My views on the Dow from an Ichimoku perspective.
EDIT: **I mentioned the span B was devised from last 26-periods. This was an error, it is the last 52 periods.**
So far, wash out and reclaim idea is still in play. Interacting with the Daily 50sma (not on this chart) and upper TL of balance, interested to see what this does from here, but great long so far...
Bears won again. 618 claim couldn't hold the reversal.We are now retesting this downtrend 50% retracement, just now from the top side. Also, the indecision on this candle was pretty wild. Sunday dumps are appearing to be common practice. BTCP news didn't seem to have enough juice to get this going again. Back to sitting on hands...
Price still in supply zone but 61.8 now serving as support. Break out from here will likely test highs. Conversely, a rejection likely takes this below supply again. All things contingent on BTC holding up.
Notes on chart. Would love a wash from compression into 50% retracement support + bottom span of cloud. With recent DIS news, could go. Top of my watchlist.
SYNXBTC on the move but running into a long-term supply zone. Tough to recognize on the weekly, but dial down to a 4H and there are two supply zones incorporated into that lower box. Box above would be next area of resistance. HOWEVER, looking at profile, vol is very light up there, could blow through them, hope we find out. (No position, watching for resolution...
Binance added PIVXBTC causing that breakout attempt. Opened over $30 and quickly fell, so tough to tell if people were tying to play the arbitrage on Bittrex or if it was a legitimate breakout. Currently in this name, and not too optimistic on this retest. There is a 50% test here as well, we lose that and looks to test old demand zones
Currently bounced off the 88.6 with vol from this downtrend. Fighting with a supply zone to now hold this 61.8. A close above 61.8 could indicate this downtrend is over and we are moving into the next leg higher.
