Analysis: BTC faces ‘cloud resistance’ in $85K range, creating unfavorable risk-reward scenario for bullish traders

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ODAILY
04-14
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Odaily Planet News - CoinDesk joint executive editor Omkar Godbole wrote an analysis pointing out that Bitcoin faces "Cloud Resistance" in the $85,000 range, creating an unfavorable risk-reward scenario for bullish traders. Since Saturday, BTC has been challenging the lower limit of the Ichimoku balance sheet, which is around $85,000. It is reported that the Ichimoku is a technical analysis indicator developed by a Japanese journalist in the 1960s that can comprehensively insight market momentum, support levels, and resistance levels. Due to the increased demand for call options in the options market, Bitcoin's recent prospects may seem constructive, but as the cryptocurrency approaches key resistance levels that have limited upward movement in recent months, this means the risk-reward situation is not very favorable for those hoping to capitalize on the bullish outlook. Currently, Bitcoin faces strong resistance around $85,000, with support levels clearly below $75,000. (CoinDesk)

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