Bitcoin Surpasses Ichimoku Cloud, Signaling Bullish Momentum
Bitcoin Technical Analysis
Bitcoin (BTC) surpassed key resistance, rising over 5% to $93,500 within 24 hours. The asset has moved above the "Ichimoku Cloud," indicating a bullish momentum shift.
- The Ichimoku Cloud is used to identify support and resistance, as well as trends in price actions.
- BTC's breakout allows the cloud to serve as support, potentially halting price pullbacks.
- Current focus is on resistance at $100K, followed by highs above $109K.
- Support is established at $88,550, aligning with the 200-day SMA and the Ichimoku cloud.
- A drop below this support would negate the bullish outlook.
Altcoin Performance
Major altcoins including XRP, DOGE, ADA, ETH, and SOL have not experienced a similar bullish breakout above the Ichimoku Cloud despite Bitcoin’s rise.