The top Cryptocurrencies technical analysis
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Key Points
- BTCUSD is ranging between levels 11501 and 6484
- ETHUSD may forming a new kumo breakout
- BTHUSD may start a new up trend
BTCUSD after the major fall of November 2017 is trying to recover with some minor reversals.
For the past 5 months is in a range but if we notice here 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 it formed there may continue.
But before we start looking for any potential bullish signals we need to have a cloud looking bullish and all the lines must be out of the cloud.
BTCUSD DAILY CHART
ETHUSD
Based on Ichimocu system it can be observed that the price is inside the cloud the kijun sen and the tekan sen seem to be in a bullish formation. The chikou span appears above the price.
The picture here seems to be neutral for the moment but with a touch of bullishness.
The clues here which may state a slide upward momentum are the chikou span with above the price , the kijun sen and tekan sen forming probable bullish behavior.
Now the price is in the cloud meaning that based on the Ichimocu system bulls might not be ready yet.
What we would like to see here is the possibility of the price to break out of the kumo and the chikou span also to be able to start looking for any potential signals.
ETHUSD DAILY CHART
On BTHUSD it can be observed that the price has formed a non-confirmed 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 confirmation of kumo break out.
To have that we need to see the chikou span out of the cloud so we can have the possibility of an early entry based on the Ichimocu system
BTHUSD DAILY CHART
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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