Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

14 Sep 2021

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:

• Tendency: now prince is stalled in a strong sideways as all is flat Span B, Span A, Kijun, Tenkan with Kijun and Tenkan at the same level, even if still in uptrend for about 40 days
  
• Price: over the Kumo, still in uptrend on the long term. But downtrend as price it is under the Kijun and Tenkan
  
• Width: particularly thick and confirming the sideways moment as Span A and Span B are flat
  
• Evolution: uptrend stopped by a flatteness
  

Static Supports and Resistances in the area:
Resistances

• 52400-53900 strong price by Senkou Span B, Senkou Span A and Kijun
  
• 50000 important psychological support which price is trying to cross for about two weeks
  
• 47400-47900 strong price structure by Senkou Span B and Kijun
  

Supports

• 44122 generated by Senkou Span B and Kijun
  
• 41102 generated by Senkou Span B
  
• 39840 generated by Senkou Span B
  

Dynamic

• Tenkan: flat on 47881.53 so, sideways with price under the lines
  
• Kijun: flat on 47881.53 so, sideways with price under the lines
  
• Uptrend channel: old channel was broken multiple times
  

Volumes:
Stable after the spike of 07 of September
Heikin-Ashi:
Wide-range Heikin-Ashi broke the uptrend which is now stabilizing but in red. Under the Tenkan and Kijun too.

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.
Further levels are the 0.618 on 38200 that we can consider the last bastion of the uptrend and the 0.382 level on 61800. Price is going down now between the mid of 0.6 and 0.618.

In conclusion, for Bitcoin we are in a stall moment as the price was not able to break the psychological resistance at 50000 and maybe for some fundamental reasons. However a part from the big stall the price can meet the Kumo during the week and in that case we can expect unpredictability.

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