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$BTCUSD . Kumo support and consolidation

$BTCUSD Kumo support and price consolidation

 

The trading volume of bitcoin $BTCUSD has tapered off a bit since the last rebound.

With it, the price seems to be consolidating. We can see this from both the Kijun sen and kumo flattening.

Chikou Span suggest a trading range of $532 and $660.

However, we need to watch for the price level support at the Kijun sen. $565.

Should price dips below this, we may see a bearish cross confirmation from the Tenkan sen and Kijun sen.

Watch the support and for those who have a LONG position, have your risk management in place.

 

By iam802

Trend trading with Ichimoku