I think this is it... needed the last touch on that main support level to bring some logic to last weeks of market indecision.
:( looks like the texts are overlapping, that sucks ... Here's the snapshot of the chart when published (there the text are all visible).
:( looks like the texts are overlapping, that sucks ... Here's the snapshot of the chart when published (there the text are all visible).
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Forgot to add another possibility ( downtrend continuation to lower levels until new support ) ((( yellow arrows added ))Note
(add text regarding bottom level)Note
So far so good! :) following exactly my arrow!
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Today's push made this...
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Daily Chart Update - And Bitcoin, for now, is still going for it.
When the price entered that zone (circle) I would expect it to drop a bit due to clouds natural resistance BUT It broke that first resistance levels and currently is at the middle of an edge 2 edge trade to close above the cloud. If this happens, then this will be a very bullish indicator regarding daily price progression and Ichimoku cloud formation.
Since that $8000 range resistance has been broken, for now, it looks like it may go as high as 8750 followed by a correction that may hit that $8000 / $7850 (now support)
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And like I predicted, the price went to that area inside Ichimoku cloud and face heavy resistance pushing the price down to today's level. We're at the crossroad now...
I've updated the chart with the last speed fan and added the white likes that where the expected failed levels before reaching this bottom / support.
Personally, I think it will eventually move up after a few days of emotional trading at the bottom, once the weak hands have sold their btc bulls will take over.
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Looking at the daily chart and what I'm waiting to happen...
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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.