The Crypto market has seen a downside move during the weekend, which might have something to do with a delayed response to the recent sell-off on stocks and commodities while the USD is trading higher. However, sentiment may turn to a risk-on mode after the latest reports that patients with new COVID variant need less medical intervention.
It appears like the media caused fear, which can slowly end based on a short-term outlook, which can be positive for stocks. Ideally, there will be a jump on DAX towards the 15600/15700 resistance area, where the index may slow down later this week.
DAX Technical View
DAX is down in the 4-hour chart after we noticed a completed five-wave bullish cycle from 14800 to 16400. So, it seems like a new, higher degree A-B-C corrective decline is now in progress on a daily chart, which can send the price even lower.
Ideally, back to the former wave 4 and 14800 support zone if not even lower, but more weakness can be seen after a corrective recovery in wave B that can be underway now. The first resistance is at 15600, and then the second is at the 15800-16000 area.
