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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 consistently green for the past 12 days and expanding (currently around 7%) thanks to Senkou Span B continuing to rise. All the daily lines indicate an uptrend and only the Senkou Span B and the Kijun are flat and it is important to consider these flat lines that represent the sideways momentum in the medium and long term. The Kijun Trend indicator continues to indicate the search for long positions and the price is 8% away from the uptrend Kijun. Heikin-Ashi: The Heikin-Ashi are always above the Kumo and now highlighting this sideways and volatile moment with sudden color changes and pronounced ranges. Supports and resistances: - 75000.00 from Fibonacci - 67000.00 from historical high - 66001.41 from historical 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 - 40200.00-40800.00 from Ichimoku Flat/Chikou Cusp areas - 30300.00 from Ichimoku Flat/Cuspid Chikou areas - 37000.00 from Ichimoku Flat/Cuspid areas of Chikou - 35000.00 from Ichimoku Flat/Cuspid areas of Chikou - 33500.00 by Ichimoku Flat/Cuspid areas 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: The Fibonacci levels still show us a positive long-term sentiment and places the 0 level on the upside at 75000.00. The price is now between the 0.618 level and the 50% Hosoda level. The 0.618 level is acting as support. Conclusion: BTC continues to rise even though it's in a sideways momentum right now. There are still some important price structures indicated by the flat areas and the Kijun Weekly around 51000.00 and also - referring to the well-known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods, the price is holding above the 200 period. It is important to evaluate the closing of the week and during the week on the following price structures, with emphasis on the sideways momentum: - Bullish: 46100.00-49100.00 - Bearish: 44650.00-45563.00 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 - Expectation of Alt cycle: Fast increase 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
by TheSocialCryptoClub
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: After weeks of uncertainty, Kumo has been green again for the last 5 days and is starting to gain strength (around 4.38%) and all the various lines are showing an uptrend, including the upward cut of Tenkan on Kijun and Chikou just above the past price. The Senkou Span B and the Kijun remain flat, confirming the laterality that is still present. So the medium-term up-trend desire described last week was confirmed, the Kijun Trend Indicator always indicates uptrend. Heikin-Ashi: The Heikin-Ashi - which saw only one red candle last week - are this week out of Kumo and continue to present strong uptrend candles. Supports and resistances: - 75000.00 from Fibonacci - 67000.00 from historical high - 66001.41 from historical high of Chikou - 51800.00-52600.00 from Ichimoku Flat/cusp areas of the Chikou - 44400.00-45600.00 from Chikou Ichimoku Flat/Cuspid areas - 40200.00-40800.00 from Ichimoku Flat/Cuspid Chikou areas - 30300.00 from Ichimoku Flat/Cuspid Chikou areas - 37000.00 from Ichimoku Flat/Cuspid areas of Chikou - 35000.00 from Ichimoku Flat/Cuspid areas of Chikou - 33500.00 by Ichimoku Flat/Cuspid areas 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: The Fibonacci levels still show us a long-term positive sentiment and puts the 0 on the upside at 75000.00. The price is now on the 0.618 level. Conclusion: The BTC has confirmed the willingness to rise and this week in concert the Ichimoku lines confirm. There are still some important price structures indicated by the flat areas and also - referring to the well-known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods, the fast average with the average one performed a Golden Cross and now the price is on the level of the 200, considered critical by many traders. It is important to evaluate the close of the week and during the week on the following price structures, with emphasis on the sideways momentum: - Bullish: 44650.00-45563.00 - Bearish: 44420.75 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 - Expectation of Alt cycle: Fast increase 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
by TheSocialCryptoClub
2
BTC showing strength against DXY (Squared)This is BTCUSD divided by DXY ^ 2. My message is simple, though it is not foolproof in any way. Just an entertaining and interesting chart I've been staring at, in addition to BTCUSD divided by NASDAQ (BTCUSD/NASDAQ). The message is that even though the DXY is in an uptrend at the moment, perhaps with all the crypto uses popping up around the world, this time not only in the long term (financial institutions buying, banks offering crypto services, long-term holders buying back into BTC), but also in the SHORT term (uncertainty in the world, uncertainty in the stock market, Russian interest rate hikes, Ruble collapse and 20% interest rates by centralized Russian banks). Quite the interesting landscape, I must say. Not giving any advice, just pointing out that one indicator is showing strength above one timeframe's Ichimoku on one chart I've simply made up. Just hope it helps you formulate your own ideas and trade with more knowledge.
