Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

13 Şub 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 the Ichimoku Kinko Hyo.

Tendency:
As described in the previous weeks, the downtrend weakened a lot and the Kijun Trend Indicator also indicated the reversal. Right now the price is in a critical area as it is on the Tenkan Weekly and it was rejected by the Kumo. Most of the short-term lines confirm the uptrend desire and the Senkou Span A and Senkou Span B are getting closer and closer.

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
- 40500.00-40700.00 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 confirmed the Kumo rejection that stopped the green series and not presenting some strong red candles.

Fibonacci
CryptoFall, which identifies Fibonacci levels, still shows us a long-term positive sentiment and places the 0 upwards on 75000. Price is at 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: Decreased
- Dominance of BTC: Increased
- Price of BTC: Increased
- Alt Cycle Expectation: Decrease

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