Hello,
Let's start this week market analysis.
BITCOIN
DAILY - LONG TERM
The market remains in a downtrend, strengthened after breaking the support at $32,000. We can see in the chart a scenario in which a full Fibonacci extension would push the price of the asset up to around $12,000.
I personally believe that we will be able over the next few weeks to break the $30,000 and $28,000 region, but I don't believe the market will break the $20,000 support.
The $42,000 region has become a region of strong resistance in the market today.
GRAPH 4h - MEDIUM TERM
The bearish alignment on the 4-hour chart, together with the bearish convergence on the daily chart, show the clear possibility of new lows in the coming days.
Major resistances are at $33,200 and $37,300 while major supports are at $30,000 and $29,800.
ETHEREUM
DAILY - LONG TERM
The market follows seller.
We may currently have a fund in the region of $2,200. The main support of this move is at $1,700.
Major resistances are at $2,800, $3,200 and $3,600.
GRAPH 2h - MEDIUM TERM
As with Bitcoin, Ethereum also has a bearish convergence on bottom pressure in the same direction.
We have a support region between $2,200 and $2,000, which tries to hold the market in the medium term.
Major resistances are at $2,500 and $2,700.
GOLD
The decrease in liquidity in the markets also hit gold, which was one of the factors that prevented the price from surpassing the $2,000 region.
Currently at $1,850, gold is in a downtrend aiming to test $1,700.
For the long term, we continue to believe that gold will once again break above the $2,000 region.
DOW JONES
Currently at 32,000 points, the expectation is that the Dow Jones will break the 30,000 point support in the coming months, with an eventual acceleration in interest rate hikes in the US.
The main supports are at 31,700, 31,100 and 30,000 points.