One thing I love to do is study ichimoku cloud patterns for eth and btc.
btc/usd has went through cloud on 1 hour.
I don't think it's done yet.
If you switch to 2 hour we can see it will likely crash through cloud soon, as well. I'd be surprised if it did not.
Daily says we are still likely, in a correction.
4h says it has reset for fuel.
2hour shows high likelihood of going to 5027-5097.
4hour says if it goes to this level then a further correction in a few days or weeks is going to bring it to ~4750
4 hour says if it goes to 4674, we run into a very cautious area.
I'm hoping this corrects at 4300-4800 max, but you never know in bitcoin. I am officially just holding neutral on my bitcoin positions.
btc/usd has went through cloud on 1 hour.
I don't think it's done yet.
If you switch to 2 hour we can see it will likely crash through cloud soon, as well. I'd be surprised if it did not.
Daily says we are still likely, in a correction.
4h says it has reset for fuel.
2hour shows high likelihood of going to 5027-5097.
4hour says if it goes to this level then a further correction in a few days or weeks is going to bring it to ~4750
4 hour says if it goes to 4674, we run into a very cautious area.
I'm hoping this corrects at 4300-4800 max, but you never know in bitcoin. I am officially just holding neutral on my bitcoin positions.
Comment:
Minimum TP target would be 5097, edge of 2 hour cloud. I think its gonna go lower though.
Trade closed manually:
trade closed, target was off by $4.