ETH/BTC: ICHIMOKU INDICATORS ANALYSIS

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ETH/BTC: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point0.0446
Take Profit0.0566
Stop Loss0.0406
Key Levels0.0265, 0.0406, 0.0506, 0.0566
ETH/BTC: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.0406). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.0566).


ETH/BTC: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (0.0506). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.0265).


On the four-hour chart the instrument is still rising. On the daily chart the Bearish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.0566) line and Stop Loss at the level of Kijun-sen line (0.0406).


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