Chartered Market Technician. Cycles, crowds, psychology. I don’t predict — I observe structure. Less noise. More signal.
Joined on 15th November 2024
Boston, MA
Learn how to properly use the time cycle tool combined with a practice called valid trend lines. Plus, see why Bitcoin might be at the end of a larger, 12 year cycle in addition to ending the most recent 4 year cycle..
In this analysis and educational post, I am examining Ethereum while also explaining the various aspects of the tool and how they work.
The first chart shows the Tenkan-sen (in blue) and the Kijun-sen (in maroon). Price is below the two spans which is bearish, but the spans are still crossed bullish. Bearish crossovers tend to arrive very late, however.
Second chart is the Chikou span, also called the lagging span. It is projected 26 sessions in the past. The green Chikou span is looking to find support at a candlestick 26 periods ago. Passing through the candlesticks to the downside is more bearish confirmation
The third chart is the Ichimoku cloud, showing price losing the cloud as support, and it looking ready to flip bearish into the future.
All of these things are potentially negative signs for Ethereum
I'm using Bar Replay mode to rewind Bitcoin price action and walk you through how to read Japanese candlesticks day by day and consider them as data points to improve your trading outcomes.
