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Bitcoin Continues To Hold Above Weekly Ichi Cloud, But...
Bitcoin price continues to hold bullish above the weekly ichi kumo. However, price has now closed below the senkou span A and there's a kumo twist in the cloud turning from green to red. Kumo twists are weak points in the cloud, so even though BTC is holding bullish, the twist could allow it to pass through more easily. A fall to senkou span B in the low $7000 range would be the likely result of losing the cloud.
CoinChartist is run by Tony "The Bull" Severino, CMT, a technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!
CoinChartist is run by Tony "The Bull" Severino, CMT, a technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!
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