Bitcoin: Ichimoku Cloud Signal Still Pending

Bitcoin awaits a weekly close above the Ichimoku cloud to trigger the bull market buy signal outlined by Omkar Godbole. Four of six cycles since 2012 produced returns from +156% to +3266% until the sell signal, while two failures in June 2019 and February 2020 posted losses of 19-34%.

Price at $84268.76 sits inside Bollinger Bands with upper resistance at $84797.79 and lower support at $82617.65. The EMA50 at $83554.62 and EMA200 at $79611.1 act as layered support while RSI at 54.67 stays neutral and MACD golden cross at -37.87 reinforces the bullish structure, pointing to a probable test of upper band resistance before any deeper pullback to the 50-EMA.