BITSTAMP:BTCUSD
by florasora
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 situation of uncertainty remains. The Kumo is always green, for 13 days now, but the Senkou Span B and the Senkou Span A continue to get closer and have a lateral bias. Despite the fact that almost all the lines, especially the most important ones, are trending downwards, the Tenkan and Kijun are communicating a certain willingness to uptrend but we are still in a downtrend. Furthermore, in these last days the candlestick amplitude is very small, a sign of momentary static, and that something might happen soon, quoting Larry Wiliams. The price is always under the Kumo - currently rather thin and therefore geometrically easy to overcome - and cannot overcome it after having touched it more than a month ago. The structure to which the price is glued is the Tenkan Weekly - placed downwards from the Kijun Weekly which is around 50,000. The Kijun Trend Indicator did not respond to the upward price cut and continues to be bearish, we are now at the third touch of this phenomenon. Heikin-Ashi: The Heikin-Ashi confirms the bearish movement despite the green, but still very thin Kumo, whose lines seem to be converging on a further cross. Also the price is below the Tenkan, which is below the Kijun and below the Kumo. Supports and resistances - 75000.00 from Fibonacci - 67000.00 from historical high - 66001.41 from historical high of Chikou - 51800.00-52600.00 from Ichimoku Flat/Cusp areas of the Chikou - 40500.00-40700.00 from Chikou's Ichimoku Flat/Cuspid areas - 37000.00 from Ichimoku Flat/Cuspid areas of Chikou - 35000.00 from Ichimoku Flat/Cuspid areas of Chikou - 33500.00 by Ichimoku Flat/Cuspid areas 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: The Fibonacci levels still show us a long-term positive sentiment and puts the 0 on the upside at 75000.00. The price is stable between the level 0.618 and 0.718. Conclusion: The BTC continues to show the desire to go up - three upward breakout of the Kijun - but the uncertainty of the moment and the presence of the price in or around the Kumo do not allow it to proceed and it is now sideways. From a fundamental point of view we can relate this situation to the current unstable geo-political situation that the market is experiencing through the presence of volatility and pessimism. It is important to evaluate the closing of the week on the following price structures, with emphasis on the lateral momentum: - Bullish 40400.00-40700.00 - Bearish 37000.00 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: Increased - Expectation of Alt cycle: Decrease Fast (dump) 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
by TheSocialCryptoClub
2
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: As indicated by several weeks, there continues to be a lot of uncertainty and volatility. Although the Kumo has turned green and has not changed color for six days, the Senkou Span B and Senkou Span A, Tenkan and Kijun are currently flat and looking at the various lines as an orchestra we find a downtrend situation with a sideways bias. Only the Tenkan is above the Kumo but the Tenkan Weekly continues to be below the Kijun Weekly. The Kumo of the present is in fact still rather large and acts as a very important structure: the price is literally glued to the Kumo. Also note the importance of the Tenkan Weekly which often repels the price. Also the Kijun Trend Indicator continues to change color abruptly. The last two overshoots were made with a clear bullish candle even if then the price quickly turns back Heikin-Ashi: The Heikin-Ashi is perhaps a better representation of the price trend at the moment as it removes some background noise and well represents the impossibility to break through the Kumo where the shadowless candles represent sharp price movements. In any case, the bullish Kumo on the Heikin-Ashi suggests a long-term bullish