Technical analysis by ScottMelker about Symbol BTC on 6/3/2025

Today, I’m revisiting the Ichimoku Cloud system – a tool I used extensively in the past and still find incredibly useful for adding context to market structure. While I don’t use it as a primary system these days, it’s a fantastic way to gain a different perspective on price action, trend strength, and key support/resistance areas. The Ichimoku system, at its core, helps traders see the bigger picture at a glance by combining several indicators into a single, cohesive framework.Looking at Bitcoin’s daily chart through this lens, we see that the price has lost the Tenkan-Sen as support. The Tenkan-Sen – or conversion line – acts as a dynamic gauge of short-term momentum, and losing it can be a warning sign that momentum is stalling. The next logical level to watch is the Kijun-Sen – or baseline – which sits in the 94,000–95,000 range. A test of this level would align with a potential period of consolidation or pullback unless Bitcoin can reclaim the Tenkan-Sen quickly.It's also worth noting the Kumo twist – a shift in the color of the cloud from red to green – which signals a potential change in the longer-term trend bias. This is typically viewed as a bullish sign, especially when price is above the cloud itself. However, the Kumo twist alone isn’t a buy signal – it simply tells us the trend bias is starting to shift, and we still need price to hold above key support levels to confirm it.Overall, while the cloud remains bullish with price above it and the Kumo twist suggesting a shift in sentiment, losing the Tenkan-Sen is a yellow flag. It’s not a full reversal signal, but it does suggest caution in the short term. If Bitcoin can hold above the Kijun-Sen and reclaim the Tenkan-Sen, the uptrend remains intact. But if we see a deeper move into the cloud, that could signal a more prolonged consolidation or even a correction.This isn’t a forecast – just a reminder to stay balanced, challenge our own biases, and use different tools to see the market from multiple angles.