Tuesday, February 13, 2018

BitCoin, BTC/USD - Ichimoku Chart Study - Fibonacci 61.8% and a Hammer - Mid Week 3 of February 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 61.8% Fibonacci retrace of the $0 to All Time High as marked.
The previous week's candle was a Hammer >> Link.


Bears after striking below the 0.618 Fibonacci Retrace (sub 7600), seek the Kumo (cloud).
Bulls need to take support at this critical level and move up to the Tenkan Sen (blue line).


Bears hope for life below the 0.618 Fibonacci and aim for the Kumo.
Bulls seek to retrace from the 61.8% Fibo and reach the Blue line (12945).