the6ylal

the6ylal Updated 

Considering the current channel we are in for Bitcoin, we have received a rejection from the upper band. With the awareness that we are already on a trend, a resistance coming from the upper band of the current channel is squeezing us. Considering the trend-based Fib levels, it seems inevitable that we will visit the $41,500 region. It supports this situation...

the6ylal

As it turns out, we have reached a resistance level located within a 2-layer channel structure. It probably seems only fair to inflict some pain on the bulls who took positions long before the ETF arrived.

the6ylal

When we examine the last 3 mismatches between the price and the Relative Strength Index, the view that emerges can give us an idea about the possible correction in the price.

the6ylal

As can be seen, Bitcoin is moving as expected within the ascending triangle formation, and we are currently on a stable path above SMA200 / 4H. Considering the Fib support and resistance, a correction to around $35K can be considered normal. If we can break the limits in this area, we can see a correction to $33.5K or even up to FWB:29K , which is our long-term...

the6ylal Updated 

Although it is thought that we have left the bear market and entered the bull market, BTC does not yet seem to have achieved its normal correction level at the required percentage. When we examine the LP and OTH focused fib retracement ranges based on the Rising Wedge phenomenon related to the Bear Flag formation we are in, it becomes clear that the correction...

the6ylal

After breaking down our current trend in the monthly timeframe, we experienced a fake break above the trend during the re-test process, but the price has fallen under the trend again. We can expect a pin below $10K, an accumulating price in the FWB:12K - FWB:14K range will easily take us to the Holy Target.

the6ylal

Considering the bear flag formation we are in, a situation awaits us that we can interpret as a trip below the 25.200 limit to get liquidity.

the6ylal Updated 

BTC is currently sitting in the Fibonacci 0.618 retracement area of the recent rise with support from the 200-period exponential moving average. The loss of this place could take us to the 25K region. My opinion about the decrease to the 12-14K range has not changed, I am waiting for the needles to the 9.3-9.8K range, but before this happens, BTC is still reading...

the6ylal Updated 

As it is known from the upper band of the channel we are in, the 200-week simple moving average and even a solid horizontal resistance area, we were rejected with the contribution of the deathcross realization and the negative discrepancy in the relative strength index and price correlation on the daily timeframe. The predicted decline and reaction rise areas do...

the6ylal Updated 

If we break the rising trend we are on in the weekly timeframe and close the candle below, the GOLDEN POCKET area that will welcome us is very clear. (Don't be afraid.)

the6ylal Updated 

If we look at the current situation, we are faced with an unexpected rise in the BTC table, considering both the USA inflation data, the global markets and the US Dollar Index . We've come to the resistance zone of an already rising channel , as if that wasn't enough, there is a weekly period death cross presence. In addition, there was a serious negative...

the6ylal

We had already broken an uptrend from around $3,200 to the present in September 2022. The price, which has tried to break this trend as resistance many times, has failed every time. What will happen now seems uncertain. If we can successfully move the price above the trend, maybe we have confirmation of the bull season. But until then, it's good to be very, very careful.

the6ylal

It seems that an H&S formation is forming. With a confirmed breakout, a short position can be tried up to around $22,300.

the6ylal

When we look at the picture from afar, we see that it is significant that the channels with a falling layer structure keep the price in balance. We have arrived at the final stop of a major layered channel structure in which the current consolidation phase is in.

the6ylal Updated 

It seems clear that the Coinbase BUSD Fud and the high amounts of BTC activity in the markets will bring a decrease, although we consider the increase in the stablecoin entering the spot markets. It is possible that when we break this rising trend, a reaction rise around $21,500 will be like a dead cat. Will the $18,500 journey begin, or will we perform a...

the6ylal Updated 

We can see an uptick in reaction from where we are now. We reached both the downtrend from the 69K level and the fib 0.618 level.

the6ylal

Although we seem to be among the rising channels in many analyzes, I would like to bring an alternative perspective to the situation. Considering that we are in a falling channel structure divided into layers, we can see that BTC has been priced in a thin range that has served as a very critical region as both support and resistance areas in the recent past. The...

the6ylal Updated 

While there is a negative dissonance in the price and relative strength index correlation in the weekly period, the price seems to show where it wants to go, although we can't break down the giant ascending channel layers yet.