When we look at the daily chart of ounce gold, there was a triangle squeeze as I mentioned last week. As the squeeze passed $2058, it gained momentum in a very strong tone, clearly above our classic 5 and 8-day moving averages. When you pay attention, you will see that Fibonacci 1.272 corresponds to $ 2194. The highest price of gold on Friday last week was 2195 dollars. Yes, we have reached these levels. It took a shot from 2195 dollars to 1.272 and now it is between 2195 and 2165. Now, this compression between 2000 and 2058 dollars per ounce of gold, the energy arising from the compression in this triangle, had already turned around 2058 in a momentum and performance curve. Now I will give two goals above again. I will place a trailing stop loss in the upward trading discipline towards those two targets. I will also write possible correction targets in case the trailing stop loss is broken. I will describe the directional decision as this. If the last movement continues to remain above 2146, 2195, which we saw last Friday, may be seen again.
The ounce of gold, which continues to remain above 2146, will continue its upward trading discipline towards 2195 and 2254, especially with the detail received yesterday, with the discipline of whether it will stay above 2146 or not. Let me put a warning here, especially when it comes to 2195 and/or 2254, especially when it comes to making new costs. Look, unless 2146 is broken, there will be no downward discipline. However, at those peaks above 2146, especially 1.618 gold ratio towards 2254, the investor should question himself whether he is making the wrong cost when making new costs. Because my personal opinion is that gold may want to test the numbers 2195 - 2254 above 2146, but it will receive correction from one of them. This is my personal opinion.
Since we saw 1195 once and now we are above 2146, upward trading still continues in terms of modeling and discipline. But if 2146 is broken before it exceeds 2195, we need to be a little cautious here. Then we can go back to a big pullback. Following 2146 pivot support, when the close is below 2146, the play direction towards 2080 - 2058 turns downward in the sense of a pullback and a deep correction. Unless 2146 is broken, 2195 was seen and 2254 remains the main target. As it approaches the 2254 level, I warn investors in a very clear tone to be cautious. Because the chart and the stochastic have moved in harmony at the tops and bottoms since the past. Currently, the stochastic is at the top and the upward discipline is currently intact, continuing above 2146. But if it reaches 2195 - 2254, we need to be very careful there. The lower indicator tells us to defend yourself with 2146 or a tracker of your own, and stay above in discipline. But he says, look, I left a trace for you from the past. Right now, according to that trace, he says, okay, the price is going up again, but don't be emotionally horny. Direction decisions cannot be made just by looking at the indicator. Be careful, the decision is made by appetite and perseverance.
Bitcoin is rising. When you look at the daily chart of Bitcoin, Bitcoin continues in the expanding triangle or megaphone formation since 33000. Expanding triangles do not move lower after making a third peak. Breaks the third top. He turns, gives his approval and goes up again. Bitcoin is currently the investment instrument with the highest transaction volume in the world. He progressed with a flawless technical figure. The megaphone story I've been telling for 3 months is over. Now the trend is upward. From now on, we will continue to manage the process with certain technical disciplines.
However, my statement that Bitcoin will go with the megaphone story for 3 months is over and proven for me. Conclusion 68300 is the intermediate support, 63900 is the main short-term support of bitcoin. Bitcoin may want to make retreats in its uptrend towards 68300 - 63900. This will not break the discipline of trading upside and/or trading the trend. Here, as long as investors stay above 63900 - 68300, bitcoin will focus on the targets of 76200 - 82670 and will not disrupt the uptrade mode in the trading discipline. There is no problem right now.
I give two warnings. One of them is Fibonacci 4.236 = 82670. Bitcoin will crown this bull trend, which it has been attempting since 20000, with a very important decision at 82670. Will it pass 82670 and continue towards the upper Fibonacci level, which will be a great selling opportunity? If Fibonacci 4.236 = 82670 is crossed, the price will be spoiled in the upward direction. People there will probably attack. They will destroy them all. They will have incurred terrible costs. 82670 and 76234 are like the target area of bitcoin's price trend, which continues to remain above 63900 - 68300. 76200 - 82670. I am making two caveats.
We will pay attention to 82670. OK or continue? We will make an important decision there. Here, the investor will make a decision according to his risk understanding, position size and his own preferences. Should I continue or persevere? Let's play the upper part of 68000 - 63000 relatively positively, towards 76230 - 82670. Let's pay attention to the 82670s. There is no fear limit, there is no fear analysis, but if 63000 is broken rather than 68000, look, as long as it is not broken, there is no problem, let's continue to absorb as much performance as we can and as much money as we can. But if 63000 breaks, the megaphone will end badly. Let me tell you.
The information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are provided within the framework of the investment consultancy agreement to be signed between brokerage firms, portfolio management companies, banks that do not accept deposits and customers. The comments in this article are only my personal comments and these comments may not be appropriate for your financial situation and risk return. For this reason, investments should not be made based on the information and comments in my articles.
