Market Analysis With Megh Mody

 Bitcoin daily chart As shown in the daily chart, BTC has been moving as per my analysis. I must tell all my readers that from the month of January 2022, I am in a view that Bitcoin will test $75000 this year (2022). To add, last year in the month of July 2021, I had predicted the reversal in this crypto and was successful. This year am expecting reversal. I have written many BTC articles, click on the link to see view the articles Bitcoin Elliott Wave Analysis https://www.marketanalysiswithmeghmody.com/2022/01/bitcoin-elliott-wave-analysis.html Bitcoin Revisited https://www.marketanalysiswithmeghmody.com/2022/01/bitcoin-revisited.html Bitcoin Elliott Wave and Neo Wave Analysis https://www.marketanalysiswithmeghmody.com/2021/08/bitcoin-elliott-wave-and-neo-wave.html As per Elliott Wave, I think wave y is finally over in the form of triangle. This completion has already opened the possibility of moving prices to a new high and to my above mentioned target. The summation is BTC is ve...

 Nifty Media daily chart The index has formed a tremendous foundation at the bottom and from there it started forming higher highs and higher lows which is a positive sign. At present it is precisely moving in a rising channel and has bounced from the channel support. At the lower end of the chart, a bullish reversal pattern is completed. This pattern is bullish cup and handle pattern. The target of the pattern comes to 2900 levels.  From Waves perspective, prices are moving in an impulse fashion where recently it has completed wave iv just on the neckline where it was previously facing the resistance earlier. Now it is moving higher in form of wave v, this wave can exhaust at 2600 mark which is 61.8% from wave i to wave iv or can extend till 100% of wave i = wave iii = wave v which is placed at 2900-3000 levels. The summation is Nifty Media index is positively poised and can move in a positive direction till 2600, a sustainable move above 2600 will open further positive possi...

 ETH daily chart As shown in the above chart, the trend is firmly positive as prices continue to protect its previous lows. Also the crypto is looking very strong to march north going ahead this year. From waves perspective, prices are moving in a impulse fashion from Dec 2018 till date. Here, ETH has completed wave 1 to wave 4 and it is all set to start wave 5 higher. This wave 5 can move towards $6000-$6100 levels over medium term. The summation is, ETH is positively poised and can move higher near till $6000-$6100 levels over medium term.

 EURINR spot 60 mins chart anticipated on 21st Feb 2022 EURINR spot 60 mins chart happened 7th Mar 2022 From my previous update in EURINR, I had mentioned that, " EURINR is negatively poised and can test the level of 81 over short term." Prices faltered till 83.5 and is showing signs of reversal which indicates that it wont sink further but will move up. I have made a serious attempt for the pair to tumble which it did to a certain extent. To view my previous article on EURINR, click on the below mentioned link https://www.marketanalysiswithmeghmody.com/2022/02/eurinr-elliott-wave-analysis_21.html As per wave analysis, I think prices have completed wave a at one higher degree and now wave b has started which can go up from current levels.  The summation is EURINR is all set to reverse and can reach a level of 85-85.3 levels over short term.

 Nifty Metal Index daily chart From the above chart, prices are moving in a higher highs and higher low and it continues to surge. The index is showing a immense strength and can even cross its previous high going ahead. As per Wave Analysis, the index has completed wave a in double correction and it is currently moving in wave b which can be a flat pattern (a-b-c), mostly irregular flat which can go to 6570 to 6750 levels. The summation is Nifty Metal Index is positively poised and can move towards 6570-6750 levels over short term.

 EURUSD Weekly chart From the above weekly chart, prices are moving in a sideways direction from past seven years and it seems that this sideways action is turning out to be completing symmetrical triangle pattern. As per wave theory, prices have completed all the legs of the triangle pattern and it is now set to move higher from current levels. The single currency can move close to 1.20-1.22 levels which will be the post pattern implication (Thrust) The summation is EURUSD is all set to soar till 1.20-1.25 levels over short to medium term.

 Solana daily chart As shown in the above chart, prices are moving in a positive direction as none of the previous bottoms has been breached. It will be important to see if the current fall will break the previous higher bottom placed at $20 levels where cluster of supports are placed. From Waves perspective, prices have completed impulse wave (1-2-3-4-5) and it is currently moving in corrective mode. I think it is moving in wave A in which double correction is seen.  The summation is, Solana is likely to move down to test the level of $25-$20 levels over short to medium term.