I was fiddling around with converting daily indicators to match the 4 hour chart when I noticed the support/resistance fight between these levels. Note how the 300 daily EMA has historically acted as support in the 2017/2018 bullrun. The 200 EMA on the daily is now working as a solid resistance, as it has done before. Now I mostly use Ichimoku nowadays, and as you can see the Kijun line has ever since the top at $10 000, acted as my support target. It's also moving inside the cloud. Ichimoku will therefore be the primary indicator. Do also notice the support trend reaching all the way back to December. Everybody knows this is a critical level.
My conclusion is that I will continue using these indicators as my tools for trading on long-term. And remember that in a highly manipulated market like this, it makes little sense analyzing anything less than the 4 hr chart if you're not a pro. This makes leverage trading harder of course.
My key levels for the next move: 9050, 8800, 8200, 8000
My conclusion is that I will continue using these indicators as my tools for trading on long-term. And remember that in a highly manipulated market like this, it makes little sense analyzing anything less than the 4 hr chart if you're not a pro. This makes leverage trading harder of course.
My key levels for the next move: 9050, 8800, 8200, 8000
Comment:
Back above daily Kijun. This is a strong support along with the 300 EMA. Even though I think one more touch under 8000 is possible, I dont think that it will close under. The weekly close will be a good marker for the next move. A rejection at the Tenkai (blue line) will be harsh on Bitcoin.
Trade closed: stop reached:
Nope :)