A pause or pullback with $BTC‘s current price action shouldn’t be unexpected. ✋
There are significant gaps between the bodies of the weekly candlesticks and the Tenkan-Sen, and the length of time these gaps have existed is four consecutive weeks.
These types of gaps often correct within four to six periods. Within the Ichimoku Kinko Hyo system, candlestick bodies and the Tenkan-Sen don’t like being far apart. They’re like a needy, jealous relationship; when one gets too far away, they panic and can’t wait to be back together.
The nearest support level is the Tenkan-Sen at $32,492, but because the Chikou Span is above the Cloud and because it responds to the same support and resistance levels as price, Senkou Span B at $33,790 is where support might be found if prices do pullback. 👉