First of all, make sure you get the correct jingle
What Market Phase are we entering into has been the introductory question for our last appointments. Are we going to listen to the Bulls or the Bears? Are we going to see a Bull Market or a Bear Market?
Welcome to Surfing the Market, we are already at our 76th appointment and I hope that with these easy tech analysis we have helped you in some forms, even just to evaluate different market perspectives.
Let’s start from our usual weekly perspective
Source: Tradingview - Weekly Chart
We have reached 35000$ and growing. Price make a huge upward movement in the last day making this move triggering a lot of Bull Run memes in social networks and medias.
What do I expect from a daily perspective?
Source: Tradingview - Daily Chart
Price reached 30000$ last week, with the fake news on ETFs. Then a good retrace and now a huge pump. Is all this healthy?
Well, not sure BUT still, let’s enjoy the green view.
Surce: Tradingview - Dollar Stregth Index
DXY was rejected from the local maximum and it’s headed back to 105 points. Some breathe for commodities and we’ll see the next trend.
50MA acted as a support and the 200MA as later support to trigger the last candles.
Source: Tradingview - Daily Chart
Price is now far above the cloud making a short-term retrace very likely to happen. Still, the cloud is rising putting the next statistical support area in the 31000$ range.
Source: Tradingview - Daily Chart
And now, what from a Volume perspective?
Volumes are here. Some real player triggered the market and net volumes entered the game.
What to observe particularly?
We are far above all tech supports and we are approaching the resistance frm February 2022 where a dense movement happened in the 35000$-44000$ range. I expect a small setback and eventually a later attempt to the resistance.
Stay tuned and be sure to follow to get noticed when my contents come out.
Promotional suggestion
One more thing: if you really do not care of technical analysis or you do not like spending time onto the markets, make sure to give a look to the Zignaly platform, an Official Binance Broker Partner with huge volumes under management. They offer great services of Profit Sharing Trading, where you copy other Professional traders, sharing the profit with them! Make sure to give a look!
If you are interested in getting noticed in advanced on the release of our partner’s indicators, leave a comment here so we understand if there is some interest!
None of what I write can represent a financial advice in any form. So Do your own research before taking any kind of action.
As always interesting analysis
!CTP
!discovery 20
This is enlightening!
Your analysis provides a detailed overview of the current market situation, with a focus on Bitcoin's recent upward movement and the potential implications for investors. The discussion around market phases, particularly the debate between the Bulls and the Bears, offers a comprehensive understanding of the ongoing dynamics.
Thank you for sharing
This post was shared and voted inside the discord by the curators team of discovery-it
Join our Community and follow our Curation Trail
Discovery-it is also a Witness, vote for us here
Delegate to us for passive income. Check our 80% fee-back Program
Yay! 🤗
Your content has been boosted with Ecency Points, by @mikezillo.
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more