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Surfing The Market #12

What market phase are we entering into has been the introductory question for our last appointments.
Welcome to Surfing the Market, we are already at our 17th appointment and I hope that with these easy tech analysis we have helped you and we can help you further.

Let’s start from our usual weekly perspective



In the closing week we are currently experiencing a doji candle on the weekly perspective creating compression in the price. Doji are often considered both as a continuation pattern and a reversal pattern. Of course, if we had only one answer, all of the ones having it would already be billionaires, but we know that trading is a non-exact science. In this case, we are perfectly aligned with what I was sharing with you last week, about a potential breathing of the price run we were seeing.
At the moment, the Dollar Currency Index is still showing weekness but it may have found a support on this level


Screenshot on a D-TimeFrame of the Dollar Currency Index

Showing that Dollar strength is decreasing, indicating a potential further increase into the listed asset.

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We are in the very last steps of the test of a signal provider that will work with different timeframes with different parameters, each set of parameters optimized for the single timeframe. Here is a small snapshot of what we have performed so far



We are now creating exit strategies. In this project we are tech partners and we strongly supported a team that is going to sell it in public. We will have slots as well to allocate so if you are interested in such service, make sure to leave a comment here.
The chart above is from a Daily timeframe where you can see that the positions are quite distanced one from the other giving the people all the time to get out and get into the positions.
But now let’s go ahead with the analysis.

What do I expect from a daily perspective?



After some daily red candles we are now seeing a green candle bouncing on the maximum level of the spike from 8th July and the opening of the red candle from 25th July. This one can be a strong level where the movement can keep moving upwards.



Here is a daily chart, where the usual continuous red and blue lines are still clearly visible, plus the 200MA, on daily basis.
Price is reacting onto the local support and is directed towards the green line and the blue 200D-mobile average. The impact will happen in a few weeks. Will that be the time to get back to the 30k$ area?



Stochasting is in a “no-clue” area, meaning that it’s not telling us anything special. But we are approaching one more time the upper side of the Ichimoku Clouds. In the last days, the price has bounced back from the upper level of the Ichimoku Clouds that you should remember that represents linear (so with no amplifications) areas of price (meaning that they take into account Moving Averages). So, they often act as support and resistance levels.

What to observe particularly?

Trend is still bullish and breaking the upper horizontal level of the Cloud is my next target (25100$ with the 25500$ of the previous spike). The following one may be the area between 29000$ and 29600$, identified from another small horizontal level from the Ichimoku Clouds and the continuous green line.
Let me know what you think about this new weekly appointment, and what indicators you would like to be taken into consideration more (or even explained).
Stay tuned and be sure to follow to get noticed when my contents come out.
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None of what I write can represent a financial advice in any form. So Do your own research before taking any kind of action.

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MikeZillo Verified Member

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here Telegram: @mikezillo

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