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In Germany, the Social Democrats have won the federal elections by a short head, and are better placed for a former government coalition for the first time since 2005 and to end 16 years with conservatives under Angela Merkel. The SPD is heading for 26% of the vote, ahead of the conservative CDU / CSU who would obtain 24.5%, according to the ZDF channel. He would thus place himself as a favorite to form a new government coalition and take the head of the Chancellery. However, the CDU / CSU arriving 2nd and not very far from the SPD, can also form a new government coalition even if this eventuality is less likely. #KomptradeNewsgermanelection2. Forming a coalition could take several months and will likely involve the Greens and Liberals of the FDP. "We are leading in all polls now," said SPD chancellor candidate Olaf Scholz during a roundtable discussion with the other candidates. "This is an encouraging message and a clear mandate to ensure that we get good pragmatic government in Germany," The SPD wins the ballot. Despite having achieved the worst score in its history, the CDU still has a chance to stay in the chancellery. The Social Democratic candidate has indicated that three parties - the SPD, the Greens and the FDP - are expected to form the next government. But for its part, the conservative CDU party also wants to form a coalition with the liberal party (FDP) and the Greens. Its vice-president, Julia Klöckner, called for "serious exploratory discussions" with the Greens and the FDP on a coalition. The FDP and the Greens will indeed play kingmakers after Sunday's federal elections. The two parties won 11% and 14% of the vote respectively. Michael Kellner, an environmental party executive said he found it "fair to speak with the FDP". FDP Secretary General Volker Wissing says forming a coalition is about adding value. The party would not be reluctant to form a coalition with the SPD (25.7%) of Olaf Scholz or the CDU / CSU (24.1%) of Armin Laschet. "It's the content that counts," said Volker Wissing. Even if the SPD wins the legislative elections, negotiations could last to form a coalition. The different political parties have different visions, in particular on the climate, the debt, the question of housing, the minimum wage. CHANGE OF ERA Attention should now turn to informal talks and then official coalition negotiations which could take several months, leaving Angela Merkel, 67, to act as interim head of the country. Both Olaf Scholz and Armin Laschet have said they hope to form a coalition before Christmas. "It's going to be about making deals among several players, and several options seem possible," said Carsten Nickel of Teneo, a consultancy firm. "Discussions could take time." Greens and Liberals as referees Because despite this second place, Armin Laschet is not yet out of the race. The Union candidate immediately gave strong nods to the Greens and Liberals of the FDP, who obtained 14.6% and 11.5% of the vote respectively. Two parties without whom nothing will be possible. Although Annalena Baerbock had a disappointing score, environmentalists are now in the kingmaker's position: According to the Greens candidate, "This country needs and wants a climate government, that is the lesson of these - Annalena Baerbock and Robert Habeck, leaders of the Green Party - elections. And we will fight for it with all of you. It is our responsibility for our country." Historic rout of the CDU With 25.7% of the vote, the SPD gained more than 6 points compared to four years ago. A comeback that contrasts with the historic defeat of the CDU: 24.1%, or nearly 9 points lost since the last legislative elections. A slap in the face for Armin Laschet and Angela Merkel's party. "We cannot be satisfied with our score. And yet everything is possible and the night will be long. Tonight's results are a huge challenge for Germany, the CDU and all democratic parties," said Armin Laschet , the Conservative candidate. After a ballot focused on mainly national issues, Berlin's allies will probably have to wait several months before knowing whether the new executive will want to get involved in international issues. On the economic front, French President Emmanuel Macron wants to build a common European fiscal policy, which the Greens support while the CDU / CSU and the FDP are against. Whatever coalition emerges from the discussions, friends of Germany will find that moderate centrism has dominated the campaign, while the populism that is successful in other countries has failed. According to ARD projections, the far-right (AfD) is credited with 10.9% of the vote, a score worse than four years ago when the Alternative for Germany won 12.6 % of ballots. The main parties have ruled out forming a coalition with the AfD.

We have identified 3 companies that will generate significant capital gains. They are ready to dominate their markets in 2022. Their stocks are still affordable as each of these companies are in the early stages of their adoption phase. In their field of activity, they position themselves on a market whose development will generate tens of billions and they implement innovative and essential technologies. They are ideally placed to take advantage of the coming technological boom. These companies are active in the following business fields: These companies will have strong growth in the short and medium term. Contact KOMPTRADE to receive information on these companies.

