Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

15 de mai. de 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.

The Kumo has been red for 28 days, gets even thicker than last week (now at about 14.32%) and is tilted downward. The Senkou Span B and the Kijun have flattened If last week so all lines were pointing downward now - on the long term - the situation presents a downtrend with a slight sideways bias.

The Kijun Trend indicator always points to the search for short positions.

Heikin-Ashi:
After a series of "strong" red candles, they are now red but present spikes. The situation is always downtrend and it will be interesting to assess the candle color at the end of the day.

Supports and resistances:
- 75000.00 from Fibonacci
- 67000.00 from all-time high
- 66001.41 from 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 from Ichimoku Flat/cusp areas of the Chikou
- 41200.00 from Ichimoku flat/cusp areas of the Chikou
- 39400.00 from Ichimoku flat/cusp areas of the Chikou
- 37000.00 from Ichimoku flat/cusp areas of the Chikou
- 35700.00 from Fibonacci
- 35000.00 from Ichimoku flat/cusp areas of the Chikou
- 33500.00 from Ichimoku flat/cusp areas of the Chikou
- 30300.00 from Ichimoku Flat/cusp areas of the Chikou
- 28000.00 from waves of Hosoda
- 26100.00 from Hosoda waves
- 25000.00 from Fibonacci

For the various static price structures you can 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 on the Daily still show us positive long-term sentiment and places the 0 upside on 75000.00. Price is now on the 1 level at 25000.00.


Conclusion:
BTC continues to be in a downtrend on the daily and weekly time frame. All lines confirm this and only the longest are showing flat.

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

From a fundamental point of view we can always consider the correlation with U.S. equities in this inflationary situation.


It is important to evaluate the close of the week and during the week on the following price structures:
- Bullish: 31600.00-33600.00
- Bearish: 30390.00-29700.00

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

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