CandleFocus Bitcoin Records Major Bullish Signal, But There’s a Catch
2024-09-19
Author: Content Editor
The article discusses the current state of Bitcoin's price movement and the interpretation of technical indicators by cryptocurrency trader Josh Olszewicz. While Bitcoin is back above the daily Ichimoku cloud, indicating a potential positive signal for the bulls, the cloud itself remains in bearish territory. The Tenkan-Kijun also suggests the possibility of further downside. Olszewicz notes that previous Kumo breakouts this year did not lead to significant movements. The trader believes that a bullish breakout on the two-day cloud and a bullish TK cross would be necessary for a bullish continuation. At the time of writing, Bitcoin is trading at $61,986, showing a 2.9% gain over the past 24 hours.
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