SIB daily price is still under the MA cloud giving bearish sentiment, however it appears that price has reached the edge of the red 4H MAMA line indicating an e2e trade could play out. If this e2e trade plays out it will put price above both the Tenkan and Kijun lines on the Ichimoku 4H which indicates price could move higher. If price gets passed this zone of resistance and enters the daily MA Cloud, this will put SIB in another e2e trade with the daily MA cloud, which puts it in an even larger e2e trade on the Ichimoku 4H and possibly daily.
I have marked the 4H e2e play with the first two arrows from the bottom. The third arrow is the start of the daily cloud and the top most arrow is the target on the Ichimoku 4h e2e trade.
Ichimoku 4H chart:
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Price making it's way to daily MA cloud edge:
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Wow.
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Price has moved 110% BTC over the past 24hrs and has retraced back to the daily MA cloud.
If we get a close today above the daily cloud overall sentiment will be bullish, else there could be a retrace back under the cloud.
Price has moved 110% BTC over the past 24hrs and has retraced back to the daily MA cloud.
If we get a close today above the daily cloud overall sentiment will be bullish, else there could be a retrace back under the cloud.
BeerdHead
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thx a ton Phil. looks like my 162 entries were a bit hasty - second entries at 142 feel better - may add a third position if we move into the low 14s between now and Wednesday
if horizontal support continues to hold, this chart has at least another week remaining for consolidation if it wants
philipdinu
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@BeerdHead, Both good entries. If I had taken the one at 162 I would have been stopped out in the cloud at a loss. I think if price can make it back into the daily MA area which is looking pretty good, it should fly. Some heavy resistance in this area though, will be interesting to see what happens if price hits the daily cloud.
BeerdHead
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@philipdinu took profits from 145 and 162 entries between 285 and 299 - read the trex book and parked up just beneath a 3 btc sell wall at 300
almost literally could not have asked for more - holding out for re-entry at 171 which looks like approx top edge on the small green cloud opening open
BeerdHead
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also noteworthy - the 32 bitcoin buy wall at 17000 - i think somebody else is also looking for a bounce off of the cloud
philipdinu
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@BeerdHead, Nice play! Great returns, you caught most f that wave.
BeerdHead
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@philipdinu thx - im keeping an eye on it for another wave - right now its dangerous to buy into though, ive seen it bull trap after these big spikes - RvR is not favorable again yet
If we get a close today above the daily cloud overall sentiment will be bullish, else there could be a retrace back under the cloud.