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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Breaks Out Of Ichimoku Cloud, Storms Toward $28,000

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
3 mins read
bitcoin ichimoku cloud

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Bitcoin price has made an intraday move higher, pushing above the Ichimoku cloud on BTC CME Futures daily charts.

This signal in the past sent the entire cryptocurrency market soaring higher. Will crypto once again continue to storm ahead, or is it about to rain more pain on investors?

Bitcoin Storms Above $28,000 After Technical Breakout

BTCUSD made a 4% move higher today. While the number is rather insignificant, the minor rally was enough for a major breakout of the Ichimoku cloud on daily timeframes.

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Importantly, the signal has only appeared on BTC CME Futures daily charts thus far. On spot BTCUSD charts, Bitcoin has a little more to climb. However, the breakout on the BTC1 continuous contract chart could be a prelude of what’s to come.

Shortly after price action peeked above the top of the cloud, the top cryptocurrency by market cap immediately stormed toward $28,000 per coin. And if history is anything to go by, sky could be the limit on higher prices.

bitcoin ichimoku

Bitcoin has breached above the cloud | BTCUSD on TradingView.com

Why Blasting Above The Cloud Could Mean Liftoff For Crypto

The Ichimoku cloud consists of Senkou span A and B. When these two spans twist it turns the cloud from green to red, or from red to green. The cloud itself also expands and contracts based on price volatility, and can act as support and resistance.

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Bitcoin “Throwback” Could Trigger Flawless Technical Bottom Formation

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Bitcoin escaping the Ichimoku cloud was a crucial breach of dynamic resistance. In the comparison above, BTC leaving the cloud in 2020 led to the most recent bullish rally in crypto. In 2021 after the second top at $68,000 per coin, Bitcoin then retested the cloud and fell right through it.

This time, not only did the retest hold, but today’s rally just pushed BTC CME Futures daily chart above the cloud, the Tenkan-sen, and the Kijun-sen. This means that according to the Ichimoku, there is very little daily resistance left. If Bitcoin does behave like the last time it left the cloud, it could be time for liftoff.

A close above the cloud could clear #Bitcoin for liftoff

2020×2023 pic.twitter.com/CtC9RyEXen

— Tony “The Bull” (@tonythebullBTC) June 20, 2023

Tony is the author of the CoinChartist (VIP) newsletter. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. 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’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

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’s 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’s 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.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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