A Storm Brewing: Bitcoin Pierces Ichimoku Cloud, First Time Since 2020
After an action-packed weekend, the dust is settling. Opinions vary; news and rumors are abound. The data seems to suggest turbulent times ahead. According to some exchange’s data sets, Bitcoin pierced the Ichimoku Cloud. What does this mean? To make sure we’re getting everything straight, let’s recapitulate. Weekend Of Wonders In Bitcoin The Bitcoin network’s […]
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Bitcoin price is at a pivotal zone, nearing a potential point of no return for bulls. However, the weekend forecast could suggest sunnier skies are in the future, so long as BTCUSD holds above the weekly Ichimoku cloud. Here is a closer look at BTCUSD weekly timeframes “at a glance” using the Ichimoku Kinko Hyo. Bitcoin price is holding above the cloud | Source: BTCUSD on TradingView.com Weekly Bitcoin Price Action At A Glance Using Ichimoku Using nothing more than the naked Ichimoku chart above, BTCUSD weekly has touched and found support at the cloud – also called the....
The Ichimoku Cloud is a momentum indicator often used in technical analysis to gauge an asset’s trend. It is currently indicating that Bitcoin (BTC) is healthily recovering from an important support area. The cloud in the Ichimoku indicator is best described as a support line. If an asset goes too far high up the cloud, […]
Bitcoin price lost support yesterday at around $27,000 and is now below a critical level that the last two times it was lost, resulted in a 50% or more decline. Will this signal returning once again forecast sudden doom and cause crypto prices to rain down another 50% lower? Bitcoin Forecast Is Suddenly Cloudy The last several weeks of resilience in Bitcoin price action have been seemingly erased this week, as price fell below support at $27,000. While the rounded psychological number is important by itself, BTCUSD has now pushed below the bottom of the Ichimoku cloud on the weekly....
Bitcoin price is making another attempt at the time of this publication to take back $50,000 and hold. With the Ichimoku indicator turned on, the leading cryptocurrency by market cap is also trying to hold above the cloud. Losing the cloud under similar circumstances the last time around, resulted in one of the nastiest selloffs on record with Black Thursday in March 2020. Could such chaos be in the forecast for crypto? Holding Above Cloud Could Prevent Black Thursday Repeat Until either Bitcoin sets a lower low, or blasts cleanly above $50,000 and makes a crack at its current all-time....
Bitcoin price is only at $37,500 — a far cry from former all-time highs around $68,000. However, one visual technical analysis tool could show that overhead resistance is weak, and that the top cryptocurrency could rip right through what’s left. Could BTCUSD be back at all-time highs faster than most are ready for? Bitcoin Price Breaks Above The Monthly Ichimoku Cloud Technical analysts rely on a variety of tools to help provide signals to visually inspect and either manually or automatically take positions based on the results. One such tool, created by a Japanese journalist Goichu....