What Market Phase are we entering into has been the introductory question for our last appointments. Are we going to listen to the Bulls or the Bears?
Are we going to see a Bull Market or a Bear Market?
Welcome to Surfing the Market, we are already at our 83rd appointment and I hope that with these easy tech analysis we have helped you in some forms, even just to evaluate different market perspectives.
Source: trading view - weekly chart
Bitcoin was rejected at the red level, dropping exactly to the green level. Price can consolidate in this area, and we must be careful before entering long again.
Source: trading view - daily chart
Key levels have already been confirmed with the Green level that already acted as a strong support for the quick price drop from yesterday.
I was quite happy with that as I got some Limit buy filled on Hive/HBD market, preparing the next power-up of January :D
Sell-off was created to gather liquidity and more than 250M$ has been liquidated in long positions. That are great buys for big players.
Source: trading view - Dollar Stength Index
DXY is still floating in the area of 103-104 points and there is much expectation from today’s USA inflation data.
Source: trading view - daily chart
Moving averages are bullish but they are far from the price action so they are not yet giving strong information.
Ichimoku Cloud are expanding, and now the upper limit is in 41500$ area, that can act as an area of support.
Source: trading view - dailly chart
Source: trading view - daily chart
Volumes are entering the game, meaning that the buying pressure is real, even during sell-offs.
Last week I was writing this:
With no immediate consolidation, the price started bullying. I expect now reaching the red line but some long-squeeze may then happen.
And the long squeeze happened when touched the red line. I expect now some consolidation and a potential next bullish movement.
Stay tuned and be sure to follow to get noticed when my contents come out.
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None of what I write can represent a financial advice in any form. So Do your own research before taking any kind of action.
