Weekly Market Summary – Week 35


Dow Jones has been trading between the channel pattern for more than a year now. Bounce
back is expected from the lower trendline of the channel pattern and 10-20% upside could be
expected in coming months


Gold has given a break out of the channel pattern on daily timeframe, Day close above $1921
would trigger a buying momentum and a downward trend reversal may be seen.


Bitcoin has been trading in the channel pattern and would bounce back from the lower side of the
channel. Upwards move till $57,000 may be seen in coming weeks.


Ether and Bitcoin have been trading in the similar channel pattern. Ether seems to be ready to
retest its previous high of $4,300.

In conclusion…

A 10 to 20% upside is expected on DOW JONES and same gains can be expected in global stock
markets. Gold is showing signs of revival and a trend reversal may be seen in coming months.

Bitcoin is expected to gain 10-15% and move towards the $57,000 level in the coming weeks.
Ether seems to be ready to retest its ATH(all time high) of $4,300. Quality Altcoins should continue
to make new highs.

The short term weekly trend for Crypto markets look Bullish. Following are the highlights of the
week –

● Cryptocurrencies gain legal status in Texas as new laws take effect
● Shop.com now accepts Bitcoin payments after partnership with Bitpay
● India crypto exchanges allow bank deposits
● Coinbase launches Ethereum staking for Britons and Germans

THETA, BAND & COTI appear strong against Bitcoin. As mentioned in our previous weekly report,
LINK gained 20%, MANA & AAVE gained 15% in a week compared to Bitcoin gaining 3% in the
same time frame.

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