Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

1 thg 5, 2022

Good weekend,

As usual, here is our analysis of the week looking at a glance at the daily chart of BINANCE:BTCUSDT using the Ichimoku Kinko Hyo indicator with traditional settings. We used additional indicators that we have developed and released Open Source, you can find them at the end of the analysis.

Trend:
Kumo has been red for 14 days and getting thicker (now at about 6.5%) and all Ichimoku lines indicate a downtrend. Tenkan Weekly rises away from price nevertheless.

The Kijun Trend indicator always indicates the search for short positions.

Heikin-Ashi:
A series of particularly "strong" red candles continue below Tenkan.


Supports and resistances:
- 75000.00 from Fibonacci
- 67000.00 from historical high
- 66001.41 from the all-time high of Chikou
- 51800.00-52600.00 from Ichimoku Flat/cusp areas of the Chikou
- 49000.00-51000.00 Fibonacci, Psychological Threshold and Kijun Weekly
- 44400.00-45600.00 by areas Ichimoku Flat/Chikou Cusps
- 41200.00 by Ichimoku Flat/Cuspid Chikou areas
- 39400.00 from Ichimoku Flat/Cuspid areas of Chikou
- 37000.00 from Ichimoku to Chikou Plains/Cuspid areas
- 35000.00 from Ichimoku Chikou flat/peak areas
- 33500.00 from Ichimoku Flat/Cuspid areas of Chikou
- 30300.00 by areas Ichimoku Flat/Cuspids of Chikou


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 daily time frame.

Also, recall that the various Ichimoku lines serve as dynamic 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).

Fibonacci:
Fibonacci levels are still showing positive long-term sentiment and puts the 0 on the upside at 75000.00. But the price is moving towards the 0.786 level.

Conclusion:
The BTC is in a downtrend situation on the daily and weekly time frame. All lines confirm this.

Even the well-known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods are lined up in a downtrend.

From a fundamental point of view the war and the inflation dollar situation bring negativity to the markets.

It is important to evaluate the close of the week and during the week on the following price structures:
- Bullish: 39500.00
- Bearish: 3714.00

Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Decreased
- BTC dominance: Increased
- Price of BTC: Decreased
- Alt Cycle Expectation: Marked Downtrend

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


Indicators used:
Analysis Tool

Kijun Trend Indicator

Ichimoku Support and Resistance

Chikou Support and Resistance