This is my weekly analysis of the market related to bitcoin, ethereum, gold and dow jones.
Bitcoin
Daily Chart - Long term
Bitcoin renews the historic high by trading above $28,000.
If this region is consolidated as the top in the medium term, we can use the fibonacci retraction of the image to check some support points, especially the region at $19120.
On the buyer side the target would now be 30/35k
2h Cart - Short Term
Upward trend maintained, however, we have already had two tests in the red region support, which indicates that next test could break the support and lead to a test in $ 25000, yellow region.
A 2h chart time correction could be quite cool to make some supports stronger in the current bullish move.
Ethereum
Daily Chart - Long term
If Bitcoin had its magic number at $20,000, ethereum also has its mafic number at $1,000, the big difference is that $20,000 would be the historic top in Bitcoin, while $1,000 would still be relatively far from the historic top in the ethereum.
With the current price in the region of $730, the market continues in an upward trend, with key support points of $650, $625 and $510, while the magic number of $1,000 is the great resistance.
2h Cart - Short Term
The market in the short term ended a strong divergence that it had with the daily chart, now both are in bullish zone, which helps in the speed of the buyer movement.
The next target in the market would be $800, with $690, $650 and $625 as a strong support trio.
Another factor that can help accelerate the buyer movement in ethereum is the flow coming from bitcoin itself.
Gold
The failure to break support at $1800 continues to serve as fuel for the market to target testing at $2000.
If the market exceeds $1906 we could have a strong bullish pace and accelerate the buying race to $2000.
The strength of the stock market in the USA is helping to fuel the selling force in gold, any correction in the stock market could help the gold buyer bias.
DOW JONES
The market registered another historic maximum, but the buying force is no longer the same, causing some questions about the market to continue above 30 thousand points.
Supports are at 29800 points and 28600 points.
The main resistance zone at the moment is between 30 and 32 thousand points.