EUR/USD below 1.02. EUR/USD, the resistance of 1.03 has not been crossed and the Euro remains below 1.0230 against the Dollar. The value hovered around 1.0225 and even hit a low of 1.01. EUR/JPY: The Euro also started a fresh decline from the 138.00 resistance against the Japanese Yen. The EUR/JPY pair gained pace and traded below the 136.50 support level. the EUR/USD trend has been clearly bearish since last year and the short-term outlook has turned bearish since last week following the pullback below the resistance at $1.0350 and the upper limit of the descending channel in which it oscillates since early spring. The Dollar is holding up against the Euro as traders think the Fed's monetary tightening is bigger than expected, traders anticipate Fed rate cuts next year. Inflation, which is around the record level of 8.5%, should motivate the Fed to continue its rapid monetary tightening. Moreover, despite a difficult economic context, the USA is not experiencing a deep crisis like in Europe with the energy crisis. Our advise: The Euro risks continuing to fall against the Dollar and reaching values ​​of 0.83 if the energy situation in Europe does not improve in the Autumn.

World oil leader Aramco and Chinese company Sinopec have signed a partnership agreement on oil services, carbon capture and hydrogen. Saudi Arabian oil company Aramco has signed a memorandum of understanding with China Petroleum & Chemical Corporation (Sinopec) for multiple potential cooperations in Saudi Arabia regarding: engineering, procurement, construction management, petroleum services, upstream and downstream technologies as well as collaboration between carbon and hydrogen capture processes. This agreement will allow the Gulf countries to acquire CCUS technologies. CCUS is a term that stands for Carbon Capture, Using, Storage and refers to a family of technologies and technics that aim to capture CO2 for use or storage, preventing its release into the atmosphere This also concerns all national oil companies (NOCs) in the Gulf which are accelerating their investments in carbon capture, use and storage (CCUS), hydrogen and other green energies. The deal between Aramco and Sinopec is for CCUS and hydrogen while building a manufacturing complex at the King Salman Energy Park in eastern Saudi Arabia. Carbon Capture CCUS allows hydrocarbon companies to capture carbon from production processes, which can be stored, redeployed in enhanced oil recovery techniques or transformed into other consumer goods and sometimes even transformed back into synthetic fuel. With hydrocarbon producers earning sustainable revenues from high world prices, Gulf national oil companies are accelerating investments in carbon capture, use and storage (CCUS), hydrogen and other energies to make their activities less carbon-intensive and to support the energy transition. All golf oil companies invest heavily in CCUS technologies, however they adopt different strategies; While Saudi Aramco is partnering with China's Sonitec with a target of 11 million tpa of CCUS capacity by 2035, and achieving net zero emissions by 2060., currently, the Kingdom captures 800,000 tpa of carbon from its gas liquefaction plant in Hawiyah. Abu Dhabi National Oil Company (ADNOC) has signed an agreement with French company TotalEnergies to collaborate on CCUS and hydrogen with the aim of capturing 5 million tonnes per year (tpa) of carbon by 2030. Kuwait National Petroleum Company is also very involved in the CCUS. Due to all these signed agreements, the advantages of low-cost production and massive hydrocarbon resources, the National Oil Companies (NOC) of the Gulf, could become world leaders in the field of CCUS and hydrogen, thus allowing the world to continue to depend on oil and gas as part of the energy transition. "Additionally, with the cheapest solar power in the world, an abundance of wind power, and enough land on which to build green power generation projects, Gulf NOCs could be the first to produce and export green hydrogen, which could generate $200 billion in revenue by 2050,” according to a report by consultancy Roland Berger and Dii Desert Energy. The golf NOCs are in the process of successfully converting to the production of green and renewable energies, they will probably have a lead in this sector and will be able to benefit from increased technological collaboration with Asian companies. Our advice: Consolidate positions on NOCs.

