Ichimoku analysis (1-hour chart)
Tenken-Sen- $56055
Kijun-Sen- $56583
BTCUSD has formed almost a double top near $58300 and shown a minor sell-off. The intraday trend is still on the higher side as long as support $54250 holds. The pair is holding above hourly Tenken-Sen and Kijun-Sen. Any close below Ichimoku cloud $55200 confirms minor bearishness, a dip till $53000/$51940 (200- H MA) is possible. On Mar 8th, 2021 the pair took support near 200- 4H MA. This confirms shows that BTCUSD must close below $49300 for a further trend reversal. The support to be watched is $55000. Any violation below targets $54250/$53700/$53000.
The pair's near-term resistance is around $58300.Any further bullishness can be seen if it breaks above that level. A jump till $62300 (127.2% fib)/$65000 is possible.
It is good to buy on dips around $56000 with SL around $55000 for TP of $62000.
