Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

23 de jan. de 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.

Macro Trend Analysis using Kumo:

• Tendency: BTC continues to be in a downtrend now from 58 candles. The Kijun Trend Indicator is still indicating a downtrend. This is on long, medium and short-term. This week it is particularly significant that the weekly Tenkan is crossing down the weekly Kijun and sideways bias as some lines are flat.
  
• Price: The price is under the red Kumo and Chikou is under the price.
  

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 with red candles without an upper shadow confirms the strength of the movement.

Fibonacci
CryptoFall, which identifies Fibonacci levels, still shows us a positive sentiment and places the 0 upwards on 75000. Price is now at 0.786. Usually a retracement is considered as such if it includes tra lo 0.382 e lo 0.718.

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

It is important to evaluate the closing of the week on the following price structures:
Bullish 40500-41500
Bearish 29700-30300

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: Decreased
- Alt Cycle Expectation: Decrease Fast (Dump)


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