{"id":431499,"date":"2020-07-20T20:00:34","date_gmt":"2020-07-20T20:00:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=431499"},"modified":"2020-07-20T17:31:21","modified_gmt":"2020-07-20T17:31:21","slug":"bitcoin-price-weekly-cloud-twist","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-weekly-cloud-twist\/","title":{"rendered":"Bitcoin Price Holds Again Over Weekly Cloud, But There\u2019s A Shocking Twist"},"content":{"rendered":"

Bitcoin price<\/a> may be trading sideways, but it continues to hold above a key level that in the past led to over 5,000% returns. BTCUSD has now held for its seventh consecutive weekly close above the Ichimoku cloud<\/a>, but there’s a shocking twist coming that could shake up the sideways trend.<\/p>\n

Bitcoin Price Closes Seventh Weekly Candle Above Ichimoku Cloud<\/h2>\n

The leading cryptocurrency by market cap has been consolidating below resistance for months now, preparing for its next major move. A rejection could potentially expose Bitcoin price to setting a new lower low, but a breakout above the current level could kick off a new bull market.<\/p>\n

Because of the possible implications of the tight trading range breaking, crypto analysts are scouring through price charts hoping to make sense of the confusing price action.<\/p>\n

Related Reading | This Unique Perspective on Bitcoin Charting Makes Bull Breakout Clear As Day<\/a><\/strong><\/em><\/p>\n

Some charting perspectives indicate a clear breakout<\/a> and retest already, while other takes hint at something more bearish ahead.<\/p>\n

Analysts are also relying on technical analysis indicators to help shed light on what to expect, and even that is cloudy. Bollinger Bands show the tightest contraction in years<\/a>, something that typically precedes an over 50% or more movement. Weekly MACD is still bullish, as are other key indicators.<\/p>\n

On the Ichimoku indicator, the market’s top crypto asset has been holding above the Kumo, or “cloud.” Bitcoin price<\/a> candles have now closed above the Kumo for seven consecutive weeks. But what exactly does this mean or suggest?<\/p>\n

