Ichimoku analysis (4-hour chart)
Tenken-Sen- $50484
Kijun-Sen- $49064
BTCUSD has shown a nice recovery after taking support near 200- 4H MA. The pair is trading slightly bullish and it should break above $52652 for a further up move. On Feb 28th, 2021 the pair shown a minor dip below 200- 4H MA and jumped sharply. This shows that BTCUSD must close below $47500 for further sell-off. The support to be watched is $49800. Any violation below targets $49050/$47780/$46290.
The pair recovered to $52652 slightly above 61.8% retracement of $58354 and $43021.Any further bullishness can be seen if it breaks above that level. A jump till $58350 (Feb 21st 2021 high)/$62300 (127.2% fib) is possible.
It is good to sell on rallies around $51800 with SL around $52650 for TP of $46300.
