This is a sunny review of CoinDesk analyst and chartered market technician Omkar Godbole.
DXY vs BTC
Last week, the Federal Reserve (FED) The first interest rate has been delivered since December, while signing more and more months. However, despite this so much move, the dollar index (DXY).
Dragonfly Doji gets its name from the unique “T” shape, resembling the fine wings of a dragonfly or the blade of a bamboo-copy toy. These patterns form when open, high, and close prices are almost identical, combined with a long lower shadow that reflects a sharp decline in price that is quickly reversed by buying pressure.
The DXY initially fell to the Fed Rate Cut news, which briefly sinks below July of less than 96.37, only to restore and end the week largely unchanged at 97.65, resilience supported US treasury yields.
The appearance of the Dragonfly Doji after a well -known downtrend and in critical support, as in DXY’s case, suggests an upcoming bullish shift in the market trend.
Traditionally, dollar strength corresponds to weakness in the dollar denomination and greater risk properties, which sets an interesting stage for the week in the future.
Bitcoin This mirrored theme this week ended on September 21, forming an undeniable DOJI candle in critical resistance marked by the trend from 2017 and 2021 Bull Market Peaks. Given that this doji appeared in such a significant long-term trend, it leaning a more bearish, sign of hesitance to the bulls to rule out price action and updated selling pressure from the main obstruction.
In the day -to -day chart, the BTC is teasing a move under the cloud of Ichimoku, with a trendline drawn from September 1 to be violated, indicating potential risk.
The first support line is seen at $ 114,473, the 50-day simple transfer of average, followed by September 1 near $ 107,300. The high week of $ 118,000 will have to overcome to soften the bearish case.
Ether range breakdown
Ether (Et) Facing its own technical dilemma; It hovers below the lower end of the contracting pattern of the triangle in the day -to -day chart, suggesting the seller’s altered dominance and potential for deeper losses. Breakdown put a focus on August 20 low to $ 4,062 followed by psychological support of $ 4,000. The 24 hours high of $ 4,458 is the level to defeat for bulls.
The macd flips bearish of XRP
Meanwhile, the XRP presents a frustrating picture for the bulls. Despite the recent debut of an XRP ETF in the US on Thursday, the MACD indicator crossed the Bearish on the weekly chart, indicating a modified bias. The price indicates that the XRP slides back to the upper border of a descending triangle in the sun -day chart. Although a temporary breakout took place last week, it failed to fire a long rally, which leaves entrepreneurs.
Focus on Fed Speak and PCE
This week, fed chairman Jerome Powell and nine other officials are set to speak, with markets likely to watch the same for clues in the interest rate trajectory. While Fed’s cut rates last week, signing more prevention ahead, Powell threw cold water optimizing by stressing a data dependent.
President Donald Trump’s appointment Stephen Miran will also speak of his independence as a policy manufacturer, who has mistaken in favor of an outsized 50 basic point rate cut down last week.
On Friday, the US Core PCE Index, the preferred fed inflation measure, was set to be released. According to Amberdata, data is expected to show that inflation rose 2.7% year-year, with a major leap of 2.9% in August, which marked a slight uprising from last month.
