Bitcoin H1: The Ichimoku Forecast for the Asian Session on 10.11.2024
10.11.2024 00:16
Technical
The key moment of previous trading sessions was the intersection of the Tenkan and Kijun lines. This signal is marked on the chart with a pink square and indicates a change in the trend to a downward one. However, subsequently the price was noted to have risen above the Tenkan line, indicating weakness in the downward momentum.
The second most important signal is the change in direction of the Kumo cloud, marked with a vertical purple line. A change in the color of the cloud to lilac indicates a transition of the priority direction of movement to downward.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is above the Tenkan and the Kijun lines. It may indicate an upcoming shift in market direction.
The Kumo cloud is colored lilac. It indicates the priority of the downward vector of price 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 on the Tenkan line, around the 76193.30, the SenkouA line, at the 76363.70, and the SenkouB line, around the 75658.15.
The dynamic resistance level is on the Kijun line, around the 76383.50 mark.
The indicator signals support a downward vector of price movement, so the search for the short positions entry points should be prioritized.
The second most important signal is the change in direction of the Kumo cloud, marked with a vertical purple line. A change in the color of the cloud to lilac indicates a transition of the priority direction of movement to downward.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is above the Tenkan and the Kijun lines. It may indicate an upcoming shift in market direction.
The Kumo cloud is colored lilac. It indicates the priority of the downward vector of price 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 on the Tenkan line, around the 76193.30, the SenkouA line, at the 76363.70, and the SenkouB line, around the 75658.15.
The dynamic resistance level is on the Kijun line, around the 76383.50 mark.
The indicator signals support a downward vector of price movement, so the search for the short positions entry points should be prioritized.