Bitcoin Holds Above Crucial “Ichimoku Cloud” as Analysts Remain Optimistic

  • Bitcoin has entered a consolidation phase within the lower-$11,000 region
  • This comes shortly after bears stepped up and catalyzed a swift rejection at $12,000 this past weekend
  • The cryptocurrency is now flashing some signs of weakness as it hovers above its key support at $11,000
  • Bulls have been able to hold it above multiple crucial levels throughout the past couple of days
  • This is leading some traders to remain firmly bullish on the benchmark cryptocurrency’s near-term outlook.

Bitcoin and the aggregated cryptocurrency market are currently consolidating after bearing witness to some explosive volatility this past Saturday.

Bitcoin, after hovering in the lower-$11,000 region, rallied as high as $12,000 in a matter of minutes following Ethereum’s explosive surge to $415.

These highs were not hit for long, however, as the selling pressure seen here ramped up and sent both BTC and ETH reeling lower.

Bulls were able to guard against a decline beneath $11,000, and it has been trading sideways ever since.

It is important to note that the crypto has remained above multiple key levels, including its “Ichimoku Cloud” and its crucial weekly support at $10,500.

Bitcoin Enters New Consolidation Phase Right Above Ichimoku Cloud Support 

At the time of writing, Bitcoin is trading up just over 1% at its current price of $11,250. This is around the price it has been trading at since the $12,000 rejection.

Bulls may soon move to catalyze some further upside, as there isn’t much resistance between BTC’s current price and $11,700 – which is a historical resistance level.

If this level is broken above in the near-term, it could provide the crypto with a boost to its macro market structure that allows it to climb significantly higher.

One factor also working on buyers’ favor is Bitcoin’s ability to remain above its Ichimoku Cloud.

While speaking about this, an analyst noted that while it remains above its monthly cloud, there isn’t enough data to understand what a break below it will entail.

“1M BTC: back above the Cloud for now… not really enough data for Cloud on this TF,” he explained.

Analyst: BTC Remains Bull Biased as Long as It Holds Above $10,500 

The Ichimoku Cloud isn’t the only support level that Bitcoin is holding above.

Another trader explained that the $10,500 region is crucial for bulls to defend, as BTC remains bullish as long as it trades above this level.

“BTC most important level relative to the recent weekend selloff: $10.5k 1W S/R level,” he explained.

He further notes that a high time frame close beneath this level may be enough to invalidate its macro strength.

JuiceStorm TV

Trading The UK, IE, US And AU Betfair Horse Racing Markets 24/7

The Betfair selections we are trading above are UK time. Only filled trades or bets appear on JuiceStorm TV.

Unsure how to get involved? Take a look here.

In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.

2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.

2023 less markets were traded – 17,459 – but a with a similar profit to 2022.

All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 traders in 2022.

All results for the 48,094 Betfair markets traded are here and the charts are here.

Top 100 Comments on

Racing Traders has over 20,000 registered members and more join every day. Find out why with a free trial.

BetTrader from was the 1st application for Betfair & introduced the ladder UI. Invest £99 in yourself with a JuiceStorm EXCLUSIVE crypto only offer for a BetTrader lifetime license and no further payments.

Successful Betfair Traders have the simplest Betfair Trading systems. The difference is their selection process, experience and execution level. Get that difference for yourself with automated trading by TradeHost.

Our AI articles are NOT written by a real person and are provided for entertainment only. They may contain content which is inaccurate but we are hoping our AI bot, Rose, will become better over time. The AI category is the ONLY section of that has zero human input.

Leave A Reply
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each JuiceStorm member is allowed two daily comments. Use them wisely.
  • Comments must be limited to the number of words displayed above the comment box.
  • Use branded capitalisation, eg. JuiceStorm, TradeHost, BetTrader, etc or John will get upset.
  • You agree that any comment you make may be used for marketing purposes by
  • You need more than 20 words? Click here for the largest Telegram community for Betfair Traders.