Cryptofam 2.0 Ichimoku....Ichimoku....Ichimokumokumoku
As we have established an entry point for our trade at 5400-5600.
We continue our analysis on the ichimoku cloud as we believe
this cloud will determine when we will be able to enter
position.
Previous price history shows a drop into green portion of the cloud. Typically, when this happens,
the Stochastic RSI is also typically oversold at levels under 25%.
We will continue to follow our trade strategy of taking our long position as the stoch RSI trends upward into the 20% level.
We are adjusting our entry price to 5500 based on previous pattern pricing history.
Currently we are seeing a bearish divergence between price action and the stoch RSI and RSI which would indicate a trend reversal,
hopefully as in the previous patterns.
As we have established an entry point for our trade at 5400-5600.
We continue our analysis on the ichimoku cloud as we believe
this cloud will determine when we will be able to enter
position.
Previous price history shows a drop into green portion of the cloud. Typically, when this happens,
the Stochastic RSI is also typically oversold at levels under 25%.
We will continue to follow our trade strategy of taking our long position as the stoch RSI trends upward into the 20% level.
We are adjusting our entry price to 5500 based on previous pattern pricing history.
Currently we are seeing a bearish divergence between price action and the stoch RSI and RSI which would indicate a trend reversal,
hopefully as in the previous patterns.
Note
Charts are showing an entry date of May 9-13Note
FUNDAMENTAL SUPPORT:It is our objective to support this trade with fundamentals from various news sources. We believe that NEWS has an effect on the market.
For us,
If news is NEUTRAL, this is a preferred condition to enter a position.
If news is BULLISH, we will increase price targets and entry points accordingly
If news is BEARISH, we will wait until news provides us with a NEUTRAL or BULLISH CONDITION
newsbtc.com/2019/05/05/bitcoin-btc-price-could-test-6500/
Note
FUNDAMENTAL UPDATE: STRENGTH AS BTC hit 16 month TRANSACTION ACTIVITY HIGHcryptoglobe.com/latest/2019/05/bitcoin-s-confirmed-transactions-per-day-hit-16-month-high-as-its-price-keeps-rising/
Note
Aggregate fundamental NEWS from trading view is very positive.Note
Price is now 5600. Stoch RSI is trending down. We will take a long position as soon as the Stoch RSI approaches 20%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.