Bitcoin H1: The Ichimoku Forecast for the Asian Session on 13.11.2024
13.11.2024 00:16
Teknikal
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 Tenkan line remains below the Kijun line. However, the price has broken above both lines and moved higher.
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.
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 87542.95, the SenkouA line, at the 83464.45, and the SenkouB line, around the 81299.50.
The dynamic resistance level is on the Kijun line, around the 87599.80 mark.
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 Tenkan line remains below the Kijun line. However, the price has broken above both lines and moved higher.
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.
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 87542.95, the SenkouA line, at the 83464.45, and the SenkouB line, around the 81299.50.
The dynamic resistance level is on the Kijun line, around the 87599.80 mark.