Is Bitcoin Setting Up For Christmas Rally?

Price and time structures are hinting towards a Christmas rally, but key price levels must be maintained.

The Kumo Twist

Bitcoin (BTC) 4-hour Chart

One of the phenomena of the Ichimoku Kinko Hyo system is the Kumo Twist. The Kumo Twist is where Senkou Span A crossed Senkou Span B. Many Ichimoku authors and experts have identified this condition as an important one as it can delineate a specific time when trends seem to change. The level is even more critical if price is trading near the twist itself. From a price action perspective, the exact position of a Kumo Twist is the weakest level of the Cloud. Prices can move above or below the Kumo Twist with extreme ease. The 4-hour chart above shows where Bitcoin is/was trading during the New York late morning, early afternoon (1100 – 1500 EST). It’s an extremely precarious condition and a critical zone. This area is of extreme…