Thursday, January 25, 2018

BitCoin, BTC/USD - Ichimoku Chart Study - Lower Low, Bulls & a Red line - Mid Week 4 of January 2018.
chart > 

Introduction & Primer to Ichimoku can be read at this link > click.


BitCoin falling from the All Time High, makes a Lower Low (see center) and takes support at the 50% Fibonacci retrace shown..
At this time the Index is around support at the Red Kijun Sen line (see center)
The Kumo expands (Green and Pink border...see right) this is Bullish.


Bulls keeping above the support at the Red Kijun Sen, can resume the up-trend again.
Bears seek to follow the Lower Low, by heading below the 0.618 Fibonacci Retrace (sub 7600).


Bears hope for life below the 0.618 Fibonacci (7565) to emphasize the lower low.
Despite lost momentum, Bulls seek to take out the All Time High taking off from support near the red line (11244).