BTCUSD Ichimoku Confirms Bullish
All 4 signals of the Ichimoku Clouds have confirmed each other to be Bullish. We pulled up above the 200 EMA to hit strong resistance at 1164 and couldn't close above it. RSI was overbought at the time so we came down and bounced off the 200 EMA and gained support from the Tenkan-sen Line. Price action also gave us a new support level from the valley of the Chikou Span at 10613.
We should see some sideways action here for a little bit or consolidation between 10613 and 1165. RSI is oversold currently though and could give us a push through the current resistance. If we do we still have a good amount of resistance above. Probably won't see a good move up until the 55EMA crosses the 200EMA.
During consolidation or slowly rising BTC we tend to see nice altcoin seasons. Expect to have some nice day trades coming up.
We should see some sideways action here for a little bit or consolidation between 10613 and 1165. RSI is oversold currently though and could give us a push through the current resistance. If we do we still have a good amount of resistance above. Probably won't see a good move up until the 55EMA crosses the 200EMA.
During consolidation or slowly rising BTC we tend to see nice altcoin seasons. Expect to have some nice day trades coming up.
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