WEEKLY MARKET REPORT

 

NASDAQ – Global leading Tech Index

The NASDAQ Index broke out of resistance of 20k and gained by 3.6% in the last week. The next critical support is expected at 20,000 level and immediate resistance is expected around 20,700 levels for the coming week

The top gainers for the week were Tesla, Sirius & Meta gaining around 38%, 20% & 9% respectively.

The NASDAQ Index is expected to continue its upwards trajectory.

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market turned to the FEAR zone. Compared to last week, the Fear & Greed Index changed from “51” to “29”

 

BITCOIN – aSOPR

aSOPR for this week is equal to 1 which indicates that the investors are selling their Bitcoins at breakeven price.

 

CVDD-TOP CAP PRICE CHART INDICATOR

Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $377,000 

 

BITCOIN MVRV Z-Score

The period highlighted by the z-score (orange line) entering the pink box, indicates the top of market cycles. It also shows when market value is far below realized value, highlighted by z-score entering the green box. Currently we are in the middle of the bull cycle

 

Bitcoin chart

$BTC price broke the support levels of $56k & corrected around 11% in the previous week. The immediate support is expected at $56K and next resistance is expected at $86K. Bitcoin is expected to bounce back from the support levels in the coming week

 

ETH/BTC

ETH/BTC pair is breaking out of the descending channel. An immediate support is expected at 0.043 level and resistance is expected at 0.060 levels. ETH and Alt coins are at inflection point and present amazing risk-reward opportunity

 

NIFTY

Nifty gained around 1.3% in the last week. An immediate support is expected around 23,100 levels and resistance is expected around 24,600. Nifty is expected to consolidate for sometime

 

PICK OF THE WEEK – MARKSANS 

 

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