Bitcoin H1: The Ichimoku Forecast for the European Session at 4.12.2024
04.12.2024 09:16
Technical
The most significant signal of the previous trading sessions was the intersection of the Tenkan and Kijun lines, which is considered as a signal of a change in trend in the market.
The second important signal is a change in the color of the Kumo cloud, which is marked with a vertical purple line on the graph . The appearance of a lilac color in the cloud indicates a change in the priority direction of movement to downward.
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 market price remains above the Tenkan and the Kijun lines, indicating a prevailing positive market sentiment.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
Currently, the Kumo cloud lines represent a dynamic support area for price.
The Chinkou 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 line, around the 96035.95 mark, the Kijun line, around the 95200.45 mark, the SenkouA line, at the 95933.73mark, and the SenkouB line, around the 96340.95 mark.
The second important signal is a change in the color of the Kumo cloud, which is marked with a vertical purple line on the graph . The appearance of a lilac color in the cloud indicates a change in the priority direction of movement to downward.
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 market price remains above the Tenkan and the Kijun lines, indicating a prevailing positive market sentiment.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
Currently, the Kumo cloud lines represent a dynamic support area for price.
The Chinkou 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 line, around the 96035.95 mark, the Kijun line, around the 95200.45 mark, the SenkouA line, at the 95933.73mark, and the SenkouB line, around the 96340.95 mark.