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Psychologicallevel

Weekly BTC-USD(23rd August)Bitcoin continues its uptrend for the 5th consecutive week, the bulls overall dominated the whole crypto ecosystem as the combined market capitalization reached more than $2.2 Trillion. BTC witnessed a volatile last week as it made a low of $43,955 but strong buying pressure pushed the price to $49,821. At the time of writing, BTC has been trading slightly above $50,100. Currently, BTC has been trading in a crucial range of $50-$51K as it can act psychologically. BTC has now appreciated by more than 70% from its July lows which mildly depicts a cooldown phase or a consolidation phase in the coming days. However, weekly RSI is still not in the overbought zone which suggests that this rally can continue. On the higher side, BTC has a stiff resistance in the range of $50.5K to $51K, if it decisively breaks this range, the next potential target would be $53K followed by $55.5K. On the lower side, the nearest support is present at $48.5K, followed by $47K. Weekly MACD is also entering into the positive zone which depicts that buying momentum should continue in the coming weeks, but a daily closing above the level of $50.5K will act as a confirmation to go Long.
COINBASE:BTCUSDLong
by TradeDog-Research
Nifty 50 View For The Budget Week!During the last few days I have been hearing a lot of noise from various sources that after the budget the market will crash badly and nifty 50 will break the 14000 levels and correct itself until 12000 levels. However, I have a totally opposite view and a perception towards the market post budget. I think that the rally which came from the 7000 levels, its top has not been made yet and I feel that post budget nifty will again test its ATH and move further ahead. My analysis has been briefly explained below:- 1) Budget view- I am expecting a very decent budget. Nothing too extraordinary nor anything to worry about! 2) Now coming to the main analysis, tomorrow (ie. 27-01-2021, Wednesday) if the Tuesday's low is broken out then it is highly probable that Nifty may test 14000 levels within 1-2 days max. 3) 14000 being a very major support level for nifty, and if we see that after testing the 14000 levels nifty starts taking support over there and does not breakdown further, this will be the first bullish sign of the upcoming rally we may witness post budget. Also, we can clearly see on the chart that the 50% correction fibo level for the rally which came from the 13150 levels for nifty 50 comes out to be around 14000. 4) After taking support at 14000 levels till Thursday, nifty may move towards the range of 14360-14500 which is a major confusion zone (marked on chart) for both bulls as well as bears and none of them will create any big positions for the budget on Friday if nifty closes within this range on Friday. This will give us further confirmation for our bullish view. 5) And finally after the budget we can expect a good rally of about 500-700 points in nifty 50 provided all of the above mentioned things happen within this week. 6) I will be creating my positions based on the above analysis. I will create a few bullish positions when nifty starts taking support at 14000 and then later on Friday I may add on to my positions if nifty closes between the confusion zone. P.S. This is just my view and please consult your financial advisor before taking any positions. Also, do share your views in the comments. Thanks Saurabh Sethi
NSE:NIFTYLong
by SaurabhSethi
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