Daily 15m, 1h and 4h Ichimoku Cloud analysis
Yesterday went according to plan pretty much, we even exceeded my target of $9250.
Today I see weakness in the clouds on all 3 charts. It will pull itself out of the 15 minute cloud one more time, which will put it over a thin bearish cloud. At the same time, the 1h will be over a pinbar cloud, and it will finally break the 200MA which it's been testing all night. The 4h will be right at a bearish twist as well. These factors combined, I believe we see a $200 to $300 drop. 9k might hold, but 8.9k is certainly not out of play. Time to play out: 8-12 hours.
Today I see weakness in the clouds on all 3 charts. It will pull itself out of the 15 minute cloud one more time, which will put it over a thin bearish cloud. At the same time, the 1h will be over a pinbar cloud, and it will finally break the 200MA which it's been testing all night. The 4h will be right at a bearish twist as well. These factors combined, I believe we see a $200 to $300 drop. 9k might hold, but 8.9k is certainly not out of play. Time to play out: 8-12 hours.
Note
SLIGHT hickup with $300 pump in 2 hours there. Could we still play out what I purposed above? Most would say no way at this point, but this could also be a fakeout before the breakdown. Time will tell, but I'm sticking to my guns.Note
Lol sooo, slightly off on this one, but who could have seen this coming? Will this forever be known as the Goldman Sach's pump? We may never know. Rejection at this level still might be incoming, creating the double top from a week ago.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.