Aramco, the world leader in the oil sector, is benefiting from the high prices on the markets. In the second quarter, it posted record net profit, up 90% to $48.4 billion. After announcing a net profit of 39.5 billion dollars in the first quarter, this result for the 2nd quarter brings Saudi Aramco's net profit to 87.9 billion dollars over the first six months of the year. Aramco and Sinopec sign a memorandum of understanding to partner on new projects between upstream and downstream companies, petroleum services, carbon capture, and hydrogen. The oil giant expects demand to remain strong in the coming decade. CEO Amin Nasser said: "Continuing to invest is essential, both to ensure sufficient production to meet demand and to get in line for the energy transition". The Saudi Arabia company is also confident that demand will continue to be strong in Asia, its most important market, where it has raised its selling prices to record levels. Aramco's April-June net profit rose 22.7% from the first quarter. Profit in the first half had reached $87.91 billion, compared to $47.18 billion for the same period of 2021. Demand will increase further Following the rise in oil prices, according to estimates published in April by the International Monetary Fund (IMF), Saudi Arabia's gross domestic product (GDP) will increase by 7.6% in 2022. In early August, the International Energy Agency reported that global oil demand is expected to rise more than expected this year as heat waves and soaring gas prices prompt countries to switch fuels for oil production electricity. The economy of the Saudi Kingdom depends heavily on the production of oil and oil derivatives, so from Aramco, economic instability in the country can have consequences for the Aramco company, which is why Crown Prince Mohammad bin Salman, new leader of the country seeks to diversify its economy. Dividend Aramco paid an $18.8 billion dividend in the second quarter and will pay out the same amount in the third quarter. Second-quarter profit, the highest since Aramco's IPO in late 2019, beat analysts forecast of $46.2 billion. As reminder, Aramco floated 1.7% of its shares on the Saudi Stock Exchange in December 2019, raising $29.4 billion. Our advice: Despite high stock value following record earnings, Aramco's presence will be strengthened in Asia. Advice on action: buy and hold. Strong growth potential until 2024.

"The Mariner East pipeline system provides the needed infrastructure to transport propane, ethane and butane, all known as natural gas liquids (NGLs), from the Marcellus and Utica Shale fields to markets in Pennsylvania and beyond". Construction of the pipeline took 5 years and faced many delays and legal complications. This pipeline was to bring natural gas to Scotland to supply there the plastics industry. This pipeline was finally commissioned and only operated for 1 week. The pipeline only worked for 1 week and broke due to a landslide, We recommend this article which explains the genesis of the Minesota pipeline. https://stateimpact.npr.org/pennsylvania/tag/mariner-east-2/ "Following an investigation by the Office of Attorney General Environmental Crimes Section and recommendations from the 45th Statewide Investigating Grand Jury, Sunoco Pipeline L.P. was charged with 48 counts of environmental crimes for their conduct during the construction of the Mariner East 2 Pipeline". The company Energy Transfer who is the pipeline builder "accepts criminal responsibility" for dozens of charges related to the construction of its Mariner East pipeline project. The company has thus waived the preliminary hearing and implicitly recognizes its guilt in the ecological disaster. In five years, Energy Transfer has been fined over $20 million for pipeline infractions. Energy Transfer has announced that it is voluntarily releasing a fund of $10 million for the rehabilitation of drinking water sources. Our advise. The company Energy Transfer should not suffer serious consequences, it is firmly established in Texas and had experienced record profits in recent years. Our advice is to hold or buy the shares of the company.

The world is facing a significant increase in energy prices. Gas, electricity and fuel bills are weighing more and more on family and professional budgets. In the second quarter of 2022, European and Asian gas spot prices averaged below first quarter levels but remained at seasonally high levels amid hyper-volatility. After an exceptional price surge in the days following the invasion of Ukraine in early March, prices fell back to levels of around $20/MBtu to $30/MBtu until mid-June. In Europe, the mild temperatures, the sharp fall in gas consumption, the growth in LNG imports and the high inventory filling rates had a moderating effect on prices. But since mid-June, the sharp reduction in Russian gas deliveries through the Nord Stream pipeline and the shutdown of a US LNG export plant have caused prices to spike again. Europe enters the third quarter on high alert, with the risks of prolonged disruptions to Russian gas supplies prompting emergency measures. Evolution of international gas prices in the second quarter of 2022. In the second quarter of 2022, European spot prices averaged $30.9/MBtu, down 5% from the previous quarter but posting levels five times higher than the average of the last five years for this period. As in the first quarter, market conditions were less tense in Asia, where spot prices averaged $27/MBtu, down 11% compared to the previous quarter. European and Asian prices remained at very high levels between $20/MBtu and $30/MBtu until June 13. Then the sharp reduction in Russian gas deliveries through the Nord Stream pipeline propelled prices to levels not seen since record highs in early March. In addition, the shutdown of the Freeport LNG plant in the United States following a fire on June 8 reduced the available supply of LNG in the Atlantic basin. European prices then recently exceeded $45/MBtu (€150/MWh). Asian market prices have followed the recent rise in European prices, against a backdrop of tight global LNG supply. In addition, an exceptional heat wave in Japan has generated strong tensions on the electricity and LNG markets, and the high temperatures expected this summer are exacerbating tensions in North-East Asia. The American Henry Hub price rose very sharply in April and May, reaching nearly $9/MBtu in early June, its highest level since 2008. Production growth was insufficient to meet both the rise in LNG exports and internal needs. But since then, the Henry Hub has experienced a sharp drop of almost $3/MBtu, mainly due to the closure of the Freeport plant, which has increased the available supply of gas for the domestic market.

