BTC 3D Ichimoku Cloud Bear Market Behaviour
BTC historically after making a cycle ATH (All Time High) falls below the Ichimoku (IM) Clouds indicator (light and dark gray filled areas on the chart) on the 3D chart and holds it as ~ resistance during the Bear Market phase of BTCs cycle.
BTCs chance to escape once falling through the IM Clouds (shown at the orange arrow) is at the intersection between the light and dark grey clouds.
If BTC after a bullish move and setting in a cycle ATH does not get above the clouds, the Red arrows show how this indicator has defined our upper bound in the bear market phase of the next cycle.
Price has needed to gain some space / distance below these clouds and time in a re-accumulation zone to build up the momentum to break through this area in the chart.
BTC is currently exhibiting similar behavior further suggesting we are closer to a new cycle bottom than a new ATH (from this analysis alone).
Not Financial advice. Charts are developed for educational purposes only.
BTCs chance to escape once falling through the IM Clouds (shown at the orange arrow) is at the intersection between the light and dark grey clouds.
If BTC after a bullish move and setting in a cycle ATH does not get above the clouds, the Red arrows show how this indicator has defined our upper bound in the bear market phase of the next cycle.
Price has needed to gain some space / distance below these clouds and time in a re-accumulation zone to build up the momentum to break through this area in the chart.
BTC is currently exhibiting similar behavior further suggesting we are closer to a new cycle bottom than a new ATH (from this analysis alone).
Not Financial advice. Charts are developed for educational purposes only.
Related publications
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.