Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

٣ أبريل ٢٠٢٢

Good weekend,

As usual, here is our analysis of the week looking at a glance at the daily chart of BINANCE:BTCUSDT using the Ichimoku Kinko Hyo indicator with traditional settings. We used additional indicators that we have developed and released Open Source, you can find them at the end of the analysis.

Trend:
Kumo has been consistently green for the past 12 days and expanding (currently around 7%) thanks to Senkou Span B continuing to rise. All the daily lines indicate an uptrend and only the Senkou Span B and the Kijun are flat and it is important to consider these flat lines that represent the sideways momentum in the medium and long term.

The Kijun Trend indicator continues to indicate the search for long positions and the price is 8% away from the uptrend Kijun.

Heikin-Ashi:
The Heikin-Ashi are always above the Kumo and now highlighting this sideways and volatile moment with sudden color changes and pronounced ranges.

Supports and resistances:
- 75000.00 from Fibonacci
- 67000.00 from historical high
- 66001.41 from historical high of Chikou
- 51800.00-52600.00 from Ichimoku Flat/cusp areas of the Chikou
- 49000.00-51000.00 Fibonacci, Psychological Threshold and Kijun Weekly
- 44400.00-45600.00 by areas Ichimoku Flat/Chikou Cusps
- 40200.00-40800.00 from Ichimoku Flat/Chikou Cusp areas
- 30300.00 from Ichimoku Flat/Cuspid Chikou areas
- 37000.00 from Ichimoku Flat/Cuspid areas of Chikou
- 35000.00 from Ichimoku Flat/Cuspid areas of Chikou
- 33500.00 by Ichimoku Flat/Cuspid areas of Chikou

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 daily time frame.

Also, recall that the various Ichimoku lines serve as dynamic 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).

Fibonacci:
The Fibonacci levels still show us a positive long-term sentiment and places the 0 level on the upside at 75000.00. The price is now between the 0.618 level and the 50% Hosoda level. The 0.618 level is acting as support.

Conclusion:
BTC continues to rise even though it's in a sideways momentum right now.

There are still some important price structures indicated by the flat areas and the Kijun Weekly around 51000.00 and also - referring to the well-known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods, the price is holding above the 200 period.

It is important to evaluate the closing of the week and during the week on the following price structures, with emphasis on the sideways momentum:
- Bullish: 46100.00-49100.00
- Bearish: 44650.00-45563.00

Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Increased
- BTC dominance: Decreased
- Price of BTC: Increased
- Expectation of Alt cycle: Fast increase

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

Indicators used:
Analysis Tool

Kijun Trend Indicator

Ichimoku Support and Resistance

Chikou Support and Resistance