I am currently seeing BTCUSDT as bearish according to Ichimoku. My view is that we should only look to take short trades if price breaks below the support level at 17622. You can expect price targets, or other zones of support, around 16300 and 15000.
If you would like to view the full analysis, starting at the weekly level, going to the 4H chart, then look below:
Weekly:
Daily:
Using daily again to find possible zones of support/price targets:
Intraday analysis and next steps:
Even on lower timeframes I would only consider shorts right now. The picture is bearish across multiple timeframes.
What do you think?
If you would like to view the full analysis, starting at the weekly level, going to the 4H chart, then look below:
Weekly:
Daily:
Using daily again to find possible zones of support/price targets:
Intraday analysis and next steps:
Even on lower timeframes I would only consider shorts right now. The picture is bearish across multiple timeframes.
What do you think?
The chart is still bearish on the 4H chart and above. Retracements are a normal part of a downtrend. The retracement only turns into a trend change if we get a TK cross, kumo twist, kumo breakout, and chiko breakout. I will update this idea if that happens.
I would only trade short if we break support on the 4H chart or get a strong downtrend on the 1H chart.