Bitcoin – Dual Breakout Zones ahead
Bitcoin has two breakout zones near its current value area. These breakout zones are based on the 1h chart. If price can reach back above the cloud, the Tenken-Sen cross above the Kijun-Sen, and the Lagging Span cross above the cloud and remain above price, we will have a breakout signal in the Ichimoku system.
Additionally, above that zone is a breakout to another Gann angle in the Square of 90. Following a breakout to above that angle, we then follow Gann’s Rules of Angles, which states a break and hold of an angle means we test the next angle above, which is near the 8300 value area.