Bitcoin H1: The Ichimoku Forecast for the European Session at 23.11.2024
23.11.2024 09:01
Technical
Analysis of the market situation, developed in previous trading sessions, shows the intersection of the Tenkan and Kijun lines. Typically, this signal indicates an upcoming increase, but subsequently the price fell below the Tenkan line.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is now positioned between the Tenkan and the Kijun lines, indicating a temporary consolidation before a potential resumption of the trend.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
In addition, the price is above the Kumo cloud, which acts as a potential support zone.
Used by investors to identify a change in trend, the green Chinkou line is above the price on the chart.
Trading recommendations:
Dynamic support levels are located on the Kijun line, near the 98429.90, the SenkouA line, at the 97682.67, and the SenkouB line, near the 95456.95.
The dynamic resistance level is on the Tenkan line, around the 98862.90 mark.
The indicator signals predominantly support the upward vector of movement, so the upward bounce from the defined support levels signals are prioritized intraday.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is now positioned between the Tenkan and the Kijun lines, indicating a temporary consolidation before a potential resumption of the trend.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
In addition, the price is above the Kumo cloud, which acts as a potential support zone.
Used by investors to identify a change in trend, the green Chinkou line is above the price on the chart.
Trading recommendations:
Dynamic support levels are located on the Kijun line, near the 98429.90, the SenkouA line, at the 97682.67, and the SenkouB line, near the 95456.95.
The dynamic resistance level is on the Tenkan line, around the 98862.90 mark.
The indicator signals predominantly support the upward vector of movement, so the upward bounce from the defined support levels signals are prioritized intraday.