Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood 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
Ichimoku Cloud
ETH still bearish after a failed rally. 1. We have leveled out around 1122 over the last 3 days. The Chikou Span (green) is showing do immediate direction but is moving closer to price. If we stay ranging between 1000-1300 chikou will eventually start to push up against price action, and we could start to see a reversal.
2. The gap between Tenkan and Kijun is very wide, Kijun will stay flat for another 3 days unless we have a dramatic price move up, otherwise it will continue to fall after the 2015 high is taken out of the equation (once it is no longer 26 days behind current price). Price is bouncing off off the Tenkan (blue) as a resistance point. Remember Tenkan is the 50% re-tracement over the last 9 days, so price is in agreement with the tenkan line: over the last 9 days price is avg. of 1115. Price does not hangout around the mean very long.
3. Both Kumo Span A and Span B of the cloud are continuing downward and further away from current price. This shows strong momentum to the downside
4. Volume is increasing and showing bulls are fighting to hold above 1100, as orders get filled below these levels, support levels will grow weaker and eventually we will push through 1000 again to test the last local low of 875.
At this point the daily chart has not shown us any signs that bulls are in control, we have leveled out a bit, but until there is a move over 1200, we are sill in a downtrend.
You can look at the 6H or 3H charts to look for patterns of Higher Highs, and Higher Lows to catch early warning of a new trend, and then scale up to 12H to see if the same Higher High, shows on larger timeframes. Don't get caught in a Bull trap, wait for a confirmation on at least a 6H or 12H before trying to call the bottom. I personally will wait for the Daily to show me HH,HL.
When to Look For A Bitcoin BottomI want to go on the record with what I will be looking for in the future with Bitcoin BITFINEX:BTCUSD . I have been consistent in my thesis since October 2021 that the bullish cycle of cryptocurrencies was ending upon the failed breakouts of the All Time Highs. Since November I have called the crypto winter and expected it to last through 2023.
On an esoteric note I have observed much optimism among the Bitcoin Maximalists (Maxis) as they continue to "Dollar Cost Average". I have always been critical of this strategy as a Technical Analyst but many believe it is their best hope for acquiring an asset without concern for price. Bitcoin will always go up over a long enough timeline, right? I think that this lingering optimism is categorically not indicative of a bottom. A bottom is when the mainstream narrative is that an asset is a horrible investment and will never go back up. The way this narrative changes is with price decline over a sustained time to build frustration and boredom. It is for that reason I predicted that the crypto winter would need to last more than one full year following the November high or possibly into two years.
From a Technical Analysis perspective using Ichimoku Cloud theory I have observed that price tends to be attracted to the most notable feature of Ichimoku, the Cloud, following a rapid price rise and then decline (otherwise known as a bubble and bust). Once the Kijun Sen (green line) is breached following a rapid advance price tends to be attracted to the Cloud and does very little meaningful movement until the Cloud is reached. This takes both price to move and time to pass for it to occur. We can study past examples of Bitcoin's history for examples:
Bitcoin (Monthly) December 2019: There was a pump fake in Q1 2019 but price did not begin the next cycle until clearing the cloud following COVID
Bitcoin (Monthly) November 2015: Price declined and lingered following the 2013 bull cycle until interacting with the monthly cloud
Bitcoin (Weekly) September 2013: Dropping down to the Weekly as there is insufficient Monthly data this far back. The second leg of the 2013 cycle kicked off once price met the Weekly cloud.
Bitcoin (Weekly) October 2011: Price continued to decline following the 2011 cycle until it met the cloud at which point a bottom was found.
In these past examples a trader could have waited for enough time to pass that price would intersect the cloud and not miss the beginning of the next bull cycle. Technical Analysis is imperfect for predicting the future but it overlays an objective measure that encourages patience. That is what I hope to convey to those looking for a bottom during this bear cycle.
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood 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
$BTC #Dailychart Not showing any signs of reversing. #ichimoku BTC has a chance to stabilize here between 20k and 22k.
1) The distances between Chikou (green) and price action is a large gap, price often turns around when chikou runs into price.
Th gap between the last low and 26bars in the future is also very large, Both of these distances show momentum and if the gaps start to close we have slower momentum.
