Starting a new thread as the last one was getting long. See related ideas for bitcoin analysis since 7500.
Price has bounce out of Ehlers daily MA cloud which also corresponds to the 50% fib on the daily Ichimoku cloud. Price action is looking good and sentiment is bullish on BTC.
Price has bounce out of Ehlers daily MA cloud which also corresponds to the 50% fib on the daily Ichimoku cloud. Price action is looking good and sentiment is bullish on BTC.
Note
Ichimoku daily cloud for comparison:Note
Sentiment is still bullish as this appears to be another bounce off of the Kijun, or 50% fib.Note
Price ended up reversing direction and heading towards 8K. Watching this level price is bouncing off of the MAMA average, historically a great support area for BTC.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.