Weekly Market Overview
The Monday session begins with a review of the weekly chart:
- Price Action: A rebound following consecutive bearish candles, with prices holding above key moving averages.
- Technical Indicators: MACD shows a bearish crossover, suggesting lingering downside potential—though weak retracements and higher highs indicate disrupted bearish momentum.
- Key Takeaway: The market has transitioned from a downtrend to consolidation, now testing critical resistance. A decisive breakout (up or down) will dictate this week’s trend.
Bitcoin (BTC) Contract Analysis
Daily Chart Insights
- Recent Close: Small bearish candle after a weekend of corrective consolidation.
- Structure: Prices realigned with moving averages, completing a healthy pullback. However, sustained upward momentum requires confirmation.
Critical Levels:
- Support: 29,500 (swing low) → 30,200 (Monday’s low)
- Resistance: 31,500 (recent high)
Trading Strategy
Long Entry:
- Zone: 30,200
- Stop Loss: 29,950
- Target: 30,800–31,000
Short Entry:
- Zone: 31,200
- Stop Loss: 31,500
- Target: 30,600–30,500
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Ethereum (ETH) Contract Analysis
Daily Chart Insights
- Recent Close: Small bullish candle amid range-bound action near resistance.
Key Levels:
- Support: 1,860 (multi-tested)
- Resistance: 1,938 (swing high)
- Indicator Watch: MACD maintains a bullish crossover, but overbought RSI warns of exhaustion.
Trading Strategy
Long Entry:
- Zone: 1,860
- Stop Loss: 1,845
- Target: 1,905–1,920
Short Entry:
- Zone: 1,920
- Stop Loss: 1,938
- Target: 1,870–1,860
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FAQ Section
Q1: Why is BTC struggling to break 31,500?
A: The zone represents a liquidity pool where sellers historically dominate. A closing candle above 31,800 is needed to confirm bullish continuation.
Q2: How reliable is ETH’s 1,860 support?
A: Triple-tested, it’s a strong psychological level. A breakdown below 1,845 could trigger a drop to 1,800.
Q3: Should I trade breakouts or ranges this week?
A: Range-bound strategies suit current consolidation. Wait for a 4-hour candle close outside 29,500–31,500 (BTC) or 1,840–1,940 (ETH) to shift tactics.