A Storm Brewing: Bitcoin Pierces Ichimoku Cloud, First Time Since 2020

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After an action-packed weekend, the dust is settling. Opinions vary; news and rumors are abound. The data seems to suggest turbulent times ahead. According to some exchange’s data sets, Bitcoin pierced the Ichimoku Cloud. What does this mean? To make sure we’re getting everything straight, let’s recapitulate. Weekend Of Wonders In Bitcoin The Bitcoin network’s hash rate fell by half following a series of blackouts in China. Which should make us think about centralization. Also in the Asian market, a single wallet sold 8K BTC. Plus, fear took over when an anonymous account said that the U.S. Department of the Treasury was about “To charge several financial institutions for money laundering using cryptocurrencies.” This, of course, didn’t happen. On Sunday, a drastic fall saw Bitcoin going from $60K to $51K. That generated liquidations worth over $10 billion in futures positions, a new record that almost doubles the previous one. And,…

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