Cryptocurrencies Bullish Technical View
Key Points
- BTCUSD Fresh Bullish Kumo Breakout
- ETHUSD Fresh Bullish Kumo Breakout
- XRPUSD may start a new up trend
BTCUSD
Based on the Ichimoku system the price is out of the cloud and the tekan sen and kijun sean seem to be in a bullish formation.
The chikou span is above the price meaning that the small uptrend was formed may continue.
But before we start looking for any potential bearish signals we need to have a bounce on the tekan sen or kijun sen.
BTCUSD 1H CHART
ETHUSD
Based on Ichimocu system it can be notice that the price is also above the cloud the kijun sen and the tekan sen seem to be in a bullish formation. The chikou span appears above the price.
Now the picture here seems to be bullish for the moment and we would be more confidence if the stochastic was below the 20 level.
Other clues here that may state a potential bearish momentum are the blue color of the cloud and the slope of tekan sen.
Now based on the Ichimocu system we would like to see here the possibility of the price to bounce on the tekan sen start looking for any potential signals.
On XRPUSD it can be observed that the price has formed a confirmed bullish kumo break out yet based on the Ichimocu system.
The tekan sen and kijun sen seem to be in bullish formation, the chikou span is above the price and the cloud seems to be on the bullish mode.
What we would like to see here before start looking for any potential signals is the bounce of the price on the tekan sen line.
About the Author:
Marios Athinodorou is TeleTrade’s market analyst and commentator. Apart from being an experienced trader, Marios is an advanced technical analyst and is interested in trading psychology. He has 7 years of trading expertise in Forex and CFDs, providing insights to share with all kinds of traders, from beginners to experts. Among others, Marios is delivering weekly trading webinars. Sign up for upcoming webinars, here.
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