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 47th appointment and I hope that with these easy tech analysis we have helped you in some forms, even just to evaluate different market perspectives.

Let’s start from our usual weekly perspective

Source: Tradingview - Weekly chart

Banks keep defaulting, and the last week was the time for the uncertainty towards Deutsche Bank. Anyway, the key news is the CFTC going against Binance about Transparency, Cooperation, Trading and Licences.

You can have a look to CZ’s answer here.

What do I expect from a daily perspective?

Source: Tradingview - Daily Chart

While the Yellow area played a perfect role as a support, the red line played as a perfect resistance level for the price that paid some time trying to overcome it and the going down likely because of the CFTC news towards Binance’s attitudes.

Source: Tradingview - Strength dollar index

DXY is decreasing and the 102 points level is at a risk.
Mass media are trying to put some bad light on Russia and the new alliance between China and Russia, while USA banks keep failing.

Both of the examined Moving Averages (50 and 200 periods) are now below the price action: the red (50MA) is growing and the blue line keeps its steady growth. From the Moving averages I do not expect huge signals for the moment, even if the 50MA is now in the area of the Yellow support, still too far from the price action to give some indications.

Source: Tradingview - Daily Chart

Ichimoku Clouds are showing weakness in the coming days as the cloud reverses and in becomes thinner in the following days.

Source: Tradingview - Daily Chart

And now, what from a Volume perspective?

Source: Tradingview - Daily Chart

Volumes have decreased in the last days while they have been consistent in the previous days. I think that we need a couple of days more to address more ideas to the BTC trend, in order to understand how the Binance-CFTC thing will be solved and see if other banks are going to default.

What to observe particularly?

Deutsche Bank is still in a descending trend and we will need to see if any Central Bank will inject liquidity to save it, or not.

Source: Tradingview, Daily Chart of Deutsche Bank AG

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.