2) Tenkan/Kijun crossover is bearish, both the 26 day and 9 day averages confirm that BTC is pretty neutral. The price is good, maybe we sit here for a few days to a week before making another move. (News is not being factored in, this is just pure TA)
3) The gap in the cloud is wide, the cloud is bearish (red), and eventually the gap should shrink, it has a better chance of getting more narrow that it does wider, but anything can happen. The direction of Span A is bearish (angled down) and Span B is Neutral creating a resistance level.
if we consolidate here and don't drop between 20500ish, then we will see Span B stay flat for a while and Span A can start to close the gap in the cloud by moving up as the average of tenkan and Kijun consolidates sideways.
4) %B set to 50 SMA and 2.0 Standard Dev (50 day Bollinger bands), are showing that we are outside of the bands (below 0) and we are heading back within the bands (direction of signal is up towards 0). this is an oversold condition that looks to be stabilizing.
signal below 0.0 oversold.
signal above 1.0 overbought.
Overall bearish, 20k is a big number, we have a chance of hitting bottom but the only signal that says that is the oversold condition heading back into 2.0 StDev zone. There are a lot more signals saying we are continuing the downtrend.
Let's Learn Ichimoku Breakouts!My buddy Aimer asked me how to trade breakouts on futures yesterday. I answered with much more... including the theory of Ichimoku Cloud breakouts, how they have been used on Bitcoin Daily charts profitably for years, and how to incorporate my Spike Signal into confirming winning breakout trades (while avoiding losers). I wanted to share this educational content so that others can benefit!
GBPUSD down in H4 TimeframeComment:
Market is down based on H4 according to Ichimoku Trend Analysis.
Ichimoku Trend Analysis:
- Kumo (Senko span A and B) down
- Kijun sen down
- Tenkan sen down
- Chiko span below candles
Next Scenario:
Initial target is 1.21548, previous support. And since the Kumo is thin, market could reverse there.
If you want to trade in longer term, better to wait for a breakout of the support level.
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood 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 56 days, tapering slightly (now at about 15.54%). Again, all lines indicate a general downtrend. On the short term Tenkan crossed the Kijun in a downtrend. So the scenario continues to be bearish anyway.
The Kijun Trend indicator always indicates looking for short positions. The price was around the Kijun but did not make it past it and was rejected.
Heikin-Ashi:
For the week the Heikin-Ashi indicates a sharp downtrend.
Supports and resistances:
- 75000.00 from Fibonacci
- 67000.00 from all-time high
- 66001.41 from all-time high of the Chikou
- 51800.00-52600.00 from Ichimoku Flat/cusp areas of the Chikou
- 49000.00-51000.00 Fibonacci, psychological threshold and Kijun Weekly
- 44400.00-45600.00 from Ichimoku Flat/cusp areas of the Chikou
- 41200.00 from Ichimoku flat/cusp areas of the Chikou
- 39400.00 from Ichimoku flat/cusp areas of the Chikou
- 37000.00 from Ichimoku flat/cusp areas of the Chikou
- 35700.00 from Fibonacci
- 35000.00 from Ichimoku flat/cusp areas of the Chikou
- 33500.00 from Ichimoku flat/cusp areas of the Chikou
- 30300.00 from Ichimoku Flat/cusp areas of the Chikou
- 28700.00 from Ichimoku Flat/cusp areas of the Chikou
- 25000.00 from Fibonacci
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 a positive long-term sentiment and places the 0 to the upside on 75000.00. Price is now very close to level 1 at 25000.00 and 0.786 on 35700.00.
Conclusion:
BTC continues to be in a downtrend on the daily and weekly time frame. All lines confirm this and the Kijun both daily and weekly have fallen abruptly, particularly on the daily this has allowed the price to go above the Kijun. 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.
A significant element is provided by the Hosoda waves that are posed with a bearish impulse with the following targets:
- V: 21001
- NT: 16608.16
- N: 10909.16
- E: 5210.16
It is important to assess the close of the week and during the week on the following price structures:
- Bullish/Lateral: 28600.00
- Bearish: 27000.00
Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Decreased.
- BTC Dominance: Increased.
- Price of BTC: Decreased.
- Alt cycle expectation: Abrupt decrease.
