DOW JONES

The stock market has had a good run in the last couple of days. Dow Jones has broken out of
the channel pattern after testing the resistance at $34.8K levels several times. The RSI indicator
has crossed the 60 mark indicating a strong position.

GOLD
Gold has seen a strong weekly gain. However Gold could not hold above $1800 due to high
selling, possibly due to the news of Bitcoin futures ETF launch. Gold has broken out of the
channel pattern and the resistance level of $1925 is yet to be breached.

BITCOIN
Bitcoin rallied close to the $63K mark ahead of speculation regarding the Bitcoin Futures ETF
launch on Monday, 18th Oct, 2021. BTC has broken out of the channel pattern and we can expect
the momentum to continue into the week ahead. The next resistance is expected at $63.3K.

ETHEREUM
Ethereum is yet to see a strong run as compared to BTC.. ETH/BTC trend is still within a
descending channel pattern on the daily chart. Immediate resistance is expected at the $0.072
levels, breaking which we could see a strong rally in ETH and other Altcoins.

In conclusion…
The overall stock markets have seen a decent bull. Dow Jones Industrial Average saw a rise of
1.1% in just a day. We could see a sentimental relation connecting the Stock market and the
Bitcoin Futures ETF launch. Gold rallied up to $1800 but could not hold on to the
momentum.Bitcoin came out as the king among all of these instruments, nearly touching the $63K
mark. With the ETF listing, it’s only a matter of time before BTC crosses its ATH. Ethereum is yet to
see the same demolishing run as BTC. Altcoins could see fresh bullish rallies if Bitcoin continues to
dominate.

As mentioned in the previous report, we have seen a reversal of sorts in the Crypto markets as
Bitcoin surged to $63K levels. Following are the highlights of the week:-
● Bakkt is set to start trading on NYSE next week.
● SEC approves first U.S. Bitcoin Futures ETF from PROSHARES.
● The US Treasury publishes new sanctions guidance for crypto businesses.
● Uniswap Labs hires Democrat communications veteran amid regulatory scrutiny.
● One of Australia’s largest pension funds considers crypto investment.

CTSI, MATIC and GRT appear strong against Bitcoin and may outperform it in the weeks to come.
As specified in the previous report, AAVE has gained close to 15% in the last 4 days as compared
to BTC gaining almost 13% in the same time period.

Disclaimer: The opinions expressed in the report are for general informational purposes only and are not intended to
provide specific advice or recommendations for any individual or on any specific security or investment product.

DOW JONES

Dow Jones appears to be forming a Double bottom(“W”) pattern since the advent of September. The trend is about to break its pattern neckline with 33.5K acting as a support and 35.5K being the resistance level.

GOLD

Gold has gained marginally on the daily timeframe and is almost breaking out from the channel
pattern. Support and resistance is the same as reported last week i.e 1675 and 1925

BITCOIN

Having crossed the $50K mark, Bitcoin surged to $55K level in no time. We can expect bulls to
carry forward the momentum. The immediate support level is expected at $53K and next support
level at $40K.

ETHEREUM

Ethereum has not seen as strong a rally as BTC. ETH/BTC is trending within a descending
channel pattern on the weekly charts. Immediate resistance is expected at the $0.072 levels.

In conclusion…

In hindsight, the overall stock markets have been on a roller coaster ride since a couple of weeks
with major indices hitting new highs. Gold has been gaining steadily and a revival seems imminent.
Bitcoin crossed $50K, a sentimental landmark figure of sorts. BTC could be heading towards an
ATH soon. As indicated last week, Ether and other Altcoins could follow suit and make new highs if
the stock markets hold on above 33K levels.

As mentioned in the previous report, we have seen a bounce back in the Crypto markets as the
Bitcoin has surged to $55K levels. Following are the highlights of the week:-

● Invesco launches digital assets and blockchain thematic equity ETFs in the U.S.
● Nigerian central bank to launch digital currency within days.
● Total value locked in DeFi hits an all-time high.
● China proposes adding cryptocurrency mining to ‘negative list’ of industries.
● The Biden administration is weighing an executive order on cryptocurrencies.

COTI and AAVE appear strong against Bitcoin and may outperform it in the weeks to come. As
specified in the previous report, FTM has gained more than 50% in a week compared to BTC
gaining almost 25% in the same time period.

Disclaimer: The opinions expressed in the report are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

DOW JONES

Dow Jones is seen forming a head and shoulder pattern. It can be observed that 33K is acting
as support and the resistance level appears to be at 35.5K

GOLD

On the daily time frame, RSI on gold is gaining strength. We can expect buying momentum for
gold in the weeks to come. Support and resistance is the same as reported last week i.e 1675
and 1925

BITCOIN

Bitcoin has broken out of the descending channel pattern. Buying momentum is expected to carry
on. The support level is expected at $43K and resistance level at $53K respectively.

