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:
The Kumo has been red for 70 days, and the width is stable (now at about 23.18%). The Tenkan, Ichimoku's fastest line, indicates a bullish situation on the short term both in its direction and with respect to price. In contrast, all other lines indicate a general bearish situation. The scenario is always downtrend with sideways bias.
The Kijun Trend indicator always indicates looking for short positions.
Heikin-Ashi:
For the week, the Heikin-Ashi indicate an uptrend downtrend with "strong" green candles but with a smaller body than those that drove the price down.
Supports and resistances:
- 25000.00 from Fibonacci
- 23321.00 from Hosoda waves
- 22600.00 Chikou cusp level or flat zones of Kijun and Tenkan
- 21001.00 from Hosoda waves
- 20000.00 psychological threshold
- 19100.00 level cusps Chikou 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:
The Fibonacci levels on the Daily still show us 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 with a glimmer of recovery considering the Tenkan..
The well-known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods are aligned in downtrend and the opening is stable.
The Kijun Trend indicates the search for short positions. Price has reached the first target of the Hosoda Waves that we had indicated last week: 21001 and further downward waves have been created with the N target on 23221.
It is important to assess the close 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: Increased.
- BTC Dominance: Decreased.
- Price of BTC: Increased.
- Alt cycle expectation: Upward.
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:
The Kumo has been red for 70 days, and the width is stable (now at about 23.18%). The Tenkan, Ichimoku's fastest line, indicates a bullish situation on the short term both in its direction and with respect to price. In contrast, all other lines indicate a general bearish situation. The scenario is always downtrend with sideways bias.
The Kijun Trend indicator always indicates looking for short positions.
Heikin-Ashi:
For the week, the Heikin-Ashi indicate an uptrend downtrend with "strong" green candles but with a smaller body than those that drove the price down.
Supports and resistances:
- 25000.00 from Fibonacci
- 23321.00 from Hosoda waves
- 22600.00 Chikou cusp level or flat zones of Kijun and Tenkan
- 21001.00 from Hosoda waves
- 20000.00 psychological threshold
- 19100.00 level cusps Chikou 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:
The Fibonacci levels on the Daily still show us 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 with a glimmer of recovery considering the Tenkan..
The well-known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods are aligned in downtrend and the opening is stable.
The Kijun Trend indicates the search for short positions. Price has reached the first target of the Hosoda Waves that we had indicated last week: 21001 and further downward waves have been created with the N target on 23221.
It is important to assess the close 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: Increased.
- BTC Dominance: Decreased.
- Price of BTC: Increased.
- Alt cycle expectation: Upward.
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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