BITCOIN Ichimoku Cloud

Hi everyone 👋🏽

🕊 Wish y'all have a profitable lifestyle 🍀

📌 BTCUSDT- Daily Time Frame - Candlestick

📌 Ichimoku cloud - Support and Resistance

📍I would like to analyze Bitcoin from ichimoku's point of view.

📍 We have 3 very important elements in ichimoku cloud:

1- Tenkan sen

2- Kijunsen

3- Cloud

✍🏼 As we can see here, Tenkan is below kijunsen and also price has closed below them which can be a bearish signal

✍🏼 Price has entered the cloud and we are struggling to break the Span A; which can be really hard if the price has already closed below it

✍🏼 BITCOIN can see the 53k price zone that is combined with SPAN B ; which is a really strong support zone

⚠️ If price manages to break SPAN A and closes above that level seeing the SPAN B support zone is invalid

📍 In weekly time frame the tenksen is flat and is around 54k price zone; price is close to this level, so 54k price zone is more likely to happen

THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER

Comment:

With Bitcoin forming a double bottom in H:4 time frame ,

We probably will be seeing three retest zones.

Trade closed: target reached:

SPAN B has been touched.

Comment:

We are currently at a very important support line of previous ichimoku cloud