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: The long-term trend is compromised, after 54 days. Right now the price is in the support area of the Senkou Span B and inside the Kumo. Technically it is on the Weekly Tenkan and if the Senkou Span B is still looking upwards, the Senkou Span A is looking downwards towards the meeting at a glance the trend is bias/lateral.
  
  If on the other hand we use traditional settings then the Kumo has already executed the twist and is now red.
  
  
• 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 Tenkan 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 unpredictability being inside 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 0.382 level and looking back to 0.5 level.

Conclusions
The price is now in a stronger support area. High volatility is expected and maximum caution is needed.

It is important to evaluate the closing of the week on the following price structures:
Bullish 55000/56000
Bearish 53000

It is interesting to evaluate the Hosoda Waves in the previous context using the previous bullish leg as points A, B and C. Interesting targets are:
- Wave E: 76562
- Wave V: 66240
- Wave N: 63242
It will be interesting to look for a further point C 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: slightly 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 interesting Alt that is probable a dump, of course on confirmation of this status for the weekly close.



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