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 Litecoin/Tether chart from Tradingview. Timeframe is 1D (day). As you can see the price movements are happening in the kumo (cloud). It it a place full of turbulences and weird price action without any trend whatsoever. Kumo twist that happened before is saying bullish, but nothing is sure before we see the candles above the kumo.
The 4H graph is a different situation. We have the price movements below the kumo, but kijun sen is now below the tenkan sen, which is a bullish signal. On the other hand, kumo twist that happened before twisted to a bearish signal. Trading in these conditions is very hard and I would wait for a better signal. Or you can just wait for a daily graph to show you the path. It will be intense!
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.
Follow me for more great charts. Steem power rewards from these posts will be used to upvote good steemit content and to flag spammers.
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