On the short term, BTC shows a completed inverse H&S pattern that gave the price action enough momentum to pierce through the cloud dynamic resistance (edge to edge). The price, however, is in a rising wedge pattern and could test the short term support at 7,1k USD soon.
The arrows describe two possible (bullish/bearish) scenarios that are likely to happen if...
According to my TA, it's unlikely to see a close of the daily candle under 5,5k USD, but the candle wick could easily pierce down toward the 4k USD range, where huge buying volume will likely flood in.
Future cloud is bearish.
Healthy signs to keep an eye on: 200 EMA breakout; Cloud test; Ichimoku Base Line hit; Kumo breakout.
Once the bear market ends, the...
BTC on the daily chart seems to be in a falling wedge pattern.
During the first half of February, the price action could test the support level around the 200 EMA and then bounce to the dynamic resistance printed by the Ichimoku cloud around 13k USD.
The closing of the daily candle below the 200 EMA would likely start a long bear trend.
Falling wedge pattern for Viacoin, already called out by @cryptmocho. Here I try to delineate how the price action could behave against the cloud and give ranges for a leg-up.
Hope you enjoy.
Every feedback is highly appreciated.