The US Senate on Sunday adopted Joe Biden's plan, it will most certainly be approved by Congress on Saturday, where the Democrats are in the majority. #TESLASUBCONTRACTOR 75% of Tesla's subcontractors are in Taiwan, investments in electric cars are on the rise. Estimated $430bn economic package aims to slow climate change, control medicine costs, and tax corporations. The plan, namely "the Inflation Reduction Act", passed the Senate on Sunday by a 51/50 party line vote with Vice President Kamala Harris casting the tie-breaking ballot. This plan is the most daring budget voted in America, it will allow the country to perform the energy transition and a reduction in the cost of drugs. This bill provides: Invest $375bn over the decade in climate change-fighting strategies. Investments in renewable energy production. Tax rebates for consumers to buy new or used electric vehicles. He divided himself into several projects to include: $60bn for a clean energy manufacturing tax credit. $30bn for a production tax credit for wind and solar, seen as ways to boost and support the industries that can help curb the country’s dependence on fossil fuels. The bill also gives tax credits for nuclear power and carbon capture technology that oil companies such as Exxon Mobil have invested millions of dollars to advance. For consumers, there is a 10-year consumer tax credit for renewable energy investments in wind and solar. There are tax breaks for buying electric vehicles, including a $4,000 tax credit for purchase of used electric vehicles and $7,500 for new ones. The target is to put the country on a path to cut greenhouse gas emissions 40 percent by 2030. Companies to follow: Lucid motors. https://www.lucidmotors.com/ Tesla. https://www.tesla.com/fr_be Chang Chun Group. https://www.ccp.com.tw/ Hota Industrial Manufacturing Co. http://www.hota.com.tw/en/ Bizlink Holdind Co. https://www.bizlinktech.com/ And more... Join our Webinar.

The diversification of energy sources has increased considerably over the past 30 years, thus reducing the contributory share of oil and more generally that of fossil fuels. The weight of oil in the world economy has been greatly reduced compared to the 1980s. This weight, which represented 7% of GDP in 1980, is “only” 3.8% in 2022 (Fig. 21) . This is explained by energy efficiency efforts and by substitutions that have made it possible to greatly reduce the quantity of fossil energy, in particular oil, necessary to produce a unit of GDP (Fig. 22). #SRF. Solid Recovered Fuel (SRF) and other recovered fuels are increasingly replacing petroleum and fossil fuels in energy-intensive sectors. This share of 3.8% nevertheless remains very high compared to what we have known since 2014 (2 to 3%). Thus, the increase in global oil expenditure4 between 2021 and 2022 represents around $1,500 billion, or 1.4% of global GDP. This explains the downward revisions to global growth since the start of the year. For Europe, expenditure (excl. VAT) related to oil and gas consumption could reach around €1,200 billion in 2022 based on current price expectations for these energies (Fig. 23 and 24). This represents double the bill for 2021, with an increase of €600 billion, or 2.2% of European GDP. The stakes linked to price increases are therefore considerable for the European continent, which is also penalized by the weakness of the Euro against the Dollar. The price of oil expressed in €/b is 18% more expensive than in 2021 due to the euro going from $1.18 on that date to around $1 currently.

