FX.co ★ Ichimoku cloud indicator analysis on Bitcoin for July 20th, 2022.

Bitcoin continues to trade above $22,000. In the Daily chart trend has turned to neutral according to the Ichimoku cloud indicator because price has entered the Kumo (cloud). The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) provide support. This support is at $21,400 and as long as price is above this level, bulls still have hopes for a move higher. The lower cloud boundary is at $22,600. Breaking below that level would be a sign of weakness. Resistance by the upper cloud boundary is at $28,800. Bulls need to break above the Daily Kumo in order to turn trend to bullish.