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
#ETHUSD #ICHIMOKU daily analysis: still bearish.Overall we are bearish with a slight momentum loss, but the KUMO cloud is going to continue to fall further without a dramatic change in price with the next next few days. We can continue to range and hole the 1700 level while the KUMO and T/K level stabilize, but if we loose 1700, expect a further push down.
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood 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 49 days, compared to the previous week where it had tapered. Now it gets wider (now at about 16.18%). Almost all lines indicate a general downtrend. In the short term we note that the price is above the Kijun. Reading this in the overall context we notice though that the Kijun has plunged abruptly, repelling the price several times. So the scenario continues to be non-bearish anyway.
The Kijun Trend indicator always indicates looking for short positions. Since the price is on the Kijun it may change colour in the week.
Heikin-Ashi:
For the week the Heikin-Ashi indicates a downtrend although with indecisive candles.
Supports and resistances:
- 75000.00 from Fibonacci
- 67000.00 from all-time high
- 66001.41 from all-time high of the Chikou
- 51800.00-52600.00 from Ichimoku Flat/cusp areas of the Chikou
- 49000.00-51000.00 Fibonacci, psychological threshold and Kijun Weekly
- 44400.00-45600.00 from Ichimoku Flat/cusp areas of the Chikou
- 41200.00 from Ichimoku flat/cusp areas of the Chikou
- 39400.00 from Ichimoku flat/cusp areas of the Chikou
- 37000.00 from Ichimoku flat/cusp areas of the Chikou
- 35700.00 from Fibonacci
- 35000.00 from Ichimoku flat/cusp areas of the Chikou
- 33500.00 from Ichimoku flat/cusp areas of the Chikou
- 30300.00 from Ichimoku Flat/cusp areas of the Chikou
- 28700.00 from Ichimoku Flat/cusp areas of the Chikou
- 25000.00 from Fibonacci
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 now between level 1 at 25000.00 and 0.786 on 35700.00.
Conclusion:
BTC continues to be in a downtrend on the daily and weekly time frame. All lines confirm this and the Kijun both daily and weekly fell abruptly, particularly on the daily this allowed the price to go above the Kijun. Therefore a bearish equilibrium situation 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.
An interesting element is the Hosoda waves that signal an ABC pattern with the C point on the low of 2022-05-12, there are no rising lows and in fact the NT target is at 16245.00 while the N target is at 37734.84. Levels to keep in mind in case of a break or as a target.
It is important to evaluate the closing of the week and during the week on the following price structures:
- Bullish: 31800.00
- Bearish: 28700.00
Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Increased.
- BTC Dominance: Increased.
- Price of BTC: Increased.
- Alt Cycle Expectation: Decreased.
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
BTC 3D Ichimoku Cloud Bear Market BehaviourBTC historically after making a cycle ATH (All Time High) falls below the Ichimoku (IM) Clouds indicator (light and dark gray filled areas on the chart) on the 3D chart and holds it as ~ resistance during the Bear Market phase of BTCs cycle.
BTCs chance to escape once falling through the IM Clouds (shown at the orange arrow) is at the intersection between the light and dark grey clouds.
If BTC after a bullish move and setting in a cycle ATH does not get above the clouds, the Red arrows show how this indicator has defined our upper bound in the bear market phase of the next cycle.
Price has needed to gain some space / distance below these clouds and time in a re-accumulation zone to build up the momentum to break through this area in the chart.
BTC is currently exhibiting similar behavior further suggesting we are closer to a new cycle bottom than a new ATH (from this analysis alone).
Not Financial advice. Charts are developed for educational purposes only.
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood 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 additional indicators that we have developed and released Open Source, you can find them at the end of the analysis.
Trend:
The Kumo has been red for 21 days, getting thicker (now at about 9.64%) and is totally downtrending. All of the Ichimoku lines indicate a downtrend both individually and considered in their combinations.
The Kijun Trend indicator always indicates the possibility of seeking short positions.
Heikin-Ashi:
A series of particularly "strong" red candles continue below the Tenkan. Here too the Kumo is red, expanding and looking down.