Russian Gazprom has signed an agreement for a gas pipeline that will cross Mongolia and will transport up to 50 billion cubic meters of gas to China. With the conflict in Eastern Europe dragging on longer than expected since it began in February, the use of energy as a weapon of war is gaining prominence. Russia is gradually losing buyers for its oil and gas. Germany has already halved its crude purchases in recent weeks, and the process will now intensify with the EU's veto of the Moscow pipeline. In response to EU energy sanctions, which started with coal, Kremlin expands retaliatory strategy #CHINARUSSIA. As economic and diplomatic sanctions rain down on Russia, Gazprom has taken an important step in a project to build a new gas pipeline to China. China's energy needs make the conflict in Ukraine a powerful catalyst for its rapprochement with Russia. Chinese economic growth requires a considerable energy input. One of China's major weaknesses is its energy supply, especially less polluting energies such as natural gas. Currently, China's energy mix breaks down as follows: 61% Coal; 19% Oil. 9% Hydraulics. 8% Natural Gas. 3% Renewable and nuclear energy. China's energy supply therefore depends on coal, which involves pollution and heavy infrastructure. Natural gas represents a less polluting and economically more profitable alternative. China is therefore ready to increase its supply of natural gas from Russia. Long before the conflict in Ukraine, Pékin already had this need. Following the European sanctions after the annexion of Crimea, it had increased its importation of gas coming from Russia and even exceeded Germany with petroleum products. China is therefore ready to absorb even more Russian gas and petroleum products, the question is whether Russia is ready to supply these products. For the moment, China is taking advantage of the sanctions to buy Russian products at a comfortable discount, this is beneficial for its energy bill, but constitutes a shortfall for Moscow, despite the increase in the price of petroleum products. On the other hand, an increasingly large share of sales of Russian gas and petroleum products to China and India are made on the secondary market where the prices charged are negotiated over the counter and are quite far from the primary market prices, the discount being sometimes very important. By turning to these countries, Russia is therefore not compensating for the losses suffered on the European market. However, other parameters come into play, namely the geographical and socio-economic context. Russia, extends over the European and Asian continents. When the Soviet bloc collapsed, Russia turned to Europe, which for it represented an economic power and a vector of development, the various crises made Moscow think that this era is over, Russia thinks that the europe will not be able to bring her more than what she has already obtained, today she is turning to asia which for her represents economic and technological power. After having given preference to Europe, Russia is now turning to Asia. The Chinese request for an increase in the supply of gas and petroleum products is/or will be accepted by Russia. Many agreements have already been signed, such as the gas pipeline "Soyuz Vostok" linking Mongolia and Russia. With this gas pipeline, China and Europe will share the same source of gas supply in Russia, if the latter has to make a choice, it will decide to deliver China. In the medium and long term, Europe must diversify these sources of energy supply.

Ripple XRP: after a temporary rise, the value is starting to fall against the Dollar. #BTCREGULATION In cryptocurrency trading, KYCs become mandatory. Proof that regulation is underway Ripple was unable to sustain its bullish momentum and after touching a high of 0.4096 on 30th July started to decline against the US dollar. We can see a continuous decline in the price of Ripple due to increased selling by the short-term investors. Now we are testing the important support zone located at 0.3700 which if broken will lead to Ripple touching the level of 0.3500. We can clearly see a three black crows pattern below the 0.4095 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend. Ripple touched an intraday high of 0.3939 in the Asian trading session and an intraday low of 0.3674 in the European trading session today. Both the STOCH and Williams percent range are indicating oversold levels which means that in the immediate short term, an upwards correction in the prices is expected. The relative strength index is at 41 which signifies a weaker demand for Ripple at the current market prices and the continuation of the decline. Most of the moving averages are giving a strong sell signal at the current market level of 0.3710. Ripple is now trading just above its pivot level of 0.3686 and facing its classic support level of 0.3637 and Fibonacci support level of 0.3674 after which the path towards 0.3500 will get cleared. Most of the major technical indicators are giving a strong sell signal. Ripple: bearish reversal seen below the 0.4095 level The average directional change is indicating a neutral level The average true range indicates high market volatility Ripple gains bearish bias against the US dollar Ripple: Bearish Reversal Seen Below 0.4095 We can see that the price of Ripple continues to move downwards with the formation of a bearish trendline, now trading below the 0.3800 handle in the European trading session today. The prices of Ripple are forming a bearish descending trendline below the 0.3800 level, and a continued progression is seen towards the 0.3585 levels. The short-term outlook for Ripple has turned bearish, the medium-term outlook is neutral, and the long-term outlook is neutral under present market conditions. We can see that Ripple was unable to clear its resistance zone located at 0.4100, and now the price is struggling to retain the bullish bias against the US dollar. We have also detected the formation of MA5 exponential crossover pattern located at 0.3700 which indicates that we may see a short-term upwards correction in the prices. The price of XRPUSD has decreased by 1.21% with a price change of $0.004539 in the past 24hrs and has a trading volume of 1.144 Billion USD. We can see a decrease of 13.79% in the trading volumes of Ripple as compared to yesterday, which appears to be normal. This Week Ahead Ripple has entered a consolidation zone above the 0.3600 handle, and the prices are expected to remain in the range bounded movement this week oscillating between the 0.3800 and 0.3500 levels. The price of XRPUSD is expected to decline further touching the 0.3300 handle after which a recovery is expected into the markets. We can see the formation of the adaptive moving average 20 and 50 crossover patterns in the 1-hour time frame, indicating the underlying bearish nature of the markets. The weekly outlook for Ripple is projected at 0.3800 with a consolidation zone of 0.3600. Technical Indicators: The relative strength index (14): at 41 indicating a SELL The commodity channel index: at -67.55 indicating a SELL The rate of price change: at -1.70 indicating a SELLThe average directional change(14days): at 14.72 indicating a Neutral

