The trend line is the bitcoin uptrend line in the weekly timeframe, which has broken down. Of course, this failure is not substantial, and the red arrow indicates that the trading volume of the red candlesticks was below the 10-day average. So we can hope that candles and volume will not confirm the break of the trend line. Also, on the Ichimoku indicator, we have the support line of SinkoSpan A, which may prevent prices from falling below $ 46,000. But if this trend line is broken down, the next target will be the support of 29,000, and in case of possible failure, the strong support will be 20,000.
Also, the diameter of the Ichimoku cloud indicates a slow decline in the price and sideways trend of bitcoins. With this, until the bitcoin price stabilizes, there is no recommendation for long positions on cryptocurrencies.
Also, the diameter of the Ichimoku cloud indicates a slow decline in the price and sideways trend of bitcoins. With this, until the bitcoin price stabilizes, there is no recommendation for long positions on cryptocurrencies.