Bitcoin jumped to $42k successfully in July as we predict in first half of july in our charts and analyses. Today we share one of the very popular Japanese Indicator "The Ichimoku Cloud". Its not only indicator, its a complete system.
What ichimoku cloud indicate in Bitcoin chart?
1.Lagging Span line (Green): Lagging Span line is above 26 days old candle which showing Bullish Momentum in market.
2.Price Crossing the clouds: We can see in chart that BTC price is crossing clouds after 79 days which is very good sign for BTC. And now it is bullish till it run above cloud.
3. Cloud turning green: We saw green cloud from November 2020 to May 2021, which give 5 month bull trend and indicate in April that market can be bearish. Now Again Ichimoku cloud is turning green which indicate bullish momentum.
4. Conversation Line Crossing Base line: This is also indication of bullish trend reversal.