movement. Supports and resistances - 75000.00 from Fibonacci - 67000.00 from historical high - 66001.41 from historical high of Chikou - 51800.00-52600.00 from Ichimoku Flat/Cusp areas of the Chikou - 40500.00-40700.00 from Chikou's Ichimoku Flat/Cuspid areas - 37000.00 from Ichimoku Flat/Cuspid areas of Chikou - 35000.00 from Ichimoku Flat/Cuspid areas of Chikou - 33500.00 by Ichimoku Flat/Cuspid areas 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: The Fibonacci levels still show us a positive long-term sentiment and puts the 0 on the upside at 75000.00. The price failed to break above the 0.618 level and continues towards 0.718. Conclusion: The situation is very similar to what has been anticipated for at least two weeks. The BTC continues to show the desire to rise but at this time the uncertainty and the presence of the price in or around the Kumo makes it the master. From a fundamental point of view we can correlate this situation to the current geopolitical situation, still unstable that the market discounts through the presence of volatility and pessimism. It is important to evaluate the closing of the week on the following price structures, with emphasis on the lateral momentum: - Bullish 40400.00-40700.00 - Bearish 37000.00 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: Increased - Expectation of Alt cycle: Decrease Fast (dump) 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
by TheSocialCryptoClub
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood weekend, As usual, here's our weekend analysis for the week's trades by our Indicators now available Open Source by looking at a glance at the BINANCE:BTCUSDT Daily chart using the “Traditional” settings with the Ichimoku Kinko Hyo. Tendency: Two days ago the Kumo turned green, a good sign for the bulls, but the considerable uncertainty continues considering that the price continues to fail to overcome the Kumo for about two weeks. Many of the lines describe a downtrend situation. Particularly significant is the downward overshoot of the Kijun. Also the Kijun Trend Indicator - which two weeks ago indicated the possibility to look for long positions, after these last candles could indicate a trend reversal. Supports and Resistances in the area and not only: - 75000.00 by Fibonacci - 67000.00 by Historical Maximum - 66001.41 by All-time-high Chikou - 51800.00-52600.00 from Ichimoku Flat areas/Chikou Cusps - 40500.00-40700.00 from Ichimoku Flat areas/Chikou Cusps - 33500.00 from Ichimoku Flat areas/Chikou Cusps 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 Current timeframe. Moreover, let us remember that the various lines of the Ichimoku serve as 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). Heikin-Ashi: The Heikin-Ashi confirmed the Kumo rejection that stopped the green series and after a pause with some green candlers still indicates the downtrend momentum. Fibonacci CryptoFall, which identifies Fibonacci levels, still shows us a long-term positive sentiment and places the 0 upwards on 75000. Price was not able to overcome the 0.618 and going back to 0.786. Conclusions: BTC continues to show the desire to go up but right now the uncertainty - the price inside the Kumo - is the master. From a fundamental point of view we can correlate this situation to the current geopolitical situation - considering that the first news of troop redeployment generated a bullish impulse on the market - but as technical analysts we always refer to the chart as "the market discounts everything". It is important to evaluate the closing of the week on the following price structures: - Bullish 45000 - Bearish 40500-41500 For the Bitcoin Dominance and Altcoin Cycle we can consider the Weekly variation: - Total Crypto Market Cap: Decreased - Dominance of BTC: Increased - Price of BTC: Increased - Alt Cycle Expectation: Decrease Thanks for your attention, happy to support the TradingView community.
