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BTCUSD stays in a sideways range as Ichimoku cloud caps gains
Technical levels point to a potential break: a daily move below Tenkan-sen would turn the bias negative, while sustained strength above the cloud base could open a move toward 67,280.
BTCUSD has remained in a sideways trading mode over the past few sessions, with price action showing only mild reactions to geopolitical developments and recent US inflation data, as attention shifts toward major central banks, according to Action Forex.
The analysis says near-term movement continues to be anchored by the daily Tenkan-sen at 63,620, which has formed a bull cross with the Kijun-sen on July 10.
On the downside, a falling and thickening daily Ichimoku cloud, with a base at 64,780, is described as capping gains and weighing on near-term action, while momentum has faded.
Action Forex highlights two key technical triggers: a violation of Tenkan-sen (negative) or the cloud base (positive) for an initial direction signal, with bears potentially confirming control on an extension below the daily Kijun-sen at 61,603 and support retesting near the 60,000 area; alternatively, sustained penetration of the daily cloud would expose a target at 67,280.