Coffee & Markets – Bitcoin ready to rise, Buy on EUR / USD and DAX


Let’s start by talking about bitcoin, which after consolidating on the support of 45,300 dollars, seems to be intent on continuing to the upside. Given the strength of prices, an arrival in the area of ​​48,000 dollars is very likely, where there are important resistances bequeathed by the lows recorded in February and March 2021.

Our strategy will therefore be that of wait for moments of weakness on the crypto par excellence, and then position ourselves higher. We will close part of the positions once the target highlighted above has been reached, and then evaluate what to do. It is difficult to understand now whether, once this level is reached, prices will continue to rise, or if they will reverse. Let’s now pass to the technical framework ofEUR / USD.

Forex, EUR / USD approaches important levels: how to trade?

EUR / USD is marking its ninth consecutive negative daily session, approaching 1.1700, a particularly significant level, given that it corresponds to the minimum of March 2021, as well as to the side band that affected prices in the period July-November 2020.

An extremely important level therefore, which – at least in the short term – should give a bullish point to prices. However, we must be very careful: lThe graphical structure of the EUR / USD looks very weak, with a distribution figure (see video) which could project prices towards new important lows.

Surely the 1.17 level, which we will now try to use for bullish trades, will also be used as a short entry point, should it be broken. Given the technical picture of EUR / USD, let’s now move on to that of the DAX.

DAX: the German index points to new highs

The index DAX it is one of the stock market indices that has performed best in the last period. The main European stock market has literally stuck to all-time highs for weeks, which suggests that it will mark new highs shortly.

However, the range 15,740-15,780 points is not easy to overcome, given its importance from a statistical point of view, which is why theif it breaks, it will most likely be very violent when it happens. Sudden movements up to over 16,000 points are not excluded.

Also in this case the strategy is upwards, positioning us long on the weakness, in particular when reaching the low part of the lateral movement in place.


Amazon: Is the online shopping leader cheap?

Amazon continues to grow and despite the positive results just announced, the stock collapsed on Wall Street. The reason is that analysts’ expectations were higher than the actual results reported from the colossus led by Andy Jassy.

In our opinion, the recent collapse is a buying opportunity, as prices are positioned on a strong support which will probably give a further upside to the trend. The long-term trend, in fact, was not in the least affected despite the sharp decline.

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