Bitcoin has been trading sideways at the price of $8.737. Watch for selling opportunities due to the current downward trend. Main downward target is set at the price of $7.500.
Ichimoku analysis:
Multi frame Ichimoku sitation:
H1 - Inside of the Cloud
H4 - Below the cloud
Daily - Inside of the Cloud
Currently, BTC is testing the support (Tenkan-sen) at the price of 8.690. The potential breakout of the support would confirm further downside movement and testing of $8.543 and potential test of $7.500. Resistance is set at the price of $8.900 (Kijun-sen).BTC did the breakout of the Ichimoku cloud to the downside and I see more downside in the next period.
