What is BTC momentum doing by Ichimoku? 
2024-12-19
Category: None

BTC has been bullish for a while. It is moving in an ascending channel. Price failed to break out of the big inside bar and pulled back to the Kijun Sen. Because Kijun Sen has been acting as support multiple times, I expect it to do the same this time.

Also, according to Ichimoku, the momentum is bullish. Kumo is thick and long (stable uptrend), and Tenkan Sen is still above Kijun Sen. Chikou Span is getting close to candles, the momentum is slowing down, but no sign of trend reversal. 

I expect the price to bounce on the Kijun Sen and then continue to go up to the top of the channel. 