Weekly Analysis BTC via Ichimoku by TheSocialCryptoClub

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: Bitcoin is right now in Downtrend as confirmed by the Kumo Twist 9 days ago. The price is always on the support indicated by the Kijun Weekly and the Tenkan Daily that it just broke through. The rest of the medium/long term indicator signals indicate a Downtrend with a sideways bias.
  
• Price: The price is under the red 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
  
• 48900 Kijun Weekly
  

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:
The Heikih-Ashi confirms shows a potential uptrend with the first green candle with no shadow above.

Fibonacci
CryptoFall, which identifies Fibonacci levels, still shows us a positive sentiment and places the 0 upwards on 75000.

The price is testing the 0.5 level, after the bounce on 0.618.

Conclusions
The price is now showing a potential recovery as it is surpassing the Kinjun Weekly and Tenkan Daily, a closure between these levels can help to find the point C we’re looking for. Maximum caution is needed with the confirmation of Daily, Weekly closure and confirmation.

It is important to evaluate the closing of the week on the following price structures:
Bullish 52500
Bearish 46600

It will be interesting to consider as a new point C the low of December 4th in the potential rebound using as A the low of September 21st and as B the all-time-high of December 10th.

For altcoins we can consider:
- Total Crypto Market Cap: started to increase
- Dominance of BTC: increasing
- Dominance of stable coin: decreasing a lot
- Dominance of altcoins increasing and ETH: decreasing

So, there are good opportunities to accumulate stronger Alt and take some BTC waiting for the pullback, even if as anticipated in the past week a dump happened, after the confirmation of this status for the weekly close.



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