Bitcoin H1: The Ichimoku Forecast for the European Session at 5.2.2025
05.02.2025 09:31
Teknikal
Analyzing previous trading sessions, it is worth paying attention to the intersection of the Tenkan and Kijun lines, marked with a pink square. The fast Tenkan line fell below the Kijun line, which usually signals a change in trend to a downward one. However, later the price rose above the Tenkan line, which indicates the weakness of the downward impulse.
The second important signal is a change in the direction of movement of the Kumo cloud. This change is marked with a vertical purple line on the chart. The appearance of orange color in the cloud indicates a change in the main direction of movement to upward.
The current situation
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The price is currently above the Tenkan and the Kijun lines. It indicates a temporary slowdown in movement and a potential price consolidation.
The dynamics of price movement over a longer distance is determined by the Kumo cloud, which is now colored orange. Thus, this signal prioritizes the upward vector of price movement in the future.
The price is between the SenkouA and SenkouB lines, which act as support and resistance levels. To clarify the market situation, it is worth waiting until the price goes beyond the Kumo cloud.
The Chikou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic support levels are on the Tenkan and SenkouB lines, around the 96801.40.
Dynamic resistance levels are located on the Kijun line, near the 98421.75 mark and the SenkouA line, at the 99359.72 level.
The second important signal is a change in the direction of movement of the Kumo cloud. This change is marked with a vertical purple line on the chart. The appearance of orange color in the cloud indicates a change in the main direction of movement to upward.
The current situation
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The price is currently above the Tenkan and the Kijun lines. It indicates a temporary slowdown in movement and a potential price consolidation.
The dynamics of price movement over a longer distance is determined by the Kumo cloud, which is now colored orange. Thus, this signal prioritizes the upward vector of price movement in the future.
The price is between the SenkouA and SenkouB lines, which act as support and resistance levels. To clarify the market situation, it is worth waiting until the price goes beyond the Kumo cloud.
The Chikou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic support levels are on the Tenkan and SenkouB lines, around the 96801.40.
Dynamic resistance levels are located on the Kijun line, near the 98421.75 mark and the SenkouA line, at the 99359.72 level.