Hello Riders
,
I hope this message finds you well. As always, I'm here to share some updates on the latest market movements.
Here's a summary of what we'll cover today:
Nasdaq with a small recovery versus last week.
Bitcoin is performing well and is no longer lagging behind Nasdaq.
Altcoins are currently testing the weekly resistance.
On the 1W chart everything looks OK, assets fighting to hold after the breakout a few weeks ago.
On the 1D chart right now there are take profits signals on both NASDAQ and BTC so expect some correction.
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Let's dive in:
Nasdaq: Last week, we saw a significant dip in the index, but this week we have witnessed a slight recovery. The index is currently trading just above the Rider Band and remains above the macro trendline, which is a positive sign. We will have to wait and see if the recovery continues, but for now, things are looking up.
In case there is a retracement, that macro trend line will act as support, that will be a moment of truth for the markets.
NASDAQ 1W chart
2. Bitcoin: The digital currency has been performing relatively well. It is currently trading within the weekly band and is no longer lagging behind Nasdaq. Both are now almost at the same level relative to the Rider Band. This is a significant improvement and indicates that Bitcoin is on the path to recovery. No bearish signals on the 1W chart, except for the red B on oscillator.
In case price goes down buy zone is on the chart below.
If you are using leverage, make sure to check the 1D chart, there is a Take profit signal and Bitcoin is inside the Take profit Zone, it needs to close above 25K for zone to be invalidated.
BTC 1W chart
3.Altcoins: They are currently testing the weekly resistance and it's important to be cautious. Overall i would take profits agressively on ALTS until the red line is broken with a candle close.
As always, it's best to be patient and wait for the right opportunity to enter the market.
Altcoins 1W chart
In summary, we have seen some positive developments this week. Nasdaq has made a small recovery, Bitcoin is performing well, and the altcoins are in a critical phase. As always, it's essential to remain vigilant and stay informed.
Thank you for being a part of our newsletter community, and we'll see you again next week with more updates.
Best regards,
TR