Can go to 38$ if the bitcoin keeps on going upHere is some key levels identified on higher timeframes.
Ichimoku Cloud
Weekly Analysis BTC via Ichimoku Good start to the week,
We resumed our weekly analysis. Let us look at a glance at 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:
Kumo has been green for 16 days and is 1.4% wide. It is thin and looking upward. In concert the situation is bullish. Importantly, the price has crossed the Tenkan and the weekly Kumo and is now on significant price levels.
The Kijun Trend indicator has been indicating since January 10 to look for long positions.
Heikin-Ashi:
The Heikin-Ashi confirm the bullish movement. There are many green candles without shadows below.
Supports and resistances:
- 25000.00 Fibonacci
- 24400.00 Chikou cusps and flat zones of Kijun and Tenkan
- 21200.00 Chikou cusps and flat zones of Kijun and Tenkan
- 20400.00 Kijun weekly
- 20200.00 Chikou cusp level or flat zones of Kijun and Tenkan
- 19100.00 Fibonacci
- 18400.00 Tenkan weekly
For static price levels, the lower right chart plots the Tenkan, Kijun, Senkou Span A and Senkou Span B flat zones 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:
The situation is bullish.
The Hosoda waves indicate a bullish ABC pattern since Dec. 19, with targets at 17036.6, 19168.25, 20519.6, 21229.9, all hit by price.
From a fundamental point of view, there is a lot of focus on inflation. Inflation expectations in the U.S. have fallen, and the pace of rate hikes by the FED is expected to be reduced. Consumers have confidence and it brings a rise in indexes such as the NASDAQ, weakening of the dollar and a rise in the BTC.
It is important to assess the close of the week and during the week on the following price structures:
- Bullish/Lateral: 21400.00-22400.00
- Bearish: 20400.00
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: Decline.
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Indicators used:
Analysis Tool
Kijun Trend Indicator
Ichimoku Support and Resistance
Chikou Support and Resistance
Could go to 0.4294The price and the chikou span are free to go up.
0.4294 is the kijun sen on the daily timeframe.
Key levels if the price keeps going upThese key levels have been identified on the weekly timeframe.
Next S/R if it keeps on going upHere are some weekly key levels to watch if the bitcoin keeps on going up.
It has just got above a weekly kijun sen (strong level).
ETHUSD Ichimoku 4H Szenarios Week 1 2023Here is my weekly 4H INDEX:ETHUSD Ichimoku Analysis for Week 1.
General outlook
The overall market trend is still downwards and I expect that we will see more in Q1 downward pressure due to adjustment of earnings and the higher and higher possibility of, at least, a mild recession in the US and EU.
The Crypto market will be also pointing further downwards as the stock and crypto markets are still highly correlated.
Ichimoku analysis
My weekly analysis is based on the 4H chart.
Lagging Span is above Price and Cloud
Conversion Line crossed Base Line
Price is above the cloud
Currently Conversion Line, Base Line, and Kumo are flat / ranging
Currently no green Kumo twist
4H Resistance / Support Zone
Resistance between 1225 USD and 1232 USD
Support between 1185 USD and 1180 USD
Long Idea - When the resistance zone at 1230 USD turns to support, Kumo twist happens and Cloud + Base Line points upwards
Take Profit Target: 1280 USD
Stop Loss: Below Base Line
Short Idea - When Kumo cloud support at 1200 USD is broken and retested, and the price is below Cloud + Base Line pointing downwards
Take Profit Target 2: 1150 USD
Stop Loss: Above Cloud
Trading setup for a long opportunityIf the price gets above 0.1327 then there could be a long trade opportunity with TP = 0.1390
Trading setup for a long opportunityIf the chikou span gets above its H4 cloud then there would be a good long opportunity with :
TP1 = 0.2670
TP2 = 0.2725
Trading setup for a short opportunityIf the price gets below the trendline then there would be a short trade opportunity.
If it gets above its cloud then 6.76 is possible.That is a SSB line that could be reached.
The chikou span would be free to go up.
Could go up to its daily Kijun SenCould go up to its daily Kijun Sen.
The chikou span should get above its cloud.
Could go up to its daily Kijun SenIn H4 it is uptrend.
In daily it's not but it could get up to its daily KS.
Getting above its daily cloudGetting above its daily cloud.
We have to wait to see if the price closes above it.
The price might go back to 16203The price has got below its daily Ichimoku forecast line.
The chikou span has got below its daily Ichimoku forecast line.
BUT : the chikou span is above its Kijun sen line.
The price might go back to 16203 = The low of the japanese candlestick from which the Daily IFL was drawn.
Possible resistance before going to 16203 is 16432.8 = the kijun sen level below the chikou span.
Current price = 16668.
Might be interesting to shortThis asset might be intersting to short.
Ideally one should wait for the Chikou Span to get below its cloud.
An interesting zone that could be tradedHere is an interesting zone that could be traded.
The Chikou Span in still in the cloud.
The better would be to wait for the CS to get below its cloud.
But there might be a shorting opportunity here.
Next possible trading zoneIf the price keeps on going up then this zone could be a good one for trading.
Setups for MondayOrange pairs: AUDNZD, AUDCHF, NZDCHF, GBPCAD, EURAUD, GBPNZD, NZDCAD, EURNZD, EURCAD
Green pairs: USDCHF and GBPCHF
Purple pairs: AUDCAD and EURGBP
*
Orange = Moving away or getting slowly to our trade, not suitable for a trade yet unless it's giving a little bit more in our direction
Green = Close to a trade, needs a break for anything serious
Purple = Very close to a trade! Needs a retest or a break of exhaustion point for an entry.
Have a great week all! :)
Next key levels Next key levels if the price keeps on going up.
In paralell the Bitcoin is trying to get above its H1 Ichimoku cloud.
H1 Ichimoku Forecast Lines.Here are the latest H1 IFL.
If the price gets below its IFL and if the Chikou Span gets below its one then a return to 16728 could occur.