\"bitcoin<\/p>\n

BTCUSD Weekly Ichimoku | Source: TradingView<\/a><\/pre>\n
Avoiding Kumo Twist Reversal Could Result In New Crypto Bull Market, 5000% ROI<\/h2>\n
Although Bitcoin price<\/a> has been holding strong above the Kumo<\/a>, the cloud on the Ichimoku indicator is beginning to “twist.”<\/p>\n
A “Kumo twist” can often be a sign of a reversal. In the image above, past Kumo twists clearly depict where and when reversals take place.<\/p>\n
The Kumo grows or shrinks in size based on an asset’s relative volatility<\/a>. When volatility drops, the Kumo thins and weakens, allowing price to pass through it like a hot knife through butter.<\/p>\n
The twist in Kumo on BTCUSD weekly price charts may be hinting at a breakdown. In the image below comparing past Bitcoin price cycles with current price action<\/a>, a breakdown was quickly bought back up once it touched the Kijun-Sen.<\/p>\n
\"bitcoin<\/p>\n
BTCUSD Weekly Ichimoku Zoomed Out | Source: TradingView<\/a><\/pre>\n
If the same thing plays out, crypto traders will have one more chance to buy the dip in Bitcoin price<\/a> at roughly $7,200 where the Kijun-Sen lies. After that, it could be liftoff into a new bull market.<\/p>\n
Related Reading | How Lengthening Bitcoin Cycles Conflict With Halving Driven Supply Theories<\/a><\/em><\/strong><\/p>\n
According to the last time Bitcoin price held above the Kumo on weekly timeframes, after the drop to the Kijun-Sen, the cryptocurrency rallied over 5,000%<\/a>.<\/p>\n
While this time very well may be different and BTCUSD could plummet here right through the Kijun-Sen, the conditions are similar to the last time Bitcoin went parabolic. And it could happen once again from here.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price may be trading sideways, but it continues to hold above a key level that in the past led to over 5,000% returns. BTCUSD has now held for its seventh consecutive weekly close above the Ichimoku cloud, but there’s a shocking twist coming that could shake up the sideways trend. Bitcoin Price Closes Seventh Weekly Candle Above Ichimoku Cloud The leading cryptocurrency by market cap has been consolidating below resistance for months now, preparing for its next major move. A rejection could potentially expose Bitcoin price to setting a new lower low, but a breakout above the current level could kick off a new bull market. Because of the possible implications of the tight trading range breaking, crypto analysts are scouring through price charts hoping to make sense of the confusing price action. Related Reading | This Unique Perspective on Bitcoin Charting Makes Bull Breakout Clear As Day Some charting perspectives indicate a clear breakout and retest already, while other takes hint at something more bearish ahead. Analysts are also relying on technical analysis indicators to help shed light on what to expect, and even that is cloudy. Bollinger Bands show the tightest contraction in years, something that typically precedes an over 50% or more movement. Weekly MACD is still bullish, as are other key indicators. On the Ichimoku indicator, the market’s top crypto asset has been holding above the Kumo, or “cloud.” Bitcoin price candles have now closed above the Kumo for seven consecutive weeks. But what exactly does this mean or suggest? BTCUSD Weekly Ichimoku | Source: TradingView Avoiding Kumo Twist Reversal Could Result In New Crypto Bull Market, 5000% ROI Although Bitcoin price has been holding strong above the Kumo, the cloud on the Ichimoku indicator is beginning to “twist.” A “Kumo twist” can often be a sign of a reversal. In the image above, past Kumo twists clearly depict where and when reversals take place. The Kumo grows or shrinks in size based on an asset’s relative volatility. When volatility drops, the Kumo thins and weakens, allowing price to pass through it like a hot knife through butter. The twist in Kumo on BTCUSD weekly price charts may be hinting at a breakdown. In the image below comparing past Bitcoin price cycles with current price action, a breakdown was quickly bought back up once it touched the Kijun-Sen. BTCUSD Weekly Ichimoku Zoomed Out | Source: TradingView If the same thing plays out, crypto traders will have one more chance to buy the dip in Bitcoin price at roughly $7,200 where the Kijun-Sen lies. After that, it could be liftoff into a new bull market. Related Reading | How Lengthening Bitcoin Cycles Conflict With Halving Driven Supply Theories According to the last time Bitcoin price held above the Kumo on weekly timeframes, after the drop to the Kijun-Sen, the cryptocurrency rallied over 5,000%. While this time very well may be different and BTCUSD could plummet here right through the Kijun-Sen, the conditions are similar to the last time Bitcoin went parabolic. And it could happen once again from here.<\/p>\n","protected":false},"author":517,"featured_media":431501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1119,1144,78790,6664,79529,4524,76835],"class_list":["post-431499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-ichimoku","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Holds Again Over Weekly Cloud, But There\u2019s A Shocking Twist<\/title>\n<meta name=\"description\" content=\"Bitcoin price may be trading sideways, but it continues to hold above a key level that in the past led to over 5,000% returns. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Holds Again Over Weekly Cloud, But There\u2019s A Shocking Twist","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-weekly-cloud-twist\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-weekly-cloud-twist\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/07\/bitcoin-price-weekly-cloud-twist-Depositphotos_41140407_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/07\/bitcoin-price-weekly-cloud-twist-Depositphotos_41140407_xl-2015-scaled.jpg?fit=2560%2C1494"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","ichimoku","xbt","xbtusd"],"dateCreated":"2020-07-20T20:00:34Z","datePublished":"2020-07-20T20:00:34Z","dateModified":"2020-07-20T20:00:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Holds Again Over Weekly Cloud, But There\\u2019s A Shocking Twist\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-weekly-cloud-twist\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-weekly-cloud-twist\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/bitcoin-price-weekly-cloud-twist-Depositphotos_41140407_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/bitcoin-price-weekly-cloud-twist-Depositphotos_41140407_xl-2015-scaled.jpg?fit=2560%2C1494\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"ichimoku\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-07-20T20:00:34Z\",\"datePublished\":\"2020-07-20T20:00:34Z\",\"dateModified\":\"2020-07-20T20:00:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/07\/bitcoin-price-weekly-cloud-twist-Depositphotos_41140407_xl-2015-scaled.jpg?fit=2560%2C1494","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/431499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=431499"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/431499\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/431501"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=431499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=431499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=431499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}