by TheSocialCryptoClub
2
BTC-D1-WATCH THE CLOUDS...ONCE AGAIN !DAILY (D1) Yesterday's price action triggered a long black bearish candle which went (as expected,see my previous analyisis) down towards the clouds bottom support level @ 40'088 ! BTC is currently below : 1) the Tenkan-Sen or Conversion line (TS) 2) the Mid Bollinger Band (MBB) 3) the ongoing former uptrend support line (in green) Nevertheless, still above : 1) The Kijun-Sen (KS) @ 39'400 which is also the 50% Fibonacci retracement of the last 32'950-45'850 rally seen recently from Jan 24th to Feb 10th RSI below 50, @ 46.24 Lagging line testing the MBB and the KS , which for the time being act as supports. CONCLUSION ON A DAILY BASIS : Watch carefully, ONCE AGAIN, at the clouds ! Indeed, such kind of information is very powerful, and will give you the next direction... Therefore, there are two levels to look at very carefully on a DAILY CLOSING BASIS which are the following : UPSIDE : 42'525 (DAILY TOP CLOUDS RESISTANCE AREA) DOWNSIDE : 39'400 (DAILY BOTTOM CLOUDS SUPPORT AREA & LAST BUT NOT LEAST THE 50% FIB RET and the KS TOO) A sustainable recovery move above MBB, currently @ 41'489, would, temporary neutralise this ongoing persisting downside risk. While a failure to hold above 39'400 would put the focus on 37'877 being the 61.8% Fib ret ahead of 35'710 (78.6% Fibonacci extension). 4 HOURS (H4) Below the clouds, the psychological 40'000 support level, nearly filled with a yesterday's low @ 40'088 Below the TS, KS and MBB too. RSI far below 50 @ 33.07 with NO BULLISH DIVERGENCE DETECTED SO FAR ! , meaning current reversal price action should only be seen as a corrective move. The Lagging line is below the clouds too. Looking at potential tactical corrective recovery, we can identify the following targets : R1 : 41'211 R2 : 41'907 R3 : 42'469 (50% FIB RET 44'850-40'088 & DAILY CLOUDS TOP AREA @ 42'525) R4 : 43'030 To the downside, as mentioned previously in D1, a breakout of 39'400 would put the BTC in a very fragile zone (mirror effect of the long white candle seen on Feb 4th (37'325-39'840)! CONCLUSION : Watch and monitor closely price action on shorter intraday time frames to get more clues and intermediate signal (s) which will help you to validate or invalidate implications above mentioned. FINALY, LAST BUT NOT LEAST DO NOT FORGET, WHEN YOU TRADE TACTICALLY IN COUNTERTREND TO ADOPT A DISCIPLINED RISK MANAGEMENT APPROACH IN PLACING STOP LOSSES ACCORDINGLY AND IN ADOPTING ALSO A TRAILING STOP STRATEGY !!! GOOD LUCK :-) Have a nice day and take care Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
HERMES-STRATEGIC MEDIUM/LONG TERM BUY !Following the sharp decline (-30.85 %), since the ATH @ EUR 1678.00 reached on December 1st, 2021, the price action triggered an HAMMER (reversal pattern) coupled with a RSI BULLISH DIVERGENCE, which is a first positive signal calling for a trend reversal towards higher levels. Important to also note that a potential DOUBLE BOTTOM is in progress (first bottom having been reached on October 1st, 2021 @ 1'166.50 ! Today's ongoing price action (long white candle) is, for the time being confirming this reversal and a closing level, on a DAILY BASIS, ideally above the Tenkan-Sen or Conversion line (@ 1'257.80) would add further support to this expected bullish scenario. IMPLICATIONS : UPSIDE : Once this first resistance level will be broken, focus will be on the second resistance area (cluster of both Kijun-Sen or Base line (1288) and the MId Bollinger Band-(1298) -"my own Barometer !", for further development (on this daily time frame, BULLISH above and BEARISH below the Mid Bollinger Band (MBB). The ongoing downtrend resistance line (in red), currently around 1'380 would be the next resistance level to look at ahead of the Daily clouds area (currently very thin) and close to the 61.8% Fibonacci retracement @ 1480.50. A clear upside breakout of the top of the clouds would reopen the door for a new attempt of ATH. DOWNSIDE : Former low @ 1'160.50 is the first support to look at and any dips towards this level should be seen as consolidative move in a new uptrend. Main focus will remain on the WEEKLY CLOUDS SUPPORT AREA (1'200-1'025) with intermediate support @ 1'097,00 this level being the 50% Fibonacci retracement of the big rally which started @ EUR 516.00 in March 16, 2020 CONCLUSION : HERMES is a diamond, very well managed and fundamentally exceptional ! Therefore, STRATEGIC LONG EXPOSURE SHOULD BE BUILT FROM CURRENT LEVEL AND ON DIPS AS A REAL VALUE ADDED ON ANY PORTFOLIO.
EURONEXT:RMSLong
by Ironman8848
3
TRXUSDT D1 Good opportunity to buy ! Hello traders, as you can see, the TRXUSDT chart has had a good reaction to the bat harmonic pattern in the past, and now, after completing a shark harmonic pattern and returning a price from it, it expects a price rise, as well as in Ichimoku KS And TS have given an ascending cross, while the presence of a large gap in the Ichimoku clouds increases the probability of ascent. I have identified the main resistances and I expect to climb to these targets. There is also the possibility of a price reversal from the current resistance and the formation of a classic double bottom pattern.
