It looks like the people on this platform don't want to learn anything by themselves so they have to watch others to do the technical analysis for them. I must say that Ichimoku Kinko Hyo can look like a very hard indicator to learn, but it's not. Actually by using it you can in just a few seconds pretty much read from the graph everything you needed to know. Please study it and stop consuming bad steemit content. Ichimoku Kinko Hyo works very well in the forex markets and it works pretty stable in the cryptocurrency markets too. It doesn't even matter which timeframe you choose.
This is Cardano/Tether chart from Tradingview. Timeframe is 1D (day). This chart is a real beauty as it shows the real power of trend and Ichimoku Kinko Hyo is really good for catching those. As you can see the candles are even now still below the tenkan sen, which in this situation works as a small resistance and kijun sen works as a big resistance. The prices didn't hit kijun sen for quite some time now. This graph is not saying that Cardano will go up, but lately we can see more of sideways movement, which could indicate another candle down, but also a candle up. The price can't be stale forever. We need to go to lower timeframes!
In the 4H graph we can see a few green candles breaking through not just tenkan sen, but also the kijun sen! I am also a big fan of japanese candlesticks and this could be a bullish engulfing. On the other hand, it's very soon to tell because the price movement is still happening below the kumo and there is a lot of work to do for Cardano to breakout from this bearish trend and set a new bullish trend. We just need to wait.
I mean this is pretty much it for a daily and 4H graph. You can also draw some lines to have a better entry, but with Ichimoku Kinko Hyo it is not really needed. I would also like to say that I don't see any point in selling crypto. The tech is still very new and cryptocurrencies can be very volatile so it's possible that what I analysed now will not work anymore in the next few hours or days. If I were you I would just wait for a nice bullish trend to buy more.
This post was made to show you that if you have the experiences you can write a post like this in less than a hour. Making technical analyses need to be quick because in the markets you need to react fast. Do you think posts like this one are worth so much that they have to be in the trending tab so often? The answer is no.
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