ETHEREUM

ETH/BTC is trading close to the resistance level of 0.072. Once this level is broken, we could
potentially see a significant rally in Ethereum and Altcoins

In conclusion…

In retrospect, the overall stock markets seem to be in the supply zone and profit booking is
expected to continue for a couple of weeks more. Gold has entered a fresh buying zone at this
level and we could soon expect a revival. Bitcoin has eventually turned bullish after a long slumber,
but one needs to be cautious as the Dollar Index appears strong. Ether and other Altcoins could
make new highs if the stock markets hold on above 33K levels.

As mentioned in the previous report, we can definitely see a bounce back in the Crypto markets
as the RSI has broken out from the pattern for BTC. Following are the highlights of the week:-

● The Biden administration seeks to regulate stablecoin issuers as banks.
● Singapore grants crypto license to DBS unit, an Aussie exchange.
● El Salvador officially starts volcano-powered Bitcoin mining.
● Nearly 41% of the capital allocated in September so far has gone to NFT & Gaming
projects.
● Visa develops an interoperability concept for central bank digital currency payments.

ICX, IOST and FTM appear strong against Bitcoin and may outperform it in the weeks to come. As
specified in the previous report, AAVE has gained 15% in a week compared to BTC gaining 12.5%
in the same time period.

Disclaimer: The opinions expressed in the report are for general informational purposes only and are not intended to
provide specific advice or recommendations for any individual or on any specific security or investment product.

DOW JONES

DowJones has been consolidating within the rectangle pattern for 20 weeks now. 33,000 levels
acts as support and 35,500 acts as resistance. Breach of these levels would indicate further
trend.

GOLD

Gold has broken out of the bull flag on a weekly timeframe. $1625 is the support and $1920 is
the resistance.

BITCOIN

Bitcoin has been trading in the descending channel pattern and bounced back from the lower side
of the pattern. Immediate support and resistance can be expected around $39000 and $53000
levels.

ETHEREUM

ETH/BTC is approaching the resistance level, if it breaks above this level we will see ferocious bull
run in Altcoins. 0.055 is the support and 0.085 is the resistance on a weekly timeframe.

In conclusion…

After 18 months of bull run, Rally in the stock markets has slowed down and consolidation is
expected to continue for a couple of weeks. Gold is showing signs of revival as it has broken out of
the bull flag on a multi week time frame.

Bitcoin and stock markets may consolidate for some more time as the dollar index is strengthening.
Ether may consolidate for a couple of weeks around $3000, Fundamentally strong Altcoins like
COTI would continue to make new highs.

The short term weekly trend for Crypto market is not clear, bounce back is expected as the RSI
has reached the oversold zone on Bitcoin. Following are the highlights of the week –
● Softbank leads $680 million funding round in NFT fantasy soccer game Sorare
● Bitcoin miner Genesis Digital Assets raises $431 million in fresh capital
● Invesco/Galaxy filed for a physically backed Bitcoin ETF
● UAE regulator agrees to support crypto assets trading

AAVE, COMP & LINK appear strong against Bitcoin and could potentially outperform Bitcoin in the
coming week. As mentioned in our previous weekly report, COTI gained 33.6% in a week
compared to BTC losing 11% in the same time period

DOW JONES

We can see a breakdown and weekly close below the triangle pattern which could put sell
pressure on markets. Immediate support may be seen around 33000 levels and the 2nd support
may be seen around 31500 levels.

GOLD

Historically on a monthly time frame, gold has taken support from 21 EMA and bounced back. It
is trading close to its 21 EMA and a bounce back is expected from this level.

BITCOIN

Bitcoin has been trading in the megaphone pattern and bounced back from the lower side of the
pattern. Immediate support and resistance can be expected around 43000 and 57000 levels

ETHEREUM

Ether has reached the support level against Bitcoin, bounce back is expected from this level. If the
support is broken then ETH may underperform BTC and the Altcoins rally may subside for
sometime.

In conclusion

Profit booking can be seen in the stock markets and the sell pressure may continue for a couple of
weeks. Gold is showing signs of revival as it has reached the buy zone on a multi month time
frame.

Bitcoin is expected to bounce back from current levels as far as $43,200 levels are defended. Ether
may slow down a bit for a couple of weeks as Bitcoin dominance is picking up. We may see
volatility in crypto markets as stock markets are under sell pressure.

The short term weekly trend for Crypto market is not clear, sideways movement is expected.
Following are the highlights of the week –

● Interactive Brokers group introduces cryptocurrency trading through Paxos
● CACEIS, the European bank with $4.96 trillion in assets under custody, is nearing the
launch of a crypto custody service
● Fidelity pushed for Bitcoin ETF approval in private SEC meeting
● Nils Andersen-Röed joins Binance from Europol to further strengthen investigations and
audit team

COTI, NEAR & ATOM appear strong against Bitcoin and could potentially outperform Bitcoin in the
coming week. As mentioned in our previous weekly report, AVAX and TRX gained 28% and 11% in
a week compared to BTC gaining 6% in the same time period

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