Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

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:The long-term trend is bullish considering that the Kumo Twist occurred 33 days ago and the price is above the present and the future Kumo. The trend is weakened and at this moment there is a sideways bias as the flat Senoku Span B and the Kumo is quite thick, even though the Senkou Span A is still bullish.
  
  The medium term trend is still bullish as the Tenkan is above the Kijun and the price is above the Kijun.
  
  The short term trend is sideways as the price is using the Tenkan as support/resistance. However the price recently bounced off the Kijun.
  
• Price: The price is above the Kumo and above the Chikou. It is using the Tenkan Sen as a price structure.
  

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
  

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:
After bouncing on the Kijun the price is forming a green candle, waiting then for confirmation from a shadowless one.
Fibonacci
CryptoFall, which identifies Fibonacci levels, still shows us a positive sentiment and places the 0 upwards on 75000.

The price reached and then was rejected at the 0.236 level, at this moment it is sideways.

Conclusions
The price is lateralizing after the all-time high.

It is important to evaluate the closing of the week on the following price structures: 58000 (bearish bias), 62000 (sideways bias) or 63000 (bullish bias).

The frog is always cautious in these moments, a retracement on one of the indicated resistances and Kijun could bring a good opportunity to accumulate BTC or in lower timeframes.

It is interesting to evaluate the Hosoda Waves in this context using the previous bullish leg as points A, B and C. Interesting targets are:
- Wave E: 76562
- Wave V: 66240
- Wave N: 63242

For altcoins we can consider:
- Total Crypto Market Cap: slightly increasing
- Dominance of BTC decreasing and encountering resistance
- Dominance of stable coin decreasing
- Dominance of altcoins and ETH slightly increasing.

So good opportunities with caution, on confirmation of this status for the weekly close.



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