Bitcoin Market Overview Based on Ichimoku
Bitcoin / Tether
Let’s look at BTCUSDT market and use Ichimoku indicator for making analysis. The price reached the resistance zone formed by the downtrend line and Senkou A line. We got a price reversal from this zone. The market moved lower and found support at Kijun line. Now the current levels can be used for developing further upward movement. As the higher timeframes look bullish , we should expect that the price will be able to break the resistance zone and move above the cloud. It will give us a trend reversal signal and new buy opportunities. But for better buy signals we should wait for a breakout above 8000.00 resistance level .
Alternative variant is: the price breaks the uptrend line and 7300.00 support level . After that we should be ready to see the falling to 7000.00 support level and if the price breaks it too, the further falling to 6500.00 level.
P.S. If you think this idea is helpful for you, please like it. I will be very grateful for this!
Source: TW DLavrov