Surfing the Market Update: Weekly Insights and Strategies
Written on
Market Phase Exploration
In our recent discussions, a key question has emerged: what market phase are we currently entering? Welcome to our 15th edition of Surfing the Market! I hope the technical analyses we've shared so far have been beneficial, and I aim to continue assisting you.
Let's dive into our standard weekly outlook.
Weekly Chart Analysis
The previous week confirmed a Doji pattern, indicating the continuation of the bullish trend in the current candle. Following the release of inflation data in the U.S., the price momentarily breached the $24,500 mark but quickly retraced below it. I still observe bullish signals, and today I opened a small long position, aided by the indicator my team and I are developing.
Currently, the Dollar Currency Index continues to exhibit weakness, reaffirming the existing support level.
The D-Timeframe screenshot of the Dollar Currency Index illustrates a decline in the dollar's strength, which could indicate a potential increase in the listed assets. This sentiment is echoed by Gold's recovery to the $1,800 per ounce range before recent financial news.
Have you ever wondered why my trading target is to acquire portions of BTC exceeding exactly 0.003 BTC? Share your thoughts in the comments!
Today, I executed a trade using the newly developed indicator for one of our commercial partners.
The green and red arrows in the image represent the signals used for buy and sell orders.
We’ve also been brainstorming exit strategies and plan to have a tech call this Sunday evening—because the market never sleeps!
Daily Perspective Expectations
What can we anticipate from a daily view?
A new peak from yesterday's spike has surpassed the current resistance level, suggesting that the price may experience less resistance as it moves upward due to a temporary depletion in the Order Book.
This daily chart clearly displays the usual red and blue lines along with the 200 Moving Average. The price has reacted geometrically to the upper limit of the Ichimoku Cloud, previously identified as a significant resistance point. We are approaching the 200 Moving Average.
The Stochastic indicator is trending towards the overbought zone, suggesting a possible reversal soon, especially if we break through the $25,000 level again.
Key Observations
The bullish trend remains intact, and my next target is to break above the upper horizontal level of the Cloud, aiming for $25,100 with $25,500 being the previous spike. The following potential range could lie between $29,000 and $29,600, as indicated by another minor horizontal level from the Ichimoku Clouds alongside the continuous green line.
I welcome your feedback on this weekly session, and I’m curious about the indicators you’d like us to focus on or explain further.
Stay tuned and ensure you follow along to receive updates when my new content is available!
Promotional Suggestion
Additionally, if you’re not keen on technical analysis or prefer not to spend time in the markets, I recommend checking out the Zignaly platform. As an official Binance Broker Partner with significant volume under management, they provide excellent Profit Sharing Trading services, allowing you to copy professional traders and share in the profits. Be sure to take a look!
If you’re interested in early notifications regarding the release of our partner's indicators, please leave a comment so we can gauge interest!
— — — — — — Please note that none of this content should be considered financial advice. Always conduct your own research before making any investment decisions.
Content distributed by Learn.Block6.tech ? Discord — Live Talks ? Twitter — Latest articles ? LinkTr.ee