Update: Clear Kijun support + rising Tenkan = upcoming TK cross?
Since the short squeeze we have seen strong support levels around the 1-day Kijun (7800 USD). Adding to this the Tenkan shows an upwards trend. A Tenkan-Kijun (TK) cross in the coming days could be a new, though relatively weak, bullish signal.
To (more) strongly confirm a bull market, this TK cross first needs to be supported by (1) BTC breaking the bearish support line (2) entering the cloud (3) breaking out of the cloud.
As shown in the figure, bearish and bullish support are expected to meet at around the 21st of May, this gives about a month of potential sideways price movement.
Cautiously bullish at the moment.
To (more) strongly confirm a bull market, this TK cross first needs to be supported by (1) BTC breaking the bearish support line (2) entering the cloud (3) breaking out of the cloud.
As shown in the figure, bearish and bullish support are expected to meet at around the 21st of May, this gives about a month of potential sideways price movement.
Cautiously bullish at the moment.