Bitcoin Ichimoku cloud Analysis indicates mixed signals across different time frames in terms of BTC price prediction. On one hand, on the daily chart, the BTC/USD pair has crossed below the Ichimoku cloud and testing to break below the 61% Fibonacci retracement level of 7,362. A break below this level could open doors for further drops towards the key support level of $6,000.
On the other hand, on the monthly chart, the pair is being supported by the monthly Ichimoku cloud. we won’t know until January 2020 if this support is going to hold the pair from further drops.
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