4 Hour BTC Analysis using formations, Ichimoku, RSI and Stoch.
Refer to text on chart.
Trade active
This is exactly what I was looking for. We got the bearish engulfing after an inverted hammer.Note
BTC has broken out of the wedge on the 4 hour and is seeing some rejection at the long-term Bear Trend Line. If the cloud closes with this Bullish Kumo Twist and above the Kijun I will close my trade.Trade closed manually
Given the candle confirmation but then the trade went south with a big bullish candle through the Kijun and bottom of the cloud. However, price shot back down hard going back through the bottom of the cloud but did not break back below the kijun. Also getting a Bullish TK cross. all of this put together it is time to close this trade and incur a small loss rather than risk a larger one. Another good Trading opportunity will come.
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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.