Bitcoin Weekend Forecast: Cloudy With A Chance Of Reversal

Bitcoin price is at a pivotal zone, nearing a potential point of no return for bulls. However, the weekend forecast could suggest sunnier skies are in the future, so long as BTCUSD holds above the weekly Ichimoku cloud.

Here is a closer look at BTCUSD weekly timeframes “at a glance” using the Ichimoku Kinko Hyo.

Bitcoin price is holding above the cloud | Source: BTCUSD on TradingView.com Weekly Bitcoin Price Action At A Glance Using Ichimoku

Using nothing more than the naked Ichimoku chart above, BTCUSD weekly has touched and found support at the cloud – also called the Kumo.

The blue conversion line is above the maroon-colored base line, indicating the market is still bullish, but consolidating. A bullish trending market would see Bitcoin price trading above both lines.

Touching the cloud itself isn’t always significant. However, only weekly timeframes, retesting the same cloud is what kickstarted the

Keep reading this article on Newsbtc.com.

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