On Ichimoku, there is actually bullish crossover on 4H chart and price finally broken that red cloud and downtrend, however, for me to be bullish on this, we have to break 7800 level and stay above it, confirming that this consolidation for a couple of weeks actually may be a massive support, however, to be able to say that bottom is in we need to see a drop and bulls power to push price back up, forming V shape bottom like we did in February, currently I am afraid that we are far away from bottom even if price is able to get back to 8400 levels.
If you are long, currently price you don't want to to see is below 7300, things can get a little bullish from there, however, you may not see 8000$ for a while after that.
If it drops out of the triangle and lower trendline, panic may kick in and we will retest lower levels of support.
If you are long, currently price you don't want to to see is below 7300, things can get a little bullish from there, however, you may not see 8000$ for a while after that.
If it drops out of the triangle and lower trendline, panic may kick in and we will retest lower levels of support.
Comment:
While we are above the cloud, we can be bullish.
