I need to make everything clear about Ichimoku and settings! I don't care about settings optimization for crypto. For me, the default settings of Ichimoku indicator are workable and as a result - profitable. If you use your own settings, please, share them in comments. Maybe someone will be glad to use them. But please, don't tell me that I'm wrong with my variant and that I can't use the default settings with crypto. You will be far from the reality.
As for the market, the price broke the main downtrend line and moved upward, passing through the cloud. From that moment, the market became bullish. From that moment, we should search for buy opportunities only.
The price could not break 184.00 resistance level. It means for confirmation of an uptrend, the market will have to pass this zone. If so, the breakout can be used for buying with stops below the cloud and profit targets at the resistance levels.
Also, it will be possible to buy based on a confirmed reversal signal. If the price bounces from 184.00 and moves lower, the cloud will be able to support the price and provide an interesting buy opportunity.
Maybe you have a question - will the market move upward? To tell you the truth, I don't know. And I should add that nobody knows when and how the market will move. We just can predict possible market movements and follow them. From TA the market looks interesting for buying. But what if BTC falls? What if this market does not get fundamental support? What if manipulators have another plan? There are many factors which can push this market sideways or downward. But it is ok. We can be profitable even in such conditions.
P.S Don't forget to read my previous post about Ethereum. You will be able to get more ideas how to trade. If you support my work in TradingView by your LIKEs, I will be grateful!
Good point as always Dim! I enjoyed your TA as usually. I'm using Ichimoku as my main indicator, boosted with williams%R (which I like more then rsi) and have similiar thoughts about Ethereum. About Ichimoku "crypto settings" - the funniest thing is that most of ichimoku traders which are using 20/60/120/30 dont really know what this settings are changing but stands for "they're better" ;-)
DLavrov
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@fortoona, thanks a lot for your feedback! You ae absolutely right, "gurus" and "legends" of crypto trading know nothing about indicators, settings and trading)