For those asking and calling me a noob..
The Ichimoku Cloud is a chart used in technical analysis that shows support and resistance, and momentum and trend directions for a security or investment. It is designed to provide relevant information at a glance using moving averages (tenkan-sen and kijun-sen) to show bullish and bearish crossover points. So far since falling from 20k, btc has not been able to get above the moving averages ( blue and red line ) which denotes bearishness, weak buyers and strong sellers. The red cloud just shows the resistance areas and the bigger it is, the bigger that resistance is. it has just started forming, by the end of the month we will get a much better direction of btc, i am looking for a clean break of 6k by the end of the month.
So, unless the blue and red lines currently crossover and btc gets above 8500 it's going to remain very bearish.
To Be bullish, btc has to break 11k. there are many resistances from 6k to 11k. the path of the least resistance is often the way the market goes to.
6k has been tested many times, it has gotten weaker, each bounce btc made after touching 6k has gotten weaker and weaker over time. 6k is not going to hold out much longer. Bear market is coming and it will take a miracle to stop this.