According to Mihir (@RhythmicAnalyst), using a quality indicator on the BTC 1W timeframe can objectively view price action and trend without bias. Key support levels and probable resistance levels are noted, important for traders to determine entry and exit points. BTC's trend is considered to weaken if it falls below certain levels, vital information for risk management.

According to Mihir (@RhythmicAnalyst), Ethereum (ETH) has once again bounced off the green line, indicating a strong technical move. The analysis emphasizes the importance of the closing price as a reliable metric for trend analysis, rather than intra-week highs or lows. This insight is crucial for traders focusing on Ethereum's price movements.

According to Mihir (@RhythmicAnalyst), the DXY (Dollar Index) 1D trend remains upward, which has implications for cryptocurrency markets. The recent correction in the dollar index is seen as positive for crypto assets. However, Mihir notes that crypto trading algorithms likely require a confirmed breakdown of this DXY trend to trigger significant trading actions.