Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

30 ene 2022

Good 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 theIchimoku Kinko Hyo.

Macro Trend Analysis using Kumo:
Tendency: BTC continues to be in a downtrend now from 65 candles. The Kijun Trend Indicator is still indicating a downtrend. This is on long and medium term. On the short-term the price is a bit bullish as the price is crossing the Tenkan, as the downdrend showing some weakness. But weekly Tenkan under the weekly Kijun and some sideways bias is on Senkou Span B. It is interesting that the price in the past week touched the support indicated by Chikou SR indicator and then bounced.
Price: The price is under the red Kumo and Chikou is under the price.

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 shows the weaking of the short-term trend by some green candels wihout 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. Usually a retracement is considered from lo 0.382 and 0.618.

Conclusions
BTC continues to be in a downtrend. In general, our Kijun Trend Indicator is still short. This position is confirmed as the Weekly Tenkan is under the Weekly Kijun. On the other side the downtrend is weakining as indicated by the Close between the Tenkan and by Heikin-Ashi.

It is important to evaluate the closing of the week on the following price structures:
- Bullish 40500-41500
- Bearish 29700-30300

For the Bitcoin Dominance and Altcoin Cycle we can consider the Weekly variation:
- Total Crypto Market Cap: Increased
- Dominance of BTC: Increased
- Price of BTC: Increased
- Alt Cycle Expectation: Decrease


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