BitcoinLong
BTCUSD: Analysis using Ichimoku 14/07/2020
H4
On D1, the cloud is directing downward, indicating an downtrend. The price also broke the downtrend line at D1.
Conclusion:
Locally, we recommend buying when the RSI reaches an oversold level on the H4 near the Fibonacci level of 38.2%.
H1
At H4, the cloud is directing upward, indicating an uptrend. The RSI of H4 is not far from the oversold level, indicating a possible end of the correction.
Conclusion:
We recommend buying when the RSI reaches an oversold level on the H1.
On D1, the cloud is directing downward, indicating an downtrend. The price also broke the downtrend line at D1.
Conclusion:
Locally, we recommend buying when the RSI reaches an oversold level on the H4 near the Fibonacci level of 38.2%.
H1
At H4, the cloud is directing upward, indicating an uptrend. The RSI of H4 is not far from the oversold level, indicating a possible end of the correction.
Conclusion:
We recommend buying when the RSI reaches an oversold level on the H1.
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Related publications
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.