Bitcoin first: finding support in weekly bullish Ichimoku Clouds

Bitcoin has been pretty quiet over the last couple of months considered to its historic volatility and that means that analysis and content creators can either walk away when they, themselves, get disinterested; or we dig deeper into the charts, iterate different indicator systems we have developed and look to find signs we have got our bias correct or we need to reassess.

Lets take a closer look. Absolutely beautiful support on the cloud combination. Lots of candle bodied on the standard cloud and lots of wicking at the bottom of the crypto cloud. Now we do have that red angry patch to worry about but I think that will be a flicker and will be turning back to green in short order.

Due to the hidden bullish divergence on the Log MACD I am biased bullish, in addition to other TA. One thing is clear, no matter which way the tension breaks the move will be big.

Please see the linked ideas for my target setting on a bullish break