Short

BTC - Potential Short-Term Shor

At the moment of typing this, BTC is testing its 1st Ichimoku Cloud Support on the 1hr chart. If that 1st IC support fails then it will become our new Resistance. We can also see that BTC is testing its lower level of its Bollinger Bands. For confirmation of the potential downwards momentum, wait for the Ichimoku Conversion Line (Blue) to cross back under the Ichimoku Base Line (Orange). If we just use the Ichimoku Cloud then we can see our next of potential level of support is the 2nd Ichimoku Cloud support at $36,000. If that 2nd support fails, then BTC will finally be in a short-term bearish trend because it will finally be in the Bearish Zone of the Ichimoku Cloud System. Looking at our Average Directional Index, the ADX line is 34 and the -DI (Red line) is at 35 and the +DI (Green Line) is at 11 indicating the short-term downtrend is strong. Good Luck

TradingThroughTheLens

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