One thing I've been studying and practicing over the past few weeks is the use of Ichi clouds. And one thing I've picked up on is cloud twists. For those of you that don't know, a cloud twist is where the cloud gets really thin and turns from a green cloud to a red cloud or vice-versa. Not always, but on many occasions, especially at higher time frames, a cloud twist can signify a reversal from a drop to a rally, or rally to a drop.
Look at the OMG chart for instance. I've circled areas where the cloud gets thin or does do a complete flip, and you can definitely see significant price movements along most of those points.
I'm not introducing this tool to help me forecast when BTC might be reversing a trend ... and by the way the kumo on the BTC daily says something big may be coming around May 23 .... maybe an end to this bear trend?
As for OMG, the clouds would suggest on the hourly that we have heavy resistance above, so perhaps we shouldn't expect a rally any time soon. I do like OMG as a project, but perhaps will buy a little later when I see things improving with the indicators.
Remember only a fool relies on one potential outcome.
Do not make financial decisions with this information. For educational purposes only.
Look at the OMG chart for instance. I've circled areas where the cloud gets thin or does do a complete flip, and you can definitely see significant price movements along most of those points.
I'm not introducing this tool to help me forecast when BTC might be reversing a trend ... and by the way the kumo on the BTC daily says something big may be coming around May 23 .... maybe an end to this bear trend?
As for OMG, the clouds would suggest on the hourly that we have heavy resistance above, so perhaps we shouldn't expect a rally any time soon. I do like OMG as a project, but perhaps will buy a little later when I see things improving with the indicators.
Remember only a fool relies on one potential outcome.
Do not make financial decisions with this information. For educational purposes only.