BTC Ichimoku Analysis on 4H medium timeframe.
Yesterday's pump broke the Kijun ( Dark Blue line ) on the 4H chart and is now getting resistance from the cloud.
It is important to note that the Tenkan (yellow line) broke clear above the Kijun which is a bullish cross.
If the Tenkan would go back to the Kijun, look for a test down again, as this would be an early sign of a new reversal.
If it can break through the resistance area and the thinner part of the cloud around 9300, it could likely retest the 9800 level where it encounter the mayor trendline from the 2017/18 high.
It is important to note that the Tenkan (yellow line) broke clear above the Kijun which is a bullish cross.
If the Tenkan would go back to the Kijun, look for a test down again, as this would be an early sign of a new reversal.
If it can break through the resistance area and the thinner part of the cloud around 9300, it could likely retest the 9800 level where it encounter the mayor trendline from the 2017/18 high.
