BTCUSD failed to find support by the H4 Cloud and created a sell signal
with that close below it. Ichimoku Sell, trail stop by the white equilibrium
line. Ichimoku aside, price still trades above the very critical 12713.25
level, and if breached it will expose the Monthly Pivot point at 8958.
But since there isn't much left of the month, wich holidays, it is a rather
unlikely scenario. More likely though is a drop towards the Weekly S2
and the SMA200, currently around 12800. Only a return and close inside
the Cloud will relieve downside pressure at this point.
with that close below it. Ichimoku Sell, trail stop by the white equilibrium
line. Ichimoku aside, price still trades above the very critical 12713.25
level, and if breached it will expose the Monthly Pivot point at 8958.
But since there isn't much left of the month, wich holidays, it is a rather
unlikely scenario. More likely though is a drop towards the Weekly S2
and the SMA200, currently around 12800. Only a return and close inside
the Cloud will relieve downside pressure at this point.