Weekly update for BTCUSDT by TheSocialCryptoClubGood evening everyone, again this weekend the frog updates us on the situation of Bitcoin by looking at a glance at the BTCUSDT Daily chart:
⁃ Kumo:
⁃ Color: It's green and indicates a steady uptrend for about a month.
⁃ Width: particularly thick, indicating the strength of the trend.
⁃ Expansion/Compression: slightly expanding; therefore indicates an overbought situation)
⁃ Supports and resistances:
⁃ Senkou Span B: as indicated in the previous week, an important support level is 47.4k, on which the Tenkan rested and also the price. As important resistances (being a very slow average) we have 54k.
⁃ Kijun: on 43.9k continues to act as a support/buffer for the uptrend. Instead, it forms resistances on 50.7k (weak) and 52.4k.
⁃ Tenkan: always under observation also flat on the 48.7k level approx.
- Psychological: 50k threshold already exceeded during the week.
Volumes: continue to slightly decrease, a quite classic element considering the August closing.
Using the Heikin-Ashi we can see with yesterday's candle, after a flattening of the price, a certain desire to go upwards (candle of color change, green, without shadows underneath).
In general the Tenkan levels and the uptrend channel in which the price could re-enter are to be watched.
From a fashion and fundamental point of view:
⁃ Derivatives closed on Friday.
⁃ Some frog friends point out the current trends on both alt-coin and shit-coin as well as blockchain in general related to e-games and NFTs
⁃ In Italy soccer world is sponsored by exchange and cryptp business
Thanks for your attention, happy to support the TradingView community.
