the Monday market 

Breakdown

25/05/2021

The Monday Market Breakdown gives you a weekly insight as to what Henri is looking at on the price charts such through technical analysis to find new setups, analysis and discusses different trading topics. This is a great way to see real trading in real time and what you are actively learning put into practise.

Monday market weekly breakdown

Technical Analysis Summary

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Crypto markets

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.

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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.