How does the Ichimoku cloud help traders in predicting price movements in the cryptocurrency market?

1 answers

• David WilsonApr 27, 2022 · 4 years ago
  The Ichimoku cloud is a powerful tool that can help traders predict price movements in the cryptocurrency market. It was developed by a Japanese journalist named Goichi Hosoda in the late 1960s. The cloud is formed by two lines, the Senkou Span A and the Senkou Span B, and it represents support and resistance levels. When the price is above the cloud, it indicates a bullish trend, while a price below the cloud suggests a bearish trend. The cloud also provides insights into potential reversal points and can help traders determine entry and exit points for their trades. Overall, the Ichimoku cloud is a valuable tool for traders looking to make informed decisions in the cryptocurrency market.
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