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