Bullish Kumo Twist Developing on BTCUSD 3D Chart
Interesting bullish Kumo twist forming on the BTCUSD 3D chart (Bitfinex). The last time this occurred was January 31, 2016.
Because this is a macro time frame it's worth paying attention to; especially if the cloud begins to act as support as it clearly did in 2016 and 2017. And I don't need to remind anyone what took place during that period.
**Cloud Long Entry Signals - Four Criteria:
1. Price Above Cloud - Yes
2. Bullish Cloud - Yes
3. Bullish TK Cross - Yes
4. LS Above Cloud and Price - No
As the four criteria for a long entry have not been met (on the 3D chart) a long entry here is questionable (no matter how good the set-up looks). That said, on the 1D all four criteria have been met. So you will need to decide.
Let's see what happens.
**I must give credit to Josh Olszewicz for the long entry signals.
Because this is a macro time frame it's worth paying attention to; especially if the cloud begins to act as support as it clearly did in 2016 and 2017. And I don't need to remind anyone what took place during that period.
**Cloud Long Entry Signals - Four Criteria:
1. Price Above Cloud - Yes
2. Bullish Cloud - Yes
3. Bullish TK Cross - Yes
4. LS Above Cloud and Price - No
As the four criteria for a long entry have not been met (on the 3D chart) a long entry here is questionable (no matter how good the set-up looks). That said, on the 1D all four criteria have been met. So you will need to decide.
Let's see what happens.
**I must give credit to Josh Olszewicz for the long entry signals.
Comment:
The lagging span is now above the cloud. Full confirmation.