Cryptocurrency buying options for Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), VeChain (VET) and ChainLink (LINK)
The bull market is still raging, pullbacks are now buying opportunities for Bitcoin, Cardano, Ethereum, VeChain and ChainLink
Bitcoin (BTC)
Above: Bitcoin (BTCUSD)
I intend to hit multiple cryptocurrencies with this article and identify the short term re-entry / dollar cost average level. These levels are based solely on the Ichimoku charts. For Bitcoin, the first level of support is the Kijun-Sen at $ 57,000. Below is a confluence zone at $ 46,400 where there is a high volume node in the volume profile at Senkou Span B.
Cardano (ADA)
Above: Cardano (ADAUSD)
Cardano unfortunately has no further Ichimoku support on its daily chart. Similarly, until the cloud’s high (Senkou Span A) at $ 1.20 and the cloud’s low (Senkou Span B) at $ 0.96, the weekly chart is devoid of any Ichimoku support. However, over the next week, it appears that support levels increase by a considerable amount. Senkou Span A will be $ 1.50 next week and Senkou Span B will be $ 1.28. The second highest high volume node for 2021 is near the $ 1.28 value range.
Ethereum (ETH)
Above: Ethereum (ETHUSD)
Ethereum, unsurprisingly, has an Ichimoku chart very similar to that of Bitcoin. It’s almost like a troll that Ethereum hasn’t hit a new all-time high at just $ 2.70. For Ethereum, the next Ichimoku support level is below $ 3,800. And well below the Kijun-Sen, Senkou Span B is $ 3,344. So Senkou Span B could be an attractive area to buy. Senkou Span B is very, very flat and has been in a flat state for some time. This means that it is a robust support level and we are unlikely to see any sustained movement below this level on the daily chart.
VeChain (vocational training)
Above: VeChain (VETUSD)
VeChain is one of the few cryptocurrencies I’ve looked at that is currently positioned for a bullish entry. There is massive support below with the Kijun-Sen trading at $ 0.1233 and the Senkou Span B trading at $ 0.1202. In addition, Senkou Span B is flat and has been flat for a long time. If you want to see what kind of price action behavior Ethereum can experience when it drops to its Senkou Span B level, then take a look at VeChains’ current chart. The volume point of control (from the May highs) for VeChain is at $ 0.1132 so is already a strong support level.
Chain link (LINK)
Above: ChainLink (LINKUSD)
ChainLink is almost exactly like VeChain’s diagram. ChainLinkn is right above the Senkou Span B at $ 28.89, just above the Kijun-Sen at $ 28.49. Below those two Ichimoku levels, the VPOC for ChainLink is $ 26.88. ChainLink’s current price movement brings it to the strongest support level it will see on the daily chart. Any move under the cloud could catapult ChainLink into under $ 20.
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