Bitcoin Analysis, Nice squeeze and breakout.

- Incoming Bullish Tenkan-Kijun cross on the daily... IF we can continue with a bit more of a rally into the next daily open. 10 hours left as of this writing.
- OBV passed the level I needed for a semi bullish confirmation on daily. However we need more volume to continue past $8,550 along with additional confirmation.
- Tom Demark Sequential on the daily showing bear exhaustion 2 days ago.

-Wicked back off of the 4 hour Tenkan-sen on that beautiful little breakout.(No surprise)

-So lets bust this 6 hour open... BTCUSD

Watch for rejection at this level ($8,550) BTCUSD and also the 6 hour Tenkan-sen (Bottom Chart), once we break that then we can watch for a trend break. As always I am watching volume very closely. Volume controls all other factors so I typically focus on volume in situations like this. (Stop losses are always my friend, so use the tools you are provided with for external factors that are not able to be seen with TA)

Educational link for Ichimoku cloud and the Tenkan-Kijun Cross
http://ichimokustrategy.com/ichimoku-strategies-the-tenkan-kijun-cross-setup/

Yorum:

Add a like and follow. ;) The more followers and ideas trending I get here the more analysis Ill dish out. :D