BTCUSD: Evening Star Pattern Below $24607 #BTCREGULATION In cryptocurrency trading, KYCs become mandatory. Proof that regulation is underway Bitcoin was unable to sustain its bullish momentum and after touching a high of 24597 on 30th July started to decline against the US dollar dropping below the $2300 handle in the European trading session today. We can see that after this decline the prices have entered into a consolidation zone above the $22500 handle. The prices have started to move in a descending trend channel due to the decrease in the demand and the continued selling across the global crypto markets. We can clearly see a bearish evening star pattern below the $24607 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend. Bitcoin touched an intraday high of 23438 in the Asian trading session and an intraday low of 22670 in the European trading session today. Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected. The relative strength index is at 37 indicating a weaker demand for bitcoin at the current market levels and the continuation of the selling pressure in the markets. Bitcoin is now moving below its 100 hourly simple moving average and its 200 hourly simple moving averages. Most of the major technical indicators are giving a strong sell signal, which means that in the immediate short term, we are expecting targets of 22000 and 21500. The average true range is indicating lesser market volatility with a bearish momentum. Bitcoin: bearish reversal seen below $24607 STOCHRSI is indicating an oversold level The price is now trading just above its pivot level of $22747 All of the moving averages are giving a strong sell market signal Bitcoin: Bearish Reversal Seen Below $24607 The price of bitcoin continues to decline below the $23000 handle, and we are now testing the important support level of $22000 in the European trading session. The global sentiments continue to remain weak and we can see more downwards correction this week towards the $21500 level. Bitcoin was unable to clear its resistance zone located at $25000, and now we can see a progression of the bearish bias in the markets. We can see the formation of a bearish harami pattern in the weekly time frame indicating the underlying bearish nature of the markets. The immediate short-term outlook for bitcoin is bearish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions. Bitcoin’s support zone is located at $21000, and the prices continue to remain above these levels for any potential bullish reversal in the markets. The price of BTCUSD is now facing its classic support level of 22500 and Fibonacci resistance levels of 22687 after which the path towards 2000 will get cleared. In the last 24hrs, BTCUSD has declined by 1.70% by 394$, and has a 24hr trading volume of USD 27.922 billion. We can see an increase of 20.09% in the trading volume as compared to yesterday, which is due to the selling seen by the short-term investors. The Week Ahead The price of bitcoin is moving in a mildly bearish momentum, and the immediate targets are $22000 and $21500 The daily RSI is printing at 52 which indicates a neutral market and the move towards the consolidation channel. The trendline formation is seen from the $24600 level towards $22600 indicating that if this bearish trend line gets exhausted, we may see an upwards correction in the prices. Bitcoin’s price may continue to remain in a range-bound movement between the $22000 and $23000 levels this week. The prices of BTCUSD will need to remain above the important support level of $21000 this week. The weekly outlook is projected at $22000 with a consolidation zone of $21000. Technical Indicators: The average directional change (14 days): at 27.18 indicating a SELL The rate of price change: at -1.38 indicating a SELL The relative strength index (14): at 38.82 indicating a SELL The commodity channel index (14 days): at -91.53 indicating a SELL