QubitTech

Bitcoin: Analysis using Ichimoku 23/06/2020

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
H4
At D1, the Ichimoku cloud is directing upward, indicating an uptrend. Also, on H4, the cloud is directing upward, indicating the movement within the framework of the trend on D1.
Conclusion:
Most likely, a triangle correction model is being formed on D1. We believe that the price of Bitcoin could rise to $ 10,000.
RSI is overbought.
We recommend selling from a key Fibonacci level of 38.2% and 23.6%.

H1
At H4, the cloud is directing upward, indicating an uptrend. Also, on H1, the cloud is directing upward, indicating the movement within the framework of the trend on H4.
Conclusion:
Turning to a more significant time period, it is worth considering the sale from the level of $ 10,000. Locally, we recommend buying from the Ichimoku cloud . As a result, the RSI may form a divergence, which will be confirmation for lower of the price on H4.

Good luck!

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