Ichimoku analysis (4-hour chart)
Tenken-Sen- $57318
Kijun-Sen- $57700
BTCUSD is consolidating in a narrow range between $ 61234 and $58300 for the past two trading days. The intraday trend is slightly bullish as long as support $58300 holds. The pair is holding well above 4-hour Tenken-Sen, Kijun-Sen, and cloud. The pair has taken support near the 4- hour Kijun-Sen and 200- H MA, any violation below $58300 confirms minor weakness. It hits an intraday high of $61234 and is currently trading around $60222.
The near-term resistance is around $61700. Any indicative break above targets $64980/$69000.Major trend continuation only above $62000.
The pair's minor support is around $58300.A break below will drag the pair down till $57330/$340/$55450 is possible.
Indicator (4 Hour chart)
CAM indicator – Neutral
Directional movement index – Bullish
It is good to buy on dips around $59500-550 with SL around $57000 for TP of $65000.
