Trendline Break
The green descending line has been broken.
That is usually the first sign of reversal or at least a temporary bullish correction.
2. Ichimoku Cloud Support
You marked a support zone near the small green cloud.
Price is:
holding above support,
trying to stay inside/above the cloud.
In Ichimoku:
Below cloud = bearish
Inside cloud = transition/uncertainty
Above cloud = bullish
Currently it is in the transition phase.
Bullish Scenario (My Blue Arrow)
My projection suggests:
Retest support
Bounce from cloud/support area
Push toward the upper resistance/target zone
This setup becomes stronger if:
BTC closes candles above the cloud,
Tenkan-sen crosses above Kijun-sen,
Volume increases on breakout.
Potential outcome:
Move toward previous swing highs
Short squeeze possibility
The green descending line has been broken.
That is usually the first sign of reversal or at least a temporary bullish correction.
2. Ichimoku Cloud Support
You marked a support zone near the small green cloud.
Price is:
holding above support,
trying to stay inside/above the cloud.
In Ichimoku:
Below cloud = bearish
Inside cloud = transition/uncertainty
Above cloud = bullish
Currently it is in the transition phase.
Bullish Scenario (My Blue Arrow)
My projection suggests:
Retest support
Bounce from cloud/support area
Push toward the upper resistance/target zone
This setup becomes stronger if:
BTC closes candles above the cloud,
Tenkan-sen crosses above Kijun-sen,
Volume increases on breakout.
Potential outcome:
Move toward previous swing highs
Short squeeze possibility
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.