Supports and resistances:
- 75000.00 from Fibonacci
- 67000.00 from historical high
- 66001.41 from Chikou all-time high
- 51800.00-52600.00 from Ichimoku Flat/Cusp areas of Chikou
- 49000.00-51000.00 Fibonacci, Psychological Threshold and Kijun Weekly
- 44400.00-45600.00 by areas Ichimoku Flat/Chikou Cusps
- 41200.00 by Ichimoku Flat/Cuspid Chikou areas
- 39400.00 from Ichimoku Flat/Cuspid areas of Chikou
- 37000.00 from Ichimoku Chikou flat/cuspid areas
- 35700.00 by Fibonacci
- 35000.00 from Ichimoku Chikou flat/cuspid areas
- 33500.00 from Ichimoku Flat/Cuspid areas of Chikou
- 30300.00 by areas Ichimoku Flat/Cuspids of Chikou
- 25000.00 by Fibonacci
For the various static price structures it is possible to 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 a long-term positive sentiment and puts the 0 on the upside at 75000.00. The price is now at the 0.786 level.
Looking at the 4H levels we see that the market range has narrowed and is now in the 25000.00-50000.00 range.
Conclusion:
The BTC is in a downtrend situation on the daily and weekly time frame. All lines confirm this.
Even the well-known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods are lined up in a downtrend.
From a fundamental standpoint the war and inflation situation, the dollar bring negativity to the markets. Right now BTC is correlated to US equities and in particular the NASDAQ and SP500 and they move in unison.
It is important to evaluate the close of the week and during the week on the following price structures:
- Bullish: 37000.00
- Bearish: 35000.00-33366.50
Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Decreased
- BTC dominance: Decreased
- Price of BTC: Decreased
- Alt Cycle Expectation: Stable (but with a Downtrend as also the MarketCap is going down and the dominance of Stable-coins are increasing).
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
Oil Price and financial crashes This chart shows the correlation between the oil price and the different financial crashes. During the melt up to a financial crash does the price of sky rocket and during the aftermath does the price crash.
The oil price of today only matches the oil price of the Russian energy crisis and the Great Recession. Seen in this chart is a slight pull back onto further continuation upwards as the war in Ukraine continues does the oil price continue upwards.
The supply chain crisis causes economies into a recession and this is also a reason to believe an increase in oil prices as oil is a stability.
Finding support ETHUSD After a clear breakout of the descending channel yesterday, ETH stopped trading above the 2960$ level. If BTC find support around the 2880-2860$ area where it could also find support by the EMA ribbon and hopefully get enough strength to break the red ichimoku cloud, we could see a further move to the upside above the 3000$ level.
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood 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 additional indicators that we have developed and released Open Source, you can find them at the end of the analysis.
Trend:
Kumo has been red for 14 days and getting thicker (now at about 6.5%) and all Ichimoku lines indicate a downtrend. Tenkan Weekly rises away from price nevertheless.
The Kijun Trend indicator always indicates the search for short positions.
Heikin-Ashi:
A series of particularly "strong" red candles continue below Tenkan.
Supports and resistances:
- 75000.00 from Fibonacci
- 67000.00 from historical high
- 66001.41 from the all-time high of Chikou
- 51800.00-52600.00 from Ichimoku Flat/cusp areas of the Chikou
- 49000.00-51000.00 Fibonacci, Psychological Threshold and Kijun Weekly
- 44400.00-45600.00 by areas Ichimoku Flat/Chikou Cusps
- 41200.00 by Ichimoku Flat/Cuspid Chikou areas
- 39400.00 from Ichimoku Flat/Cuspid areas of Chikou
- 37000.00 from Ichimoku to Chikou Plains/Cuspid areas
- 35000.00 from Ichimoku Chikou flat/peak areas
- 33500.00 from Ichimoku Flat/Cuspid areas of Chikou
- 30300.00 by areas Ichimoku Flat/Cuspids of Chikou
For the various static price structures it is possible to 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 are still showing positive long-term sentiment and puts the 0 on the upside at 75000.00. But the price is moving towards the 0.786 level.
Conclusion:
The BTC is in a downtrend situation on the daily and weekly time frame. All lines confirm this.
Even the well-known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods are lined up in a downtrend.
From a fundamental point of view the war and the inflation dollar situation bring negativity to the markets.
It is important to evaluate the close of the week and during the week on the following price structures:
- Bullish: 39500.00
- Bearish: 3714.00
Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Decreased
- BTC dominance: Increased
- Price of BTC: Decreased
- Alt Cycle Expectation: Marked Downtrend
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