Ichimoku analysis (4-Hour chart)
Tenken-Sen- $37986
Kijun-Sen- $36842
BTCUSD is trading higher for the past two days and surged more than $4000. The pair should break above $41000 for further bullishness. The pair has halted one month of the bearish trend and jumped more than from minor bottom $30000.It hits an intraday high of $39490 and is currently trading around $38842.
The near-term resistance is around $41000. Any indicative break above targets $43000/$44780/$47000. Short-term trend continuation above $47000.
The pair's minor support is around $37200. Any convincing break below will drag the pair down to $35700/$33400/$30000/$28392/$26948 (61.8% fib). Any close below $26900 will drag the pair down to $20000.
Indicator (4-Hour chart)
RSI – Slightly bullish
Directional movement index – Bullish
It is good to sell on rallies around $39800-$40000 with SL around $43000 for TP of $28500.
