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 still bullish as indicated by the green Kumo which continues to be so since 46 days, the Kumo also narrowed by several percentage points and we are now in a sideways phase where the Senkou Span B is flat and the Senkou Span A is slightly uptrending.
  
  The mid-term is sideways with a bearish bias where both Kijun and Tenkan are flat and the Price compared to Kijun and Chikou are bearish.
  
  The short term is bearish and the price is finding the Senkou Span A as a dynamic resistance.
  
  
• Price: The price is above 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
  

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 Senkou Span A the price is now green, this can mean a good pullback using the line as a support, but waiting for the confirmation of a green candle without shadows.
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 bounced at the 0.382 level.

Conclusions
The price is retracing after the all-time high, with a bearish bias.

It is important to evaluate the closing of the week on the following price structures:
Bullish 61000
Sideways 58000
Bearish 57000

The frog is always cautious in these sideways moments as we are in a retracement. Touching the indicated resistances and Ichimoku Lines could bring a good opportunity to accumulate BTC or to trade 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
During the week - after the confirmation of C - we can also evaluate the ABC from the lower low of 21st Sep 2021, all-time-high of 10th Nov 2021 and low of 19th Nov 2021 which can bring the ave E at 100000.

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

So, there are good opportunities with caution to accumulate BTC and ETH and trade on some alt or better accumulate, on confirmation of this status for the weekly close.



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