Weekly Market Analysis

Hello,

Let's start this week, market analysis.

BITCOIN

DAILY - LONG TERM

The market continues with its main downward bias, still pressured by the expectation of a 0.75% increase in interest rates in the US, as well as the growth of inflation in the US and Europe. Such factors have helped to bring down the world's exchanges and put selling pressure on Bitcoin.

At the moment we are seeing the market in a seller alignment.

For now, we believe that we are experiencing a pullback that could last up to around $32,000, perhaps later retesting at $17,000.

GRAPH 4h - MEDIUM TERM

Market in bearish convergence, a moment in which the 4-hour chart and the daily chart point the same trend, indicating supports at $21,200, $20,700 and $20,000. Major resistance points are at $22,500 and $23,000.

In case of a pullback, aiming to test the 50% Fibonacci retracement, the market will need a lot of volume increase, as the selling pressure will tend to be great.

ETHEREUM

DAILY - LONG TERM

Market is currently pulling back, entering a consolidation region, with main support at $900 and resistance at $2,000.

In the coming weeks, we may have a buying rush due to the approach of The Merge, which could also generate a selling wave soon after the merger.

Major supports are at $1,500, $1,100 and $900, while major resistances are at $1,810, $2,000 and $2,130.

GRAPH 2h - MEDIUM TERM

Unlike bitcoin, which has a converging market, Ethereum has been showing consolidation on the 4-hour chart, which makes medium-term trading more complex.

The main supports of this move are at $1,610, $1,530 and $1,500, while the main resistances are at $1,720, $1,780 and $2,000.

After the release of the inflation data in the US, the market gained a lot of volatility, with a mostly buying direction. Tomorrow, 25/8, we will have the release of the preview of the American GDP, which could shake the market even more.

GOLD

Market inside a consolidation, without a clear definition of the main trend.

We continue to believe that in the next buying wave** gold tends to seek the $2,000 region, but for now, let's keep an eye out for resistances at $1,780, $1,930 and $2,000.**

DOW JONES

Dow Jones in a retracement of the bullish movement, which went from 30,100 points to 34,300 points.

This retracement, also called a pullback or profit taking, may widen to something close to 32,100 points.

During the week we will see the release of the preview of the US GDP, with a negative variation being expected.

The Fed is expected to raise interest rates by 50 points at its next meeting in September. However, if the market starts to price an increase of 75 points, we will probably have an increase in selling pressure, and what is today a correction could become a trend reversal.