$BTC
Bitcoin Faces 'Cloud Resistance' at $85K, Neutralizes Risk-Reward for Bulls: Godbole
Bitcoin's recent price action is constrained by the Ichimoku Cloud, creating an unfavorable risk-reward scenario for bullish traders.
BTC faces "cloud resistance." (geralt/Pixabay)
BTC faces "cloud resistance." (geralt/Pixabay)
Bitcoin's recent price action is constrained by the Ichimoku Cloud, creating an unfavorable risk-reward scenario for bullish traders.
The cryptocurrency is facing strong resistance around $85K, with support levels significantly lower at $75K.
This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
In markets, securing the best entry point is often half the battle, as timing and level significantly influence success by skewing the risk-reward ratio in traders' favor.
