Since early september BTCUSD is trading below the Ichimoku cloud. The Senkou Span A (Bottom line in the cloud) currently functions as a resistance and Bitcoin needs to break this line in order to gain upward potential.
The Kijun Sen (blue line) however gives a bullish signal since it is trading above the blue line. The blue line is a measure of the average of the highest high and lowest low prices over a time span of 26 days.
We need to watch whether the bitcoin will fail to break into the cloud and potentially will aim for lower lows or whether it will gain momentum by entering the cloud.
The Kijun Sen (blue line) however gives a bullish signal since it is trading above the blue line. The blue line is a measure of the average of the highest high and lowest low prices over a time span of 26 days.
We need to watch whether the bitcoin will fail to break into the cloud and potentially will aim for lower lows or whether it will gain momentum by entering the cloud.