DOW JONES
Dow Jones has successfully broken out of the consolidation pattern. 35000 has become new
support and a target of 37000 can be expected this week.
GOLD
Gold has formed a hammer candle on weekly close which indicates bullish reversal. The RSI is
making a triangle pattern and breakout above the trendline will be a bullish sign.
BITCOIN
Bitcoin has broken out of consolidation and the target of $75-80k can be seen in the coming
months.
RSI is above 60 which indicates bulls are in complete control, the buying momentum shall
continue.
ETHEREUM
Ether has broken out of the rectangle pattern. Ether is ready to test the 4k level in coming months.
Daily RSI trading above 60 is a sign of a bullish trend.
In conclusion…
The Stock market continues to remain bullish and is set for the target of 37000 level. Gold trades in
the consolidation zone and close above $1840 should trigger buying momentum.
Bitcoin and the crypto markets look strong and completely in control of bulls. Ether appears strong against bitcoin throughout the cycle. The Alt coins have all the ingredients to outperform Bitcoin, fundamentally strong projects to make new highs in coming weeks.
The short term weekly trend for Crypto markets looks Bullish. Below are the highlights of the
week
● AMC Entertainment will have technology to receive bitcoin as payment by year end
● Standard chartered plans new crypto broker service in Ireland
● Saverin-backed exchange CoinDCX becomes India’s first crypto unicorn
● Venmo launches crypto cashback for credit cards
● Coinbase posts record profit of $1.6 billion for Q2
WRX, HNT, AAVE and LINK appear strong against Bitcoin. As mentioned in our previous weekly
report, LUNA and FTT gained 17% and 8% respectively in the past week compared to Bitcoin
gaining 3.8% in the same time period.
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