Bitcoin ichimoku Clouds - HUGE LONG - BUT ALSO SHORT?
Bitcoin lookin' phenomenal according to the Ichimoku Strategy. A long position is definitely something to consider right now at $45-46K looking at all timespans 15m-1D. Confirming with seeing that lagging span has crossed the cloud - but one thing to consider before following indicators blindly is that the red cloud it crossed has a very large area compared to the green cloud ahead, which essentially means that the bullish trend can still reverse to bearish.
So, what to do? Wait for a reversal and the lagging span to exit the red cloud fully on the X-AXIS and not just on the Y-axis. Additionally, while this happens a correction from $46k to $36-30k would prepare bitcoin for huge potentials - MINIMUM $59k.
Summary:
1. Potential short (by correction) from $46k-$36k or all the way to $30K, if something unfortunate happens.
Once the lagging span exits X-axis and the indicator Ichimoku is still bullish - HUGE potential - FULL LONG with first resistance at $59-60K. The next target easily being $100K.
Good luck guys.
So, what to do? Wait for a reversal and the lagging span to exit the red cloud fully on the X-AXIS and not just on the Y-axis. Additionally, while this happens a correction from $46k to $36-30k would prepare bitcoin for huge potentials - MINIMUM $59k.
Summary:
1. Potential short (by correction) from $46k-$36k or all the way to $30K, if something unfortunate happens.
Once the lagging span exits X-axis and the indicator Ichimoku is still bullish - HUGE potential - FULL LONG with first resistance at $59-60K. The next target easily being $100K.
Good luck guys.
Comment:
In case of insane breakout: possible to open a long position now and set stop loss at when lagging span goes into the cloud again. Then open short position. If this never happens, enjoy profit from long.