bestfarbit74

BTC long term road map

BINANCE:BTCUSDT   Bitcoin / TetherUS
Hi everyone

If you are not familiar with the Ichimoku Indicator to know how the clouds can act as strong support & resistance , today I will give you a view of
how the clouds will act when the price cross over/down of them in bigger time frame.
though I don't use the clouds for enter/ exit purpose of my trades but it's a good one to follow and analyze a trend for different time frames.
so I want to show you two samples of monthly charts from different markets to give you a big perspective of what is going on in near future might happen for BTC price.
you can do try it for other markets and time frames to see more information.
.....................................................
the first one is S&P 500 INDEX monthly chart between 2002 and 2011. look at the chart to see what would happen when the price moves below the ICHI cloud.
.....................................................
another sample is a monthly chart of EUR GBP pair during 2012 and 2016 .just look at the price couldn't overcome the cloud to keep on uptrend and rejected
to decline more again until the mid of 2016.
....................................................
now look at the BTC USD monthly chart on Bitfinex (or other Exchanges). as you can see BTC just declined below the cloud in Jan 2020. the price has tested the cloud
on the May 2020 but still stayed below. it might try to test the cloud again, but if can't cross over it we will remain in downtrend for long term even for the whole of the year.
MACD dropped to negative zone from December 2019 and still doesn't show any positive sign. just look at the chart to see how the price trapped in my big drawing wedge
and couldn't get out of it yet.although the recently candle is upon our 21EMA (purple line) but there is no guaranty to stay over it.
.....................................................
after all nothing can occur for sure and the market will decide what to do. so as a trader you have to get ready for any situation may happen in near or far future.
this is just an analyze and I'm not a fortune teller. I just deal with logical information the indicators give me. so do your own research before any decision.
Stay safe

Enjoy the market
Comment: price candle is going to close this week.if BTC can hold our weekly support line, I expect the price will hit 11000$ before deep correction( my opinion ).
we still remain under monthly ICHI cloud so as far as staying below the cloud the bears can gain upper hand.

Comments

globally agreed. Let's go downstairs.

We'll grow locally to make a double top.
Reply
bestfarbit74 Valeriia_Top
@Valeriia_Top, yes indeed,agree for short term upward. thanks for your comment (:
+1 Reply
Valeriia_Top bestfarbit74
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out