BTC/USD - 1D Chart Update with Triple Ichimoku Clouds
Quick BTC/USD 1D chart update.
A range of 112K to bottom 9K price target for BTC/USD is still in play. 9K will probably be hit with just a quick wick downwards from 12K.
V Calculation (Negative)
V= B-(C-B) = D
C $25,160 - B $17,538 = $7,622
B $17,538 - (C-B) $7,622 = $9,916
Note that the above calculation is from the 1M Chart but i have added it onto this 1D chart.
Note that BTC is still under our 3 unique Ichimoku Clouds.
Here is a closer look at this 1d chart:
If we look at our main Ichimoku Cloud we can see that:
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid-point of the short-term momentum is sideways at the moment on this 1d timeframe.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid-point of the mid-term momentum is sideways at the moment on this 1d timefram.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that momentum at the moment is sideways. Note that the Lagging Span (Chikou Span) is still under the past price.
End of the Bear Market will be signified when the price crosses back above our Leading Span B (Senkou Span B) of our third largest Kumo (Cloud) and all 3 Kumo Leading Span A (Senkou Span A) create a Kumo Twist turning all 3 green. Note that the Leading Span B (Senkou Span B) is near the trope of the Descending Wedge Pattern.
BTC is still in its downwards Pitchfork Pattern and is getting very close the its Pitchfork Median Line. Note that the Price found Resistance from its Upper Light Green Pitchfork Resistance Line.
BTC is still in a Descending Wedge Pattern and a massive Ichimoku Y-Wave.
Looking at the Bollinger Bands, we can see that BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that both the Middle Band and the Lower Band are still pointing downwards and the Upper Band is starting to curve downwards. So we could see some consolidation before the next big move downwards.
Looking At the Average Directional Index (ADX DI) we can see that the Trend Strength is strong with the ADX (Orange Line) at 39.04 and still above its 9 Period EMA (Black Line). Positive Momentum has increased slightly but is still low with the +DI (Green Line) at 9.47. Negative Momentum has dropped but is still dominant with the -DI (Red Line) at 29.95.
For your viewing pleasure, here is a look at the amazing accuracy of all 3 of these unique Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) Clouds (Kumo) as support and resistance levels.
This is all my opinion so i hope this has been helpful.
A range of 112K to bottom 9K price target for BTC/USD is still in play. 9K will probably be hit with just a quick wick downwards from 12K.
V Calculation (Negative)
V= B-(C-B) = D
C $25,160 - B $17,538 = $7,622
B $17,538 - (C-B) $7,622 = $9,916
Note that the above calculation is from the 1M Chart but i have added it onto this 1D chart.
Note that BTC is still under our 3 unique Ichimoku Clouds.
Here is a closer look at this 1d chart:
If we look at our main Ichimoku Cloud we can see that:
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid-point of the short-term momentum is sideways at the moment on this 1d timeframe.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid-point of the mid-term momentum is sideways at the moment on this 1d timefram.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that momentum at the moment is sideways. Note that the Lagging Span (Chikou Span) is still under the past price.
End of the Bear Market will be signified when the price crosses back above our Leading Span B (Senkou Span B) of our third largest Kumo (Cloud) and all 3 Kumo Leading Span A (Senkou Span A) create a Kumo Twist turning all 3 green. Note that the Leading Span B (Senkou Span B) is near the trope of the Descending Wedge Pattern.
BTC is still in its downwards Pitchfork Pattern and is getting very close the its Pitchfork Median Line. Note that the Price found Resistance from its Upper Light Green Pitchfork Resistance Line.
BTC is still in a Descending Wedge Pattern and a massive Ichimoku Y-Wave.
Looking at the Bollinger Bands, we can see that BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that both the Middle Band and the Lower Band are still pointing downwards and the Upper Band is starting to curve downwards. So we could see some consolidation before the next big move downwards.
Looking At the Average Directional Index (ADX DI) we can see that the Trend Strength is strong with the ADX (Orange Line) at 39.04 and still above its 9 Period EMA (Black Line). Positive Momentum has increased slightly but is still low with the +DI (Green Line) at 9.47. Negative Momentum has dropped but is still dominant with the -DI (Red Line) at 29.95.
For your viewing pleasure, here is a look at the amazing accuracy of all 3 of these unique Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) Clouds (Kumo) as support and resistance levels.
This is all my opinion so i hope this has been helpful.
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