Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

Good good weekend everyone,

The Crypto Frog uses its Ichimoku Analysis Process with its toolset by looking at a glance at the BINANCE:BTCUSDT Daily chart using the “Crypto Market Settings” for the indicator as 10-30-60-30:

Macro Trend Analysis using Kumo:

• Tendency: As anticipated, the long-term trend is compromised and now broken. The Kumo twisted 2 days ago (considering the traditional settings anticipated the twist 9 days ago). Right now the price is still following the Weekly stronger support: in the past week it was on Tenkan Weekly and now on the Kijun Weekly. The thin Kumo and its inclination describes the strongest downtrend and now only Span B is flat, all the other lines are facing downward.
  
  
  
• Price: The price is inside the 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
  
• 58000.00 strong price structure by flat lines
  
• 53800.00-54000 strong price structure by flat lines
  
• 48900 Kijun Weekly
  

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 Heikih-Ashi confirms the bearish trend with red candles with no shadow above, and the sideways momentum and now under the Kumo.

Fibonacci
CryptoFall, which identifies Fibonacci levels, still shows us a positive sentiment and places the 0 upwards on 75000.

The price passed the 0.5 level, bounced on 0.618 and now back to 0.5 level.

Conclusions
The price is now bearish with a lateral bias around the strong Weekly Kijun support area. Maximum caution is needed as we are under the Kumo which turned red and thin.

It is important to evaluate the closing of the week on the following price structures:
Bullish 52500
Bearish 45000

It will be interesting to look for a further point C - now on very low levels - in the potential rebound using as A the low of September 21st and as B the all-time-high of December 10th.

For altcoins we can consider:
- Total Crypto Market Cap: decreasing a lot
- Dominance of BTC slightly increasing
- Dominance of stable coin: increasing
- Dominance of altcoins increasing and ETH: decreasing for alt, increasing on ETH

So, there are good opportunities with caution to accumulate BTC and ETH and accumulate stronger Alt, even if as anticipated in the past week a dump happened, of course on confirmation of this status for the weekly close.



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