Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

16 Oca 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. Please look at hour scripts!

Macro Trend Analysis using Kumo:

• Tendency: BTC continues to be in a downtrend now from 51 candles. Kijun Trend Indicator is still indicating a downtrend.
  All the medium-term lines confirm the downtrend (also by price under the Weekly Kijun) and some sideways bias (Kijun and Tenkan Flat), although the Kijun is under the Tenkan and during this week-end - so needs to be confirmed - price above the Tenkan. In general the behaviour of the last weeks is confirmed
  
• Price: The price is under the red Kumo and Chikou is under the price.
  

Supports and Resistances in the area:

• 75000.00 by Fibonacci
  
• 67000.00 by Historical Maximum (too much precise)
  
• 66001.41 by All-time-high Chikou
  
• 51800.00-52600 strong price structure by flat lines
  
• 49140 Kijun Weekly
  
• 40500-40600 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 confirms the weak desire to go up.

Fibonacci
CryptoFall, which identifies Fibonacci levels, still shows us a positive sentiment and places the 0 upwards on 75000. Price is under 0.618, which is the lower limit for normal retracement.

Conclusions
BTC continues to be in a downtrend. In general, our Kijun Trend Indicator is still short. This position is reinforced due to the price under the Weekly Kijun.

It can be identified, in formation, an interesting Hosoda ABC wave, after the confirmation of the Kijun Trend Indicator.

It is important to evaluate the closing of the week on the following price structures:
- Bullish 44000-45500
- Bearish 40500-41500

For the Bitcoin Dominance and Altcoin Cycle we can consider the Weekly momentum:
- Total Crypto Market Cap: Increase
- Dominance of BTC: Decreased
- Price of BTC: Increase
- Alt Cycle Expectation: Increase Fast (Alt Season)


Thanks for your attention, happy to support the TradingView community.