Bitcoin: The Price Is in the Cloud, What's Next?
Let's look at Bitcoin using Ichimoku indicator and a trading strategy based on it. The price is moving sideways in the cloud. It tells us about the range market conditions. We have to wait for a breakout. If the price breaks Senkou A line, it will be a bullish signal. The price will be above the cloud and we will have the bullish market. It will give us a new buying opportunity with profit targets at 12 000$ and 12 500$. Stop orders must be placed below the local swing low.
If the price breaks below Senkou B line, we will have the bearish market. The breakout below the local swing low and 10 000$ support will confirm the strength of sellers. We will have to expect further downward movement.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price breaks below Senkou B line, we will have the bearish market. The breakout below the local swing low and 10 000$ support will confirm the strength of sellers. We will have to expect further downward movement.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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