I wanted to do another update because btc has been looking ugly these last few days, but DON'T SELL HERE. Ichimoku is the Japanese system, and the bars are also a Japanese invention that originated as a method for traders to track rice price movements over 500 years ago. This system provides some clues as to what's coming, and BTC is hot in Japan lately, so I figured why not give it a try.
I expect that price will be eager to break right through the 61.8 and 78.6 lines, as they have both been tested several times from the downside already. Because of that, resistance is a possibility, but I am anticipating that the 61.8 gets smashed almost immediately. I expect price to reach upwards over the next 2-3 days, and there could be another huge upshot over the next 3-5 weeks, although anything can happen at any time and the downside risk is substantial. $400+ increase in the 20 or 30 minutes that I developed this chart serves as initial confirmation of my hunch. Keep Hunting Everyone.
I expect that price will be eager to break right through the 61.8 and 78.6 lines, as they have both been tested several times from the downside already. Because of that, resistance is a possibility, but I am anticipating that the 61.8 gets smashed almost immediately. I expect price to reach upwards over the next 2-3 days, and there could be another huge upshot over the next 3-5 weeks, although anything can happen at any time and the downside risk is substantial. $400+ increase in the 20 or 30 minutes that I developed this chart serves as initial confirmation of my hunch. Keep Hunting Everyone.
