Technical Analysis Summary
Last week we saw BTC decline from $50K down into weekly lows of $30K the lowest price of the cryptocurrency all year (so far). With BTC declining this also dragged majority of the ALT Coins down too as the market as a whole was down for the trading week. This was due to fear of China banning Crypto combined with Elon pushing a negative view on BTC. Moving forward even though we have seen a temporary pause in decline, I believe the retracement to the upside is a relief rally and I believe we will go lower before moving higher. I do believe the Crypto market as a whole is still very bullish but for right now we are seeing a correction before we eventually go higher once more.
EURGBP - FX
In EURGBP this week there is a great setup on the 1HR TF for a TC play. Price action most recently rallied into new highs of .8670's and we are also in a valid bullish trend. So the opportunity is to wait for the retracement and buy the market up on the pullback in anticipation for a retest of the highs once again.