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 bullish bias we wrote about last week is confirmed. Kumo continues to be positive even though the various Ichimoku lines are sideways right now. This is a normal aspect considering that we are approaching the historical high and currently the price is lateralizing on the price structure we identified last week.
- 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: Kumo is now green, with some stable width.
- Evolution: f;at
Resistances
- 75000.00 by Fibonacci
- 64854.00 by Historical Maximum
- 63433.75 by Chikou
- 62300.00 by Fibonacci
- 61174.97 by Chokiu
- 58967.12 strong price structure by Senkou Span A and Senkou Span B
- 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: slightly uptrend on 58275.31
- Kijun: flat on at 51266.50
Volumes:
Stable
Heikin-Ashi:
uptrend with much strength, which is colliding with resistance.
Fibonacci
CryptoFall, which identifies Fibonacci levels, still shows us a positive sentiment and places the 0 upwards on 75000, the range of market is narrowed keeping however in balance on 50000.
The price is reaching the 0.236 level for a possible new all-time high, in this moment it acts as a resistance
Conclusions
At a glance the lines are bullish in the long term, while lateral in the short and medium term, as we can see from the flat moments. It is however a quite typical situation considering the approach to the historical high.
It will be interesting to watch the weekly close which could lead to a high on the weekly candles.
This last impulse, from a fundamental point of view, was probably generated by the announcement of the ETF on BTC futures.
Given the increase of the Crypto Total Market Cap and the strength of BTC and Dominance (BTC.D), we continue with the cautious entry of the alt-coins.
Thanks for your attention, happy to support the TradingView community.
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- Crypto News: t.me/joinchat/StkXJM
