Gradual return of the market to a bullish trend
Updated
Today I want to once again consider the position of the market, based on the results of last week. The week turned out to be quite negative, the breakdown below 2000 against the background of a strong dollar was an unpleasant surprise, but for now we remain in the flat zone around 2000. Given the bullish trend formed, further sales are still premature and the current market decline looks more like another giveaway game. To leave unprocessed bullish targets at the end of the month. The opening of the new week was carefully adjusted to 1850+ to maintain the market in the range of 2000+-150.
This week, the fight will continue and the bears will look for reasons to expand the flat range to +-250 with an attempt to break through 1750. This is a key support for a trend change. Given the large number of negative statistics on the United States for two weeks, the probability of sales below 1850 is still quite low. I expect a pullback in the first half of the week to retest the narrow range of 1925-1975. A breakdown of 1975 is necessary to re-exit above 2000. Further, depending on the dynamics of the dollar and the statistics coming out, we will either gain a stable foothold above 1925, which will allow us to hope for a rebound before the end of the month and a positive opening of a new monthly candle, or we will get additional reasons to delay the retest of the opening of the week or a new attempt to go to 1750. In this case, due to the opening level of the weekly candle, you can still count on a payback at the end of the week, but the prospects for the next month will become more negative.
The absence of a general drop in the market is already enough to form a reversal for individual coins, let's see who will break out first. As before, the most interesting for me are the most oversold coins such as uft pros vib cvp torn perl for pnt ooki and asr atm fantokens. Most of them have already completely extinguished the fall and are preparing for a reversal. You can also re-consider coins that have returned to powerful support, such as wtc dock fida front akro, with likely growth waves of up to 40-50%.
Nebl, which I mentioned as a dangerous but interesting tool for scalping, also showed itself very interestingly. After delisting on binance and listing on poloniex, the coin is gradually re-traded. On small waves, as it seems, there was already a profit of 30%. Further, we can expect an expansion of the range of price movement with tests of new levels. Key levels in the swing of a new trend 0.2-0.25-0.4-0.6-0.75-0.9-1.25. If there is a rollback from each of the levels, it will give very good opportunities for earnings.
This week, the fight will continue and the bears will look for reasons to expand the flat range to +-250 with an attempt to break through 1750. This is a key support for a trend change. Given the large number of negative statistics on the United States for two weeks, the probability of sales below 1850 is still quite low. I expect a pullback in the first half of the week to retest the narrow range of 1925-1975. A breakdown of 1975 is necessary to re-exit above 2000. Further, depending on the dynamics of the dollar and the statistics coming out, we will either gain a stable foothold above 1925, which will allow us to hope for a rebound before the end of the month and a positive opening of a new monthly candle, or we will get additional reasons to delay the retest of the opening of the week or a new attempt to go to 1750. In this case, due to the opening level of the weekly candle, you can still count on a payback at the end of the week, but the prospects for the next month will become more negative.
The absence of a general drop in the market is already enough to form a reversal for individual coins, let's see who will break out first. As before, the most interesting for me are the most oversold coins such as uft pros vib cvp torn perl for pnt ooki and asr atm fantokens. Most of them have already completely extinguished the fall and are preparing for a reversal. You can also re-consider coins that have returned to powerful support, such as wtc dock fida front akro, with likely growth waves of up to 40-50%.
Nebl, which I mentioned as a dangerous but interesting tool for scalping, also showed itself very interestingly. After delisting on binance and listing on poloniex, the coin is gradually re-traded. On small waves, as it seems, there was already a profit of 30%. Further, we can expect an expansion of the range of price movement with tests of new levels. Key levels in the swing of a new trend 0.2-0.25-0.4-0.6-0.75-0.9-1.25. If there is a rollback from each of the levels, it will give very good opportunities for earnings.
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The week, as expected, is very difficult and flat. After the market was extinguished last week, the US is taking measures to hold the market, but technically further sales are still premature, plus it supports the opening level of the week and the bulls still have a couple of weeks to fight for a break. So far, the statistics have allowed the market to follow the most negative scenario, they have drawn an attempt to go to the 1750 test with a further rollback to the 2000 retest, as I indicated, everything is very technical. Today is an important day with the determination of the direction for a repeat test of 1750, already with a possible small breakdown, or for a return above 2000 with consolidation. Given the medium-term picture, I am still in favor of the second option and saving purchases until mid-May. In the case of a 1750 breakdown test. As I wrote, at the end of the week we are waiting for a second payback based on the opening level of the week. In this case, today is as close as possible to the night and tomorrow evening you can top up positions for the weekend with the expectation of buying off a weekly candle.
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And so, apparently, we continue to follow an optimistic scenario. A strong drawdown of GDP will play a major role. Depending on the money management, from now on it is possible to top up positions on individual coins. With the best option for the tops by the end of the week, we will see the overshoot of last week with continued growth at the beginning of the month. With a more modest, the ether will pull up to a flat in the area of 1975-2100 with an attempt to move over next week.
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