Bitcoin faces “cloud resistance” at 85 thousand dollars, and neutralizes the risk reward for bulls

In the markets, securing the best entry point is half of the battle, as timing and level significantly affect success by storing risk reward for merchants.

While the expectations close to Bitcoin (BTC) may appear constructive with Increased demand As for the upscale bets in the options market, the encrypted currency is close to the main resistance that culminated in the upward trend in recent months means that the profile of risk rewards for those who look forward to benefiting from the bullish expectations are less suitable.

Since Saturday, BTC has been paying against the Ichimoku cloud at about $ 85,000. It was developed by a Japanese journalist in the 1960s, a technical analysis index that provides a comprehensive vision of market momentum, support and resistance levels.

The index includes five lines: the leading A, lead in the period B, the transfer line, the Tenkan-Sen (T), the foundation line or Kijun-Sen (K) and a backward closing price line.

The difference between the pioneer is Span A and B Ichimoku cloud, with its upper and lower borders that act as possible and resistant support levels based on the price position for the cloud. When the prices are higher than the cloud, they indicate a bullish trend, while the prices below indicate a declining direction.

In early February, BTC fell to less than $ 100,000, trading under Ichimoku cloud. Since then, the lower boundaries of the cloud have been a strong resistance and supply area, which limits recovery pools.

Since BTC is trading near this level again, Bulls, especially those looking to reach the market with new bids, may want to be careful, as the immediate upward trend may be bound to resist the cloud by about 85 thousand dollars, while support is less than 75 thousand dollars, or approximately 10 thousand dollars from the continuous market price. The situation connects with a long -standing reward for a long time.

The refusal in the Ichimoku cloud on April 2 led to a large sale, which prompted BTC to less than 75 thousand dollars, which reflects a similar pattern after February 21.

Thus, the last interaction with the resistance of the cloud requires a close monitoring of the potential return of the pressure pressure. The recession of this resistance level will turn attention to the mark of $ 75,000.

On the contrary, the potential transition to more than $ 90,000, which represents an outbreak over the cloud, would indicate the resumption of the wider bull and a crowd to record altitudes.