If we look at some of the bear triggers that Ichimoku shows we have a fairly large red cloud which typically means the bears are in control of the trend (thicker the cloud stronger the support and resistance), we also have the lagging span below and quite a distance away from price which is a fairly strong bearish signal from what i believe, aswell as the conversion line (blue line) cross below the base line (red line). We have closed a previous support line roughly around 45k, if BTC can hold the next support line at around 40k then hopefully we can enter a consolidation phase between 40k and 45k. If we break and close below the 40k mark we could be in for a bear cycle. It is crypto however so anything can happen really!
Let me know your thoughts
Cheers
Let me know your thoughts
Cheers