Weekly Market Analysis

Hello,

Let's start this week, market analysis.

BITCOIN

DAILY - LONG TERM

After breaking the support at $20,000 and trading again above $20,000, the market continues in a downtrend, with the main supports at $20,000 and $17,800.

The market is expected to break the support at $17,800 in the coming weeks to start a new bearish wave.

GRAPH 2h - MEDIUM TERM

The 2-hour chart has entered a converging move, also representing a downtrend, as does the daily chart.

We are currently seeing a formation that could make a pullback to $25,000, then test support at $17,800, expecting to break the support and form new lows in the market.

ETHEREUM

DAILY - LONG TERM

The market follows seller. Currently, we may have made a very short term fund in the region of $900.

The main support of this move is at $900.

Major resistances are at $1,200 and $1,800.

A retest of the market in the sub-$1,000 regions is expected.

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 $1,050 and $900, which tries to hold the market in the medium term.

Major resistances are at $1,200 and $1,320.

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 $1,825, 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 31,200 points, the expectation is that the Dow Jones will break the support of 30,000 points in the coming months, with an eventual acceleration in the increase in interest rates in the US, which tends to occur until the end of the year.

The main supports are at 31,100, 30,600 and 30,000 points.

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