bullish

Bitcoin

Cloud

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As noted by popular cryptocurrency trader Josh Olszewicz, Bitcoin is <a href="https://x.com/CarpeNoctom/status/1836608121227161816" rel="noopener noreferrer nofollow">back</a> above the daily Ichimoku cloud, which could be interpreted as a positive signal for the bulls.&nbsp;
However, the cloud itself remains in the bearish territory while the Tenkan-Kijun also could point to further downside.&nbsp;
Moreover, Olszewicz explained that the previous Kumo breakouts that took place this year did not go anywhere. The term "Kumo," of course, refers to the cloud that is located between Span A and B.&nbsp;
"Although this is certainly a more bullish picture than a few days ago, Cloud does not yet give its assurance of bullish continuation yet, that would take a bullish Cloud and Bullish TK cross," the trader said in a recent post.&nbsp;
A bullish breakout on the two-day cloud and a bullish TK cross would be enough for bullish continuation, according to Olszewicz.&nbsp;
At press time, Bitcoin is trading at $61,986 after gaining 2.9% over the last 24 hours.&nbsp;

Bitcoin Records Major Bullish Signal, But There’s a Catch

U_Today

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