BINANCE:TRXUSDLong
by Amirhosseinbahrami7899
1
Ichimoku Cloud - An All in One StrategyNYSE:GME The Ichimoku Cloud is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. It does this by taking multiple averages and plotting them on a chart. It also uses these figures to compute a “cloud” that attempts to forecast where the price may find support or resistance in the future. ~Investopedia.com Ichimoku can be a strong tool (or set of tools, really), to help with entering only the safest plays, as well as providing the confidence to stay in them. Using $GME from 2/8/22, for example: Using the 15 minute chart, you wouldn't expect a long trend from the setup, but it did provide an opportune entry with plenty of confirmation. Lagging Span (Purple) - Lags behind price by 26 bars. Above the cloud is bullish, and below is bearish. Price exited the above the cloud, which is a buy signal. Conversion Line (Green) broke above the Baseline (Red), which is a buy signal. Conversion Line (Green) rose sharply, which signals a bullish trend. Price and all signals occurred above a green cloud, which is also bullish. All these signals together gave confirmation to go long on $GME at around 11:00am EST. For greatest confirmation, a trader should not enter the trade on simply 1 or 2 signals, though this may be useful for scalping opportunities. The true purpose of Ichimoku Clouds is to identify a possible trend, confirm the trend, enter the trade, and stay in the trade as long as the trend has strength. As price remains above the Conversion Line (Green), the Conversion Line is also very distanced from the cloud, and the cloud remains green, the bullish trend is still continuing. Entry levels for this trend would be testing support of the Base Line (Red) and the top of the cloud itself. Though loss of those level indicate the trend is weakening. Try the Ichimoku Cloud on this chart using multiple time frames to see what you might expect price action to do, and how you might trade or avoid certain setups. Have fun! Exit strategies should also be in place, and profits should be taken at predefined levels when trading short-term trends.
NYSE:GMEEducation
by TheGritz
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood weekend, As usual, here's our weekend analysis for the week's trades by our Indicators now available Open Source by looking at a glance at the BINANCE:BTCUSDT Daily chart using the “Traditional” settings with the Ichimoku Kinko Hyo. Tendency: - BTC it is still in the downtrend now from 72 candles but as the downtrend was weakening as described last week, now seems to be the moment of a reversal, even if the various Ichimoku lines still have mixed feelings: long-term still a downtrend, medium-term sideways and short term uptrend. - The Kijun Trend Indicator is still indicating a downtrend but the crossover happened two days ago and today it can signal the looking for a long position. - Tenkan is not over the Kijun and this confirms the reversal desire. Price: The price is under the red Kumo and Chikou is under the price, but at the limit and in an area without a lot of price structures. Supports and Resistances in the area and not only: - 75000.00 by Fibonacci - 67000.00 by Historical Maximum - 66001.41 by All-time-high Chikou - 51800.00-52600.00 from Ichimoku Flat areas/Chikou Cusps - 40500.00-40600.00 from Ichimoku Flat areas/Chikou Cusps - 33500.00 from Ichimoku Flat areas/Chikou Cusps 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 Current timeframe. Moreover, let us remember that the various lines of the Ichimoku serve as 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). Heikin-Ashi: The Heikin-Ashi weakening of the last week is confirmed and now shows the short-term trend desire by some green candels without lower shadows. Fibonacci CryptoFall, which identifies Fibonacci levels, still shows us a long-term positive sentiment and places the 0 upwards on 75000. Price is now moving from 0.786 to 0.618. Usually a retracement is considered from the 0.382 to 0.618. Conclusions: BTC continues to be in a downtrend but there is a possible reversal. It is important to evaluate the closing of the week on the following price structures: - Bullish 45000 - Bearish 40500-41500 For the Bitcoin Dominance and Altcoin Cycle we can consider the Weekly variation: - Total Crypto Market Cap: Increased - Dominance of BTC: Decreased - Price of BTC: Increased - Alt Cycle Expectation: Increase fast Thanks for your attention, happy to support the TradingView community.
by TheSocialCryptoClub
9