|   Technicals


  |   Technicals


FxWirePro- BTCUSD Daily Outlook

Ichimoku analysis (4-hour chart)


Tenken-Sen- $55259


Kijun-Sen- $57037


BTCUSD is consolidating in a narrow range between $57592 and 53400 for the past two days. The intraday bullishness can happen only if it breaks $58000.Bitcoin was one of the best performers this year and surged more than 95%. It hits a fresh all-time high around $64985 and shown a massive sell-off. The pair is trading above 4-hour Kijun-Sen, cloud, and Ten-Ken.


The near-term resistance is around $58000. Any indicative break above targets $59110 (100 4H MA) /$6000/$61700.Major trend continuation above $65000.

The pair's minor support is around $54300.A break below will drag the pair down till $53400/$53000/$50300/$49300 is possible. Significant bearishness only if it breaks $43000.


Indicator (4 Hour chart)


CAM indicator – Slightly Bullish


Directional movement index – Bearish


It is good to sell on rallies around $57900-$58000 with SL around $60000 for TP of $50300.

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.