Bitcoin, Ethereum Technical Analysis – Buy on the daily chart?


– Wide range of cryptocurrencies with market capitalization mixed mixed / bearish signals within the Ichimoku Kinko Hyo system.

– Short-term resistance could trigger more sales or lead to higher violent driving.

Ethereum (ETHUSD) Ichimoku daily chart

Above: ETH very close to the bullish breakout.

The daily Ichimoku chart of Ethereum is interesting. And it's interesting because there are a number of "primes" that have occurred on this chart.

Ethereum has indeed moved above the cloud fund and in the cloud for the first time since April 2018 – 259 days have passed since Ethereum made a mention of a directional change of direction.

We can also observe the movement of Lagging Span over the chandeliers and cross over the Tenken-Sen and the Kijun-Sen.

The last time the Lagging Span moved above all three of those counters was April 16, 2018. If the Tenken-Sen can stay above Kijun-Sen long enough, then we'll look at the future cloud become green, resulting in a Kumo Twist with Senkou Span A crossing over Senkou Span B.

The only real obstacle to a strong entry into the daily chart here is that both the price and the Lagging Span are above the cloud.

In order for both of these conditions to be met, the Lagging Span should move to the area of ​​222.15.

A more realistic area would entail another 11 trading days in which the Lagging Span could easily move to the 171.02 area, but much can happen in 11 days.

Overall, this is the most bullish this chart appeared in almost a year.

Daily chart Ichimoku Cardano (ADA / BTC)

Above: ADA awaiting Lagging Span to cross over Kumo.

Full disclosure, I am a great Cardano bull and represents a significant part of my crypto portfolio.

So I add to this regardless of the chart as an investment.

But from the trading point of view, it seems really tasty.

First of all, we have a "Kumo-Twist" with cloud ahead which is green.

Then we have the Tenken-Sen above the Kijun-Sen and the price above both lines.

And we also have the price above the cloud.

The only hang-up here is the Lagging Span, which sits right against the bottom of the cloud – but that cloud is thin, so it could be thrown over it.

The last time the Lagging Span exceeded the daily cloud on the Cardano chart to meet a bullish input signal was … never. It never happened

This could be a big rally very soon.

Daily chart of Ichimoku Bitcoin (BTCUSD)

Above: the bullish conditions for the break of Bitcoin have not been respected since October 2017.

While the rankings of Cardano and Ethereum appear more bullish for the immediate future – the biggest guy in the block still has space and time.

In fact, it would always be better for traders and investors to make a small turn around to see which cryptocurrencies are outperforming the Bitcoin chart with the Ichimoku system and that they are only following the Bitcoin move – because those currently leading the charge will be the first to have a retreat from a big peak – while the rest that follows Bitcoin and late will still have a wave to drive.

There are not many conditions on the daily Bitcoin chart that scream "buy" again, just a few.

The first is the Tenken-Sen above the Kijun-Sen and the price holds on both lines.

The Lagging Span is just a hair above the Tenken-Sen and is a bit far from being close to trying to overcome the Kijun-Sen, but the most immediate resistance here that makes me serene is the proximity of the price to the cloud – which is a very, very thick cloud.

But this is interesting: do you know when the last time both the Bitcoin and the Laging Span have moved above the cloud to start a purchase condition on the daily chart? 8 October 2017.

Now it's a long time to wait for another real breakout condition on the daily chart.


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