Weekly Analysis BTC via Ichimoku
Good start to the week,
Let us analyze at a glance the daily chart of BINANCE:BTCUSDT with Ichimoku Kinko Hyo. We use the traditional settings. There are other indicators in the analysis. We have developed and released them Open Source.
Trend:
The Kumo has been green for 55 days and is about 0.2% wide and about to reverse. The various lines confirm a downtrend situation. As anticipated in the previous analysis, price was moving toward the Kumo and is now within it, indicating a situation of extreme uncertainty.
The Kijun Trend indicator now indicates looking for short positions.
Heikin-Ashi:
The Heikin-Ashi confirm a downtrend memento, also there Kijun and Tenkan are crossing downward.
Supports and resistances:
- 32150.00 Fibonacci
- 30350.00 Chikou cusps and flat areas of Kijun and Tenkan
- 30000.00 Psychological threshold
- 29800.00 Chikou cusps and flat zones of Kijun and Tenkan
- 27950.00 Fibonacci
- 25000.00 Fibonacci
- 24800.00 Chikou cusps and flat zones of Kijun and Tenkan
For static price levels, the lower right chart plots the flat zones of Tenkan, Kijun, Senkou Span A and Senkou Span B on different timeframes, and the Chikou for the daily time frame.
For dynamic price levels, the Ichimoku lines can be observed: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term).
Conclusions:
In recent weeks, as anticipated, the situation has turned downward with considerable uncertainty. The Heikin Ashi are awaiting the price trend and the price is inside the Kumo.
It is possible to find a sideways/rebass ABC pattern indicating the following levels: E 25298, V 25514, N 27151, NT 29604.
It is important to evaluate the price close during the week on the following price structures:
- Bullish: 28700.00
- Bearish/Lateral: 26500.00
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
Let us analyze at a glance the daily chart of BINANCE:BTCUSDT with Ichimoku Kinko Hyo. We use the traditional settings. There are other indicators in the analysis. We have developed and released them Open Source.
Trend:
The Kumo has been green for 55 days and is about 0.2% wide and about to reverse. The various lines confirm a downtrend situation. As anticipated in the previous analysis, price was moving toward the Kumo and is now within it, indicating a situation of extreme uncertainty.
The Kijun Trend indicator now indicates looking for short positions.
Heikin-Ashi:
The Heikin-Ashi confirm a downtrend memento, also there Kijun and Tenkan are crossing downward.
Supports and resistances:
- 32150.00 Fibonacci
- 30350.00 Chikou cusps and flat areas of Kijun and Tenkan
- 30000.00 Psychological threshold
- 29800.00 Chikou cusps and flat zones of Kijun and Tenkan
- 27950.00 Fibonacci
- 25000.00 Fibonacci
- 24800.00 Chikou cusps and flat zones of Kijun and Tenkan
For static price levels, the lower right chart plots the flat zones of Tenkan, Kijun, Senkou Span A and Senkou Span B on different timeframes, and the Chikou for the daily time frame.
For dynamic price levels, the Ichimoku lines can be observed: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term).
Conclusions:
In recent weeks, as anticipated, the situation has turned downward with considerable uncertainty. The Heikin Ashi are awaiting the price trend and the price is inside the Kumo.
It is possible to find a sideways/rebass ABC pattern indicating the following levels: E 25298, V 25514, N 27151, NT 29604.
It is important to evaluate the price close during the week on the following price structures:
- Bullish: 28700.00
- Bearish/Lateral: 26500.00
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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