The Bitcoin price has unfortunately fallen below the Ichimoku cloud on the weekly chart, but this movement is too early to call a bear market. The true signal in Ichimoku is the close. Weekly wick = normal. Weekly close below the cloud = warning. Two consecutive weeks of cloud below closes = trouble. The main risk is the price failing to reverse after slipping below the cloud. In this scenario, the market begins to price in trend loss, and the MA200 / $69,000 becomes a strong attraction zone. It's too early for panic, but we are in a decision zone that needs to be taken seriously. Alongside technical analysis, fundamental news from the global scene will clarify the process. The next 1 month is very, very important for how we will enter summer.
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The Bitcoin price has unfortunately fallen below the Ichimoku cloud on the weekly chart, but this movement is too early to call a bear market. The true signal in Ichimoku is the close. Weekly wick = normal. Weekly close below the cloud = warning. Two consecutive weeks of cloud below closes = trouble. The main risk is the price failing to reverse after slipping below the cloud. In this scenario, the market begins to price in trend loss, and the MA200 / $69,000 becomes a strong attraction zone. It's too early for panic, but we are in a decision zone that needs to be taken seriously. Alongside technical analysis, fundamental news from the global scene will clarify the process. The next 1 month is very, very important for how we will enter summer.