ETH/BTC: ICHIMOKU INDICATORS ANALYSIS

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ETH/BTC: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point0.0446
Take Profit0.0385
Stop Loss0.0464
Key Levels0.0442, 0.0450, 0.0439, 0.0464
ETH/BTC: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Tenkan-sen and Kijun-sen lines have become support (0.0442) and resistance (0.0450) levels respectively


ETH/BTC: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is below Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Kijun-sen and Tenkan-sen lines have become support (0.0439) and resistance (0.0464) levels respectively


On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (0.0385) and Stop Loss at the level of Kijun-sen line (0.0464).


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