The case for a struggling $BTC in the short~midterm.
NOT FINANCIAL ADVICE
In this Ichimoku Cloud study, here are three bearish signals that we can clearly see on bitcoin's daily chart:
1. Price action playing out within the Kumo cloud, hitting Senkou Span A (leading Span A) resistance and trending down
2. Tenkan sen (blue conversion line) crossed the Kijun sen (base line) and trending down
3. Chikou span (lagging line) bouncing after hitting Kumo cloud and trending towards it
In conjunction with all of the above, diminishing volume is also a concern, probably a tell-tale sign for the announcement of #AltSeason2021.
Although it's hard to get bullish on these, there is still the oft chance that bitcoin Bulls decide to wake from slumber and push
BTC to new all time highs, but they need to break bitcoin out of the Kumo clouds first!
In this Ichimoku Cloud study, here are three bearish signals that we can clearly see on bitcoin's daily chart:
1. Price action playing out within the Kumo cloud, hitting Senkou Span A (leading Span A) resistance and trending down
2. Tenkan sen (blue conversion line) crossed the Kijun sen (base line) and trending down
3. Chikou span (lagging line) bouncing after hitting Kumo cloud and trending towards it
In conjunction with all of the above, diminishing volume is also a concern, probably a tell-tale sign for the announcement of #AltSeason2021.
Although it's hard to get bullish on these, there is still the oft chance that bitcoin Bulls decide to wake from slumber and push
BTC to new all time highs, but they need to break bitcoin out of the Kumo clouds first!
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.
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.