Ichimoku analysis (4-hour chart)
Tenken-Sen- $60368
Kijun-Sen- $59516
BTCUSD breaks significant resistance to $61700 after a long consolidation and hits an all-time high at $62740. The short-term trend is bullish as long as support $58300 (resistance turned into support) holds. The break of 3- month and wedge pattern confirms major up move The pair is holding well above 4-hour Tenken-Sen, Kijun-Sen, and cloud. It hits an intraday high of $62741 and is currently trading around $62649.
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 – Bullish
Directional movement index – Bullish
It is good to buy on dips around $61700 with SL around $59800 for TP of $69000.
