Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub
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 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.
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.
- Scalping The Bull Indicator: linktr.ee/scalpingthebull
- Scalping The Bull Training: tinyurl.com/corsoindicatorepro
- AlgoTrading Training: tiny.one/corsopinescriptbase
- Crypto News: t.me/joinchat/StkXJM
- Scalping The Bull Training: tinyurl.com/corsoindicatorepro
- AlgoTrading Training: tiny.one/corsopinescriptbase
- Crypto News: t.me/joinchat/StkXJM
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