Weekly Market Analysis

Hello,

Let's start this week, market analysis.

BITCOIN

DAILY - LONG TERM

Downtrend

The market is still under selling pressure, aiming to make a new low.

The main support is in the $17,600 region, after which the next supports would be $16,200 and $15,000.

Currently, the market expects a slowdown by the Fed in terms of raising interest rates in the US. With this, the projection of closing a year with a rate of 3.50% may be something already priced in by the market.

If inflation stays under control, we could see a return to the bull market in the last quarter of 2022.

GRAPH 4h - MEDIUM TERM

The short-term market remains in a bearish convergence, awaiting the release of US inflation data.

From the disclosure of inflation, the market will have a clearer bias on the US interest rate.

Major supports at $19,500, $18,600 and $17,500. Meanwhile, major resistances are at $20,000, $20,200 and $21,600.

ETHEREUM

DAILY - LONG TERM

Market in a downtrend and with increasing selling pressure, showing a convergence in the chart.

Major supports are at $1,050, $1,000 and $910. We are expecting a test of the support at $910 in the coming weeks, aiming to generate what could be the last big sell-off.

Major resistances are at $1,100, $1,180 and $1,210.

GRAPH 2h - MEDIUM TERM

The** Market has broken an uptrend line**. As a result, the $1,150 region has extended its power as resistance.

We currently have the supports at $1,050 and $1,000 as two strong supports, acting for both short-term and long-term charts.

If the US market projects an acceleration of interest rate hikes in the US, we could see a scenario in which ETH would go below $900.

GOLD

The market lost support at $1,850 and is already looking to test $1,680.

We are currently aligned with the averages in the bear direction, with major resistances at $1,740, $1,775 and $1,820.

Due to the uncertainties in the world economic scenario, gold has also been showing strong selling pressure. However, we believe that in the medium and long term it will tend to follow an upward bias.

We believe that even in 2022 the market may retest the $2,000 region.

DOW JONES

Market inside a strong bearish channel.

The market last tested the bearish channel support when it tested the 30,000 point region. Now, the market moves towards the middle of the channel, with an eye on the release of US inflation data.

We expect interest rates to rise by another 1.75% in the United States over the course of 2022, ending the year at 3.50%. In a way, this fact is already priced in the market.

If inflation eases a little, we could see the market accelerating to the upside.