Here is my weekly 4H INDEX:ETHUSD Ichimoku Analysis for Week 1.
General outlook The overall market trend is still downwards and I expect that we will see more in Q1 downward pressure due to adjustment of earnings and the higher and higher possibility of, at least, a mild recession in the US and EU. The Crypto market will be also pointing further downwards as the stock and crypto markets are still highly correlated.
Ichimoku analysis My weekly analysis is based on the 4H chart.
Lagging Span is above Price and Cloud
Conversion Line crossed Base Line
Price is above the cloud
Currently Conversion Line, Base Line, and Kumo are flat / ranging
Currently no green Kumo twist
4H Resistance / Support Zone
Resistance between 1225 USD and 1232 USD
Support between 1185 USD and 1180 USD
Long Idea - When the resistance zone at 1230 USD turns to support, Kumo twist happens and Cloud + Base Line points upwards Take Profit Target: 1280 USD Stop Loss: Below Base Line
Short Idea - When Kumo cloud support at 1200 USD is broken and retested, and the price is below Cloud + Base Line pointing downwards Take Profit Target 2: 1150 USD Stop Loss: Above Cloud
Giao dịch đang hoạt động
Trade taken after the bounce of the support zone. Stop Loss: 1233 USD
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