What Market Phase are we entering into has been the introductory question for our last appointments. Are we going to listen to the Bulls or the Bears? Are we going to see a Bull Market or a Bear Market?
Welcome to Surfing the Market, we are already at our 33rd appointment and I hope that with these easy tech analysis we have helped you in some forms, even just to evaluate different market perspectives.

Let's start from our usual weekly perspective

Weekly chart - Source Tradingview

"In this "post-FTX-era" we are consolidating on a new price level in the 16500$ area and the volatility dropped. Investors are now cautious both in buying and in selling. Price in the moment has still some chances to raise up a little bit, towards the green line, but we have to see if other exchanges are going to default soon. Voices are running about a potential weakness from Crypto.com and Gate.io. You can read my last content about this topic here"

That's what I wrote the last Surf the Market analysis and as you can see, the price is still solid in that area, volatility is still low and volumes are not much high.
I will keep quoting myself:

"As said before, in my personal opinion Bitcoin price can only drop towards 15000$ if major bad news come up, like a huge electricity crisis, a mobile network crisis or a gas limitation from Russia."
Well, in this case, the major event happened but I did not consider the default of a Tier1 Exchange. And more Tier1 now are under the spot-light!

What do I expect from a daily perspective?

Orange support is resisting for the moment, even if I do not exclude some fake-breakout during the incoming weekend, where less volumes come into play and the market is potentially more easily orientable.

That is what I wrote last week. We saw the fake breakout that broke the Orange level that was actually immediately recovered as it seem to form a strong resistance for the price.

Dollar Strength Index has faced a small dead cat bounce but the trend is still openly bearish, allowing several commodities like oil and gold to recover in price.
50MA and 200MA give no more information in this moment.

Stochastic is rising towards the overbought area, meaning that apparently some confidence is given to the investors following the static behaviour of the price in these latest days.

What to observe particularly?

The whole cryptocurrency market is STILL in an uncertain moment due to exchanges Proof of Reserves audits and more FUD potentially incoming. I am quietly Bullish, and I have bought some more Bitcoin here at these price levels.
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.