, looks like a bounce of the 3 Day Tenkan for now.