btc longterm analysis weekly with Ichimoku
Further analysis of monthly chart. We saw that at the start of the month the prices broke the bullish Gann fan trendline (red circle).
The prices are below the cloud which means that we are more bearish but we await a confirmation of the Ichimoku lagging span which has already made a first contact with the gann fan bullish trendline (pink circle) .
After this first contact we see the price and the lagging span which are recovering in buying force, which is a rather natural reaction with Ichimoku^^
But, the cloud twist (green circle) tells us that there is a high probability that the price move inside a big range.
Feeling reinforced by the last two weekly candles (blue circle) (see the closing in a few hours) which make a big wick on the tenkan and the kijun aligned.
in this case we will see the lagging span confirm and come out of the cloud so that the prices head towards the bottom of the range (around $3500)
The prices are below the cloud which means that we are more bearish but we await a confirmation of the Ichimoku lagging span which has already made a first contact with the gann fan bullish trendline (pink circle) .
After this first contact we see the price and the lagging span which are recovering in buying force, which is a rather natural reaction with Ichimoku^^
But, the cloud twist (green circle) tells us that there is a high probability that the price move inside a big range.
Feeling reinforced by the last two weekly candles (blue circle) (see the closing in a few hours) which make a big wick on the tenkan and the kijun aligned.
in this case we will see the lagging span confirm and come out of the cloud so that the prices head towards the bottom of the range (around $3500)
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.