Using the recommended Crypto settings for ichimoku (20pd Tenkan, 60pd Kijun, 120pd Senkou A, 30pd Senkou B, 30pd Displacement/Chikou), I have recently started experimenting with a "Leading" Chikou (30pd ahead) in addition to the 30pd Lagging Chikou, and seeing what correlations can be found.
This is a very good example of the Leading Chikou responding to the...
BTC is currently in one of the two white more bold triangle patterns, however it does seem to be at a temporary bottom with regard to both of them, losing much of its volume, and could swing up at least partially for one of the wedges if things hold up. Currently facing resistance on the 50 (white) and 200 (red) daily SMAs which it just lost support with. A...
Study this image carefully, then compare it to BTC's recent high range at 9200-9600.
Could we be in for a correction to 8800 to 8900? Or even as low as 8300 if we see a dead cat bounce at the first level mentioned?
We shall see.
Looking at the current reaction to price at the 9600 levels, and taking a step back to the weekly chart, it seems possible we could see a retrace back to the top of our downtrend some weeks in the future, as a more proper re-test of it than the one we see on shorter timeframes. ( ).
Going to keep this chart posted publicly...
For those unfamiliar, a Wyckoff throwback is a rally back up to the floor level of the distribution zone, which in our case would be the Descending Triangle pattern we saw from June to late September.
Here is a simple illustration of that: school.stockcharts.com
This original idea posted on August 25th seemed to hold pretty well in terms of support and resistance trend lines.
Currently, there is a strong support appearing at around the 7150-7250 area. Lets see how it holds up.
Good Luck out there!
BTC is clearly on a downtrend with a lot of fakeouts in terms of a reversal happening in the past week. I am looking to the yellow Moving Average line, the 55-Hull Moving Average from the 4-hour chart timeframe.
Posting this chart to monitor activity as it is very close and testing that resistance now.
Trendlines from the current high to several of the subsequent highs, roughly translate to a Fibonacci time retrace chart scaled to fit along the bottom of the descending triangle pattern.
A very interesting thing to note is the price action in respect to these channels of support and resistance. Some follow a ping-pong pattern down, and others cut across wasting...
BTC's overall upward trend after Q1 2019, which seem to be riding on 3 distinct trend lines from January/February/March of 2018. These are 50/100 period pivot trend lines. The overall shape of this trend does appear to resemble a head and shoulders formation. Is it about to break down and fall hard?
On the 4-Hour, we are on the bottom of a perfectly...
BTC Looks to be hugging the red ichimoku cloud bottom and on a downward channel trend. If a bullish engulfing candle into the red cloud occurs, set stop loss to slightly below the cloud bottom, and enter a long with a target of the top of the red cloud, or slightly below it.
If there is no strong cloud entry, and a breakdown happens of 10350 (teal), look to...