Technical Analysis: Bitcoin, Ethereum and Litecoin

This article will discuss the current price of Bitcoin, Litecoin, and Ethereum through the lens of technical analysis.

Using the Ichimoku cloud charting indicator, we see that Bitcoin is on the verge of exiting the cloud.

Bullish cloud with Senkou Span A over B. Depending on the action over the next few days, this could be a great trade opportunity.

Adding the Ichimoku indicator to the picture, we have just entered the cloud.

Just like the current Bitcoin situation, we need to see a definitive breakout from the cloud before we can think of entering the trade.

Price inside of a cloud is a neutral signal and is difficult to capitalize on with a high rate of success.

A TK Cross occurred under the cloud which isn't as significant as a cross over the cloud but is still a good sign.

The cloud is skinny and recently "Twisted bullish," meaning a breakthrough could be on the way.

The only thing missing from this being a great trade opportunity is a Chikou span above the cloud.

Given enough time, the Chikou Span can easily make a move above the cloud, which would cause me to take this trade.