Ichimoku analysis (1-Hour chart)
Tenken-Sen- $37350
Kijun-Sen- $36508
BTCUSD surged above $40000 after Elon Musk tweet about Bitcoin. He said that Tesla will accept crypto if miners use clean energy. The pair is holding above $40000 for the past three hours after a long consolidation. Bitcoin is trading higher for one week and jumped more than 30% from a minor bottom around $30000. It hits an intraday high of $41050 and is currently trading around $40620.
The near-term resistance is around $41000. Any indicative break above targets $43000. Short-term trend continuation above $47000.
The pair's minor support is around $37800. Any convincing break below will drag the pair down to $36540/$34800/$30000. Any close below $30000 will drag the pair down to $26800/$20000.
Indicator (4-Hour chart)
CAM Indicator – Bullish
Directional movement index – Bullish
It is good to buy on dips around $39000 with SL around $37000 for TP of $47000.
