After more than one year of weekly technical analysis this weekly appointment has likely reached its end. I appreciate writing these kind of articles but the results have been quite poor, meaning that I will likely turn this appointment to other directions.
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 85th 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
Bitcoin is still between the red and green levels and is attempting again to break upwards the red level.
What do I expect from a daily perspective?
Price dropped again but designing growing minimums, making the bull-trend potentially even stronger than expected. Since mid-December the trend is clearly bullish as the minimum are increasing and today the price is testing again the red level that can be a potential turning point for the next phase of the bull-run, towards 60.000$.
DXY has broken the previous level downwards through 102 points aiming towards 101 points and then 100 points
Moving averages are bullish and the 50MA is getting closer to the price action. The 50MA crossing the blue and green level makes statistically that area very strong as a support.
Ichimoku Cloud are reaching the current level, acting as a potential additional support for the price action.
And now, what from a Volume perspective?
Volumes are still here, even during holidays. Some stronger signals will occur after the re-opening of several investment offices.
What to observe particularly?
Last week (and the previous one) I was writing this:
Some consolidation happened and now price is trying again the bullish path.
Price is creating an ascending trend-line creating and ascending triangle that leads usually to a bullish break-out.
Stay tuned and be sure to follow to get noticed when my contents come
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