Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Sorry guys I had to keep my hat in the closet, so I am posting without one for now. 
If you don't know what the is, it's the Ichimoku Cloud, one of my all-time favorites, I used it back in the 2018 analysis and the more recent 2022 analysis.
Apart from how helpful it is to identify bottoms, it's also great in identifying local trend limits, if you check how the price behaved around the cloud back in 2015 and 2019, when the cloud is "red" and the price enters it, it usually doesn't stop until it hits the highest part of the cloud at the entry time.
Last week's candle did close INSIDE the cloud, with the highest line of the cloud sitting at $43,444, in the past 2 cycles we took an average of 7 weeks to reach that point, so could we see 43k around mid May!
If you don't know what the is, it's the Ichimoku Cloud, one of my all-time favorites, I used it back in the 2018 analysis and the more recent 2022 analysis.
Apart from how helpful it is to identify bottoms, it's also great in identifying local trend limits, if you check how the price behaved around the cloud back in 2015 and 2019, when the cloud is "red" and the price enters it, it usually doesn't stop until it hits the highest part of the cloud at the entry time.
Last week's candle did close INSIDE the cloud, with the highest line of the cloud sitting at $43,444, in the past 2 cycles we took an average of 7 weeks to reach that point, so could we see 43k around mid May!