Ichimoku Analysis for Ethereum
Good day dear readers,
Bitcoin has broken down and is indicating to go even lower. Normally this is bad news for the altcoins but when bitcoin is consolidating, altcoins have an opportunity to move up a little.
With Ethereum leading the way.
Ethereum on the medium timeframe (4H) is looking quite bullish. Since the 6th of October we have ripped from 0.010 up to 0.022, a nice 37% increase.
On the 4 Hour chart, We can see that the Ichimoku cloud is in a nice bullish trend, and if we can break above 0.022 I am expecting to continue the uptrend.
My target for now is the upper edge of the cloud on the daily: 0.025 and I am willing to take a 5% risk for my stop-loss.
Kind regards, R2.
Bitcoin has broken down and is indicating to go even lower. Normally this is bad news for the altcoins but when bitcoin is consolidating, altcoins have an opportunity to move up a little.
With Ethereum leading the way.
Ethereum on the medium timeframe (4H) is looking quite bullish. Since the 6th of October we have ripped from 0.010 up to 0.022, a nice 37% increase.
On the 4 Hour chart, We can see that the Ichimoku cloud is in a nice bullish trend, and if we can break above 0.022 I am expecting to continue the uptrend.
My target for now is the upper edge of the cloud on the daily: 0.025 and I am willing to take a 5% risk for my stop-loss.
Kind regards, R2.
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