Bitcoin H1: The Ichimoku Forecast for the European Session at 22.12.2024
22.12.2024 09:16
Technical
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.
Trading takes place inside the cloud, which is a sign of a market instability. Cloud boundaries act as support and resistance levels 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 96649.75, the SenkouA line, at the 95923.27, and the SenkouB line, around the 97518.50.
Dynamic resistance levels are on the Kijun line, near the 97676.10, and the SenkouB line, near the 97518.50.
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.
Trading takes place inside the cloud, which is a sign of a market instability. Cloud boundaries act as support and resistance levels 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 96649.75, the SenkouA line, at the 95923.27, and the SenkouB line, around the 97518.50.
Dynamic resistance levels are on the Kijun line, near the 97676.10, and the SenkouB line, near the 97518.50.