Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub
Good weekend,
As usual, here is our analysis of the week looking at a glance at the daily chart of BINANCE:BTCUSDT using the Ichimoku Kinko Hyo indicator with traditional settings. We used in support other indicators that we developed and released Open Source, you can find them at the end of the analysis.
Trend:
Kumo has been red for 63 days, getting thicker and thicker (now at about 23.39%). All lines continue to indicate a general downtrend. In the medium term, the Tenkan is flat. The scenario is always downtrend with the possibility of lateralization.
The Kijun Trend indicator always indicates looking for short positions.
Heikin-Ashi:
For the week, the Heikin-Ashi indicates a firm downtrend.
Supports and resistances:
- 25000.00 from Fibonacci
- 21001.00 from Hosoda waves
- 20000.00 psychological threshold
- 19100.00 Chikou cusp level or flat zones of Kijun and Tenkan
- 17082.00 Chikou cusp level or flat zones of Kijun and Tenkan
- 16608.16 from the waves of Hosoda
- 10909.15 from the waves of Hosoda
- 11000.00-13000.00 level Chikou cusps or flat zones of Kijun and Tenkan
For the various static price structures you can refer to the chart where the structures identified by the flat moments of Tenkan, Kijun, Senkou Span A and Senkou Span B on different timeframes are plotted, also Chikou price for the daily time frame.
Also, recall that the various Ichimoku lines serve as dynamic price structures: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term).
Fibonacci:
Fibonacci levels on the Daily still show us a positive long-term sentiment and places the 0 upside on 75000.00. Price is still below the 1 level, should it stay it will update accordingly.
Conclusion:
BTC continues to downtrend on the daily and weekly time frame. A strong downtrend is present.
The well-known exponential moving averages often used in the Crypto market on the 200, 50, and 20 periods are aligned in downtrend at the opening.
The Kijun trend is indicative of looking for short positions. Price has reached the first target of the Hosoda Waves we had indicated last week:
- V: 21001
- NT: 16608.16
- N: 10909.16
- E: 5210.16
It is important to evaluate the closing of the week and during the week on the following price structures:
- Bullish/Lateral: 21001.00
- Bearish: 19100.00
Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Decreased.
- Dominance of BTC: Decreased.
- Price of BTC: Decreased.
- Alt cycle expectation: Stable.
Thanks for your attention, happy to support the TradingView community.
Indicators used:
Analysis Tool
Kijun Trend Indicator
Ichimoku Support and Resistance
Chikou Support and Resistance
As usual, here is our analysis of the week looking at a glance at the daily chart of BINANCE:BTCUSDT using the Ichimoku Kinko Hyo indicator with traditional settings. We used in support other indicators that we developed and released Open Source, you can find them at the end of the analysis.
Trend:
Kumo has been red for 63 days, getting thicker and thicker (now at about 23.39%). All lines continue to indicate a general downtrend. In the medium term, the Tenkan is flat. The scenario is always downtrend with the possibility of lateralization.
The Kijun Trend indicator always indicates looking for short positions.
Heikin-Ashi:
For the week, the Heikin-Ashi indicates a firm downtrend.
Supports and resistances:
- 25000.00 from Fibonacci
- 21001.00 from Hosoda waves
- 20000.00 psychological threshold
- 19100.00 Chikou cusp level or flat zones of Kijun and Tenkan
- 17082.00 Chikou cusp level or flat zones of Kijun and Tenkan
- 16608.16 from the waves of Hosoda
- 10909.15 from the waves of Hosoda
- 11000.00-13000.00 level Chikou cusps or flat zones of Kijun and Tenkan
For the various static price structures you can refer to the chart where the structures identified by the flat moments of Tenkan, Kijun, Senkou Span A and Senkou Span B on different timeframes are plotted, also Chikou price for the daily time frame.
Also, recall that the various Ichimoku lines serve as dynamic price structures: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term).
Fibonacci:
Fibonacci levels on the Daily still show us a positive long-term sentiment and places the 0 upside on 75000.00. Price is still below the 1 level, should it stay it will update accordingly.
Conclusion:
BTC continues to downtrend on the daily and weekly time frame. A strong downtrend is present.
The well-known exponential moving averages often used in the Crypto market on the 200, 50, and 20 periods are aligned in downtrend at the opening.
The Kijun trend is indicative of looking for short positions. Price has reached the first target of the Hosoda Waves we had indicated last week:
- V: 21001
- NT: 16608.16
- N: 10909.16
- E: 5210.16
It is important to evaluate the closing of the week and during the week on the following price structures:
- Bullish/Lateral: 21001.00
- Bearish: 19100.00
Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Decreased.
- Dominance of BTC: Decreased.
- Price of BTC: Decreased.
- Alt cycle expectation: Stable.
Thanks for your attention, happy to support the TradingView community.
Indicators used:
Analysis Tool
Kijun Trend Indicator
Ichimoku Support and Resistance
Chikou Support and Resistance
- Scalping The Bull Indicator: linktr.ee/scalpingthebull
- Scalping The Bull Training: tinyurl.com/corsoindicatorepro
- AlgoTrading Training: tiny.one/corsopinescriptbase
- Crypto News: t.me/joinchat/StkXJM
- Scalping The Bull Training: tinyurl.com/corsoindicatorepro
- AlgoTrading Training: tiny.one/corsopinescriptbase
- Crypto News: t.me/joinchat/StkXJM
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