21.04.202215:44 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Bitcoin for April 21, 2022.

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Bitcoin price is bouncing off the cloud support. In previous posts we warned traders that price was vulnerable to push lower towards the cloud support around $39,000-$40,000.

Price is about to move above the cloud resistance. This would be a bullish sign. Price is above the tenkan-sen (red line indicator) at $40,760. This is short-term support. Resistance by the kijun-sen (yellow line indicator) is at $43,280. Bulls need to break above this level in order to have more chances of moving higher and confirming the major reversal.

Alexandros Yfantis
Analytical expert of InstaForex
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