Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub
The Crypto Frog uses its Ichimoku Analysis Process 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:
Resistances
Macro Trend Analysis using Kumo:
- Tendency: The long uptrend that had been weakened and then interrupted by the Kumo Twist is now recovering. The Kumo has performed 5 twists in this last period and now the Senkou Span A is above the Senkou Span B. At the moment the Senkou Span B is flat while the Span A shows a timid upward inclination. The market is still undecided but at this moment we can consider a bullish bias for the long term.
In the medium term we are sideways while in the short term we are bullish.
- Price: The price is now above the Kumo, above the Tenkan Sen and the Kijun Sen and is lateralizing between two defined price structures.
- Width: The Kumo is always very thin even if there is slight expansion.
- Evolution: expansion transmits a general feeling of ovesold, but given the width it can move very quickly.
Resistances
- 58967.12 strong price structure by Senkou Span A and Senkou Span B, Kijun and Tenkan
- 57712.34 strong price structure by Senkou Span A and Senkou Span B, Kijun and Tenkan
- 55871.99 strong price structure by Senkou Span A and Senkou Span B
- 53946 strong price structure by Senkou Span A and Senkou Span B
- 52420 strong price structure by Kijun, Senkou Span B and Chikou
- 50000 strong psychological price structure
- 47400-47900 strong price structure by Senkou Span B and Kijun
- 46241
- 43986-44688
- 41060 generated by Senkou Span B and Kijun
- 38330-39655 generated by Senkou Span B
- 35000-37704
- Tenkan: uptrend on 48755
- Kijun: flat on at 47850
Volumes:
Stable.
Heikin-Ashi:
In general, the previous situation of indecision is settling down and the trend defined by the Heikin-Ashi color is confirmed.
Fibonacci
CryptoFall, which identifies Fibonacci levels, still shows us a positive sentiment and places the 0 upwards on 100000 and we are now in the equilibrium point 0.5 right on 50000.
The price is now on the 0.382 level (normally 0.618 and 0.382 are market’s pullback) of the CryptoFall and has easily crossed above the 0.5 equilibrium level, which might indicate the closing of this retracement/downtrend momentum.
Conclusions
The indicators are particularly bullish even if in the medium-long term there is some indecision represented by the frequent Kumo Twists.
But as written above, the price is now above the Kumo and has closed several times above the Tenkan Sen and the Kijun Sen, these have crossed to the upside and we are above the Kumo. Also the Chikou is above the price of the previous cycle.
Fundamental side many think about the uptrend because of the demand for BTC based ETFs.
For those who trade alt-coins it is generally considered a difficult time as BTC is growing, its dominance is lateral (Kijun and Tenkan are flat) but it is in a moment of indecision as it is inside Kumo. Net of some meme-coins that instead, given the "Greed" moment are growing fast.
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- Scalping The Bull Training: tinyurl.com/corsoindicatorepro
- AlgoTrading Training: tiny.one/corsopinescriptbase
- Crypto News: t.me/joinchat/StkXJM
