- Monthly & Weekly recap
- 4h - 240 min
As we were climbing above resistances of high importance, it looks like the price is somehow hesitating of what it should do of that so called bull-run. Intra-day numbers blink red during the beginning of the week and most article from crypto websites tends to bring fear. But a healthy bull-run isn't the one that from the rabbit, it is the one from the turtle that keeps going slowly but steadily until its objective.
But of course we must not be obsessed, keep feet on earth and impose stop losses well placed in case we were wrong. The objective of this article is to describe actual situation and try to fix those limitations we don't want to overpass.
1. Monthly & Weekly recap
On the monthly graph price is for now limited by SSB. First it tried an impressive growth above it but was rejected until now. However, we're at a point of great importance. Tenkan is at the very moment of this article trying to overpass Kijun, and this is happening into the cloud above SSB ! This is a very good sign on the Ichimoku for a bull trend. The trend will be confirmed if the price take its place above those to lines (and climb above the cloud at the same time).
On the weekly term price's growth is limited by SSA, the top of the cloud. But we're at the exact same point regarding Tenkan & Kijun W. They're at the cross point but this time the price is already above them and ready to step out of that terrible cloud. Configuration here seems more likely to climb and may lead the way to monthly time unit.
If you look at the price board, you would be afraid as the week is flashing red. But looking at price movement a little more than just the very short term you'll get bitcoins in the eyes. Long term trend line has been overpassed, actual movement has been support by Kijun daily since the beginning, and now the daily price is building a strong bullish fanion supported by Kijun D.
The only moment the price crossed under Tenkan D was to reinforce the movement. And it did it this week without breaking Kijun and forming a bullish fanion...
3. 4h - 240 min
Leaving the upward parallel channel invalidated the short term bullish flag. Price has been rejected by monthly resistances but is supported by daily supports. This underlines the fact that new investors are reforming ranks before attacking up again. In other word, it confirms the daily bullish fanion.
Bull-run isn't over yet. It may has just began. Daily numbers may be flashing red for now, they offer a perfect entry point : end of the bullish fanion that would allow the weekly price to stop its rest and climb again.
Entry point : price breaking up the daily bullish fanion after breaking the 4h parallel channel
Stop loss : daily price closing 3% under bullish fanion limits (9'200$ somehow, but I insist on the price closing as it can have sometimes long meshes but at the end of the day it stays in its trend)
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