The $51684.9 level is a strong S/R line because this corresponds to a Kijun Sen flat line and Senkou Span B flat line.
We can see that the current 4-Hour japanese candlestick has its high that corresponds to this $51684.9 value.
In an uptrend scenario, the keylevels to watch are :
The price might go down to $50004 (H3 Tenkan sen flat line +...
The Chikou Span line has got over the price.
The Chikou Span line is free in all timeframes (weekly, monthly, daily).
The RSI indicator does not show an overbought situation.
As written in my previous analysis of the Bitcoin trend, key levels are the same :
TP1 : $12568
TP2 : $13241
TP3 : $14453
Don't forget to keep an eye on the RSI 14 indicator, because if the...
Le price is actually in a bull trend but a last confirmation is needed because the price is actually testing the low price of the candlestick of the 10th of July 2019.
If confirmed, then the price could reach $12568 then $13241 then $14453.
Note that the RSI 14 is not actuelly showing an overbought situation.
Here are the key levels to watch for Bitcoin / USD on the daily timeframe.
The price of bitcoin is still over the kumo cloud.
The Lagging Span is actually encountering a green candle.
Downtrend scenario :
If the Lagging Span crosses the price and gets under it then that would be a first confirmation of a down trend.
In that case it would have to cross the blue...
The price has got under the cloud in the 4-hour timeframe, but a coming twist is visible on this same timaframe and could be the sign of a return to an uptrend price if this latter gets over the cloud again while uptrend at around this twist.
The price of $16.924 is still resisting (is a resistance).
The lagging span (and so the price) is actually testing this resistance.
There is still a high probability of having the price getting over this resistance.
That would confirm the uptrend in daily timeframe.
The price of the Silver is getting over the Ichimoku Cloud (Kumo) in Daily timeframe.
The Chikou Span Line is actually testing the Ichimoku Cloud in Daily timeframe.
For low-risk investors, wait for the Chikou Span Line being constant over the Cloud and buy.
Fow medium-risk investors, you can buy now with TP = 17.089
Actually, the price of the Bitcoin (in Euro) is about to get over the 4-hour timeframe Ichimoku Cloud.
€6683 might be the first level (if crossed) that could be a confirmation of the uptrend. The Lagging Span Line (Chikou Span Line) should get completely over the Kumo Cloud in daily timeframe, that means that a full Japanese Candlestick should be over the Kumo...
6944€ is a key level to watch. I think that if a full japanese candlestick is formed under 6944€ then that would mean a continuation of the downtrend at least until 6909€ and possibly until 6722€ (lower price on 18th of May 2018).
Keep an eye on the Lagging Span Line that is actually testing the price of 6944€ (as the price does).