Bitcoin H1: The Ichimoku Forecast for the European Session at 14.11.2024

During previous trading sessions, the intersection of the Tenkan and Kijun lines, marked with a pink square, was observed on the Bitcoin chart. This signal indicates a potential change in the downward trend.
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 Tenkan and the Kijun lines are positioned above the current price. It indicates a negative market sentiment in the moment.
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.
Currently, the Kumo cloud lines represent a dynamic support area for price.
Used by investors to identify a change in trend, the green Chinkou line is held below the price on the chart.
Trading recommendations:

Dynamic support levels are on the SenkouA line, at the level of the 87845.88, and the SenkouB line, around the 85217.65.
Dynamic resistance levels are on the Tenkan line, around the 89511.85 mark, and the Kijun line, around the 89779.95 mark.