Market SituationThe crypto market has been corrective over the weekend with Bitcoin now trading in an established local down trend. Ethereum has been on a strong rally, now also experiencing a correction in sync with the recent dip on Bitcoin. Key levels of support are approaching for Bitcoin, they must hold for a new bottom to be in place. Breaking below high timeframe support levels will be a strong sign of weakness.GOLDhttps://ift.tt/kT0WUfp to bottom of its Bullish Order Block with a strong buy back, trading outside of the box will continue this current rise. The immediate resistance is the Weekly S/R which has the .618 Fibonacci in Confluence. A back test of this level is probable, this will confirm a Bearish Retest for a further correction down.SILVERhttps://ift.tt/E97evBz trading around its .618 Fibonacci Level where a bounce is likely to come to fruition. The immediate objective of this bounce will be the previous rage low; a Bearish Retest will continue to the current selling. A reclaim of the Range Low will then be a strong sign of strength, this will make the Range High retest more probable.BITCOINhttps://ift.tt/9auO2AB on the intra-day has rejected from the Range High of the current trading channel, leading to a pull back. Price action is currently testing its .618 Fibonacci, holding this region as support allowing for a bounce. Overall, price action is in a very critical area where a decisive move will dictate the immediate short-term direction.https://ift.tt/lCnuGsz current fear and greed index signals 00 – Extreme Fear, which is a change since the last update.BTC (1W Chart)https://ift.tt/9bdAspx on the 1W has begun its bounce from the Weekly S/R that has held support with a build-up of volume. Price needs to stay trading above the weekly support to increase the probability of testing the Value Area Low of the entire consolidation prior to the break down. This will put great influence on a temporary low being set, with a greater relief rally then being likely.ETH (4H Chart)https://ift.tt/OIyKFef is current experiencing resistance from a newly established Daily S/R level, breaking above it will continue the current rise. Price action is trading in a local range where the low is currently being tested. Holding above will simply lead to a rotation back towards the highs, this will test the current Value Area High.Total Market Caphttps://ift.tt/fhi51jH Total Cap is currently finding resistance from its 200 EMA after having a strong bounce from its 200 MA. Rotating back towards its 200 MA will place emphasis on a range between the moving averages. A break of this range will then confirm a directional bias, holding above the 200 MA is currently deemed bullish.Total ALT Caphttps://ift.tt/PMcpXSm Total ALT Cap is currently retesting on its 200 EMA, holding above is considered a strong bullish sign. Breaking below will increase the probability of a retest of the 200 MA, this region needs to hold as support for a bottom to be confirmed.Total Defi Caphttps://ift.tt/C4XQN0B DEFI CAP struggles to close above the .618 Fibonacci, leading to a potential pull back in the current range. The immediate support is the range mid, breaking below this level will increase the probability of a pull back towards the range lows. via /r/NWC_official https://ift.tt/QTbvI0s
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