Weekly Market Analysis

Hello,

Let's start this week, market analysis.

BITCOIN

DAILY - LONG TERM

The market eased the selling pressure, entering a large consolidation region between $17,600 and $48,200.

At the moment we are inside the consolidation where we can find the closest support at $20,700, and we have the resistance at $24,800.

Although consolidated, the market has been forming a bullish channel, which can be better seen using the 4h chart.

For now, I believe we are experiencing a pullback that could last up to around $32,000.

GRAPH 4h - MEDIUM TERM

The market has been forming a bullish channel, with supports following within a channel at $20,700, $19,000 and $17,600.

On the other hand, major resistance points are at $24,200 and $24,700.

One of the factors that allows us to think that we are not in an uptrend yet is the fact that the moving averages are not aligned in the buyer direction, and the current movement is a typical movement of a non-aligned market.

The best scenario for short and medium term operations is to carry out operations in the direction of the main operation, that is, to operate in the sale.

ETHEREUM

DAILY - LONG TERM

Like bitcoin, Ethereum is also on a long-term consolidation.

In the case of ETH we have the main support at $1,000 while the main resistance is at $2,300.

We can list other support points as at $1,250 and $920, while also tracking other minor resistances at $1,720 and $2,020.

Due to the strength of the movement, ETH could end the year 2022 already in an uptrend.

GRAPH 2h - MEDIUM TERM

The market entered a bullish region, it was aligned for a while, however, now we are back within a consolidation.

The main supports of this move are at $1,550, $1,490 and $1,360.

Major resistances are at $1,700, $1,880 and $2,000.

The crypto market continues to follow the movement of US exchanges, paying close attention to the economic agenda.

GOLD

Looking at the 4h chart, we can say that** the market has been on a strong rally and has now entered a correction**, with key support at $1,750.

Gold continues with a long-term bullish outlook, aiming to overcome the $2,000 region, a point that would mark a bullish convergence in the asset.

Currently, the main resistances are at $1,760, $1,810 and $2,000.

DOW JONES

After several weeks of trading in a downtrend, we can see the Dow Jones index return to a bullish level.

Market trying to break the downtrend line, aiming to return to the strong high movement, aiming at 33,000 points.

In addition to the issue of inflation, interest rates and information on unemployment, the market is keeping an eye on the unfolding tension between China and the United States.