Looks like a trip bottom forming on daily. Charts look good on the Weekly as well in my opinion. Good setup with a relatively tight stop.
Always base your trades on the possibility of it going wrong and adjust your risk accordingly. Never risk what you cannot afford to loose. Good luck everyone!
Tips are always welcome and will encourage us to release more...
For anyone interested in Ichimoku setups, here you go...
With a thick cloud acting as strong resistance, price will have to break through to become bullish on the daily according to Ichimoku rules. Traders could look for a short at the bounce off the cloud. There are 2 stop options depending on ones risk appetite. If Chichou (yellow circle on left) can break...
Nice breakout from the cloud. If breaks yellow line, it should continue upward. Might be able to ride this one up to about $15.65 and take profit.
Only sharing my setups for education.
Please only risk what you are willing to lose FOREVER!
Here is a simple Ichimoku analysis for BTC. The indicator is best used to identify trends, but can be very useful for finding support and resistances as well. You can see how the price closely respects the cloud.
Just throwing it out because some were asking me how I use this indicator. Hope it helps!
Helpful comments and opinions are always welcome, Cheers!