Weekly Crypto Market — February 21, 2022 Issue

Table of Contents

Overview of BTC (Mid-term, long-term, short-term technical analysis + Nasdaq Composite Index technical analysis)


Overview of BTC

This week, the market was rejected from the heavy upside and began falling again, with the weekly bar being likely to be confirmed by the hidden line. There is a high possibility the ranging market will continue ($30,000 to $ 40,000), and we think the horizontal axis will be adjusted. This should be kept in mind.


Medium / Long Term

↓ BTCUSD weekly candle chart

Last week it was confirmed with a small candlestick whose head was held down in the resistance zone of the horizon (white box in the figure) (Ranging market price when viewed with lower wicks).


This week it was likely to be confirmed by the upper wick shadow line, and it was a down market in the short term. Impression is altcoins won’t rise much and will be difficult for them to.

We will continue to assume the monthly bar is a positive trend, and even if it falls in the short term in the future, we will build a short-term long position against the opening price of the monthly candle ($38,500) (as it seems buying will be conducted with the opening price of the monthly candle in mind).


I haven’t really thought about daily level charts this week, so I hope you’ll refer to last week’s article.


Short term

Even in the short term, it is often linked to the US index. Again, there are many volatile movements correlating with US100 (Nasdaq Composite Index), so be careful when trading if you are not seasoned. Especially at 23:30 when the US market opens, volatility tends to be high. However, the impression that it may stop at the horizon or zone where it should stop.


One thing I recently noticed is even when the interlocking is strong, there is a tendency to regain the ego that is out of the interlocking in the price range that is likely to be conscious of BTC (horizontal line such as resistance support). One example is the movement of the $40,000 breakdown on 2/19. Check out the short-term chart.


Daily technical analysis of Nasdaq Composite Index (US100)

Since BTC and the Nasdaq Composite Index are linked, it is necessary to grasp the outline of the Nasdaq Composite Index chart, thus briefly grasping the current situation.


Price ranging as it seems to be conscious of the daily chart of the US100

The price range that is likely to be noticed on a daily basis of US100 is the image in the above figure. With this in mind, it’s a good idea to compare and refer to the BTC chart (I do at least).

For example, refrain from new shorts in the price range of the white box where the Nasdaq Composite Index is expected to rebound.