BITCOIN: Careful in the cloud.
We are just about to hit the ichimoku cloud on the 4hr TF.
Let's see if we can get some volume to back further movement up.
We might also get a strong rejection pushing us back into the lower part of the range.
The best bullish scenario (saving a massive PUMP) looks like this:
The bearish scenario (saving a massive DUMP) looks like this
Right now we can only wait and see, be careful and always practice proper risk management with Stop losses and trailing stops!
Let's see if we can get some volume to back further movement up.
We might also get a strong rejection pushing us back into the lower part of the range.
The best bullish scenario (saving a massive PUMP) looks like this:
- 1) We enter the cloud backed by a surge in buying volume
- 2) We consolidate against the 180 EMA and the resistance of the upper part of the range
- 3) We break above the cloud and leave it below us, starting a new uptrend
The bearish scenario (saving a massive DUMP) looks like this
- 1) Strong rejection of the cloud
- 2) We go back in to the lower range and conslidate there with lower volume
- 3) We breakdown below the range and turn it into resistance
Right now we can only wait and see, be careful and always practice proper risk management with Stop losses and trailing stops!
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