Sirwin
Sirwin

My Thoughts on Current Markets-110

By Biologist25 | Tech. Analysis | 16 Apr 2024


The risk of Iran-Israel war has been triggered. Although it is not as much as feared right now. At the moment, it seems that at least Israel's reflex is expected. Gold's ounce chart is a daily chart, and when the 2146 - 2000 squeeze and Fibonacci 78.6 passed 2080 - 2100, it became a spoiling phase. Fibonacci corresponds to 2427, which is 2.618. Fibonacci put a pin at 2,618 on Friday. After that, it puts a slight pressure towards the moving averages. The 2320 - 2254 region, which we generally look at, can be followed as a support for the upward movement in the ounce of gold, upward trade discipline, the continuation of long positions and as a tracking stop loss zone in itself. Although the ounce of gold, which continues to remain above 2254 and 2327, will of course continue to contain the Israel-Iran tension, the ounce, which continues to remain above 2254 - 2320, is in the 2427 and 2600 region, which is Fibonacci 2.618, which it tested 3 days ago. Specifically, it will continue to keep it on the radar and make it a target again. 2427 - 2600 above 2320 - 2254 now maintains its target potential.

However, towards 2600 - 2700, if the ounce goes to 2600 - 2707 without correction, that is, without breaking 2320 - 2254 and filling and unloading, it may be right for investors to question their short-term positions at the point of making some new costs there or persevering in upward positions. Because there it will have reached a very serious Fibonacci target zone. Note that what I have stated is valid for the short term. So, I'm not saying that it won't be above 2600 - 2700 in the long term. However, if 2427 is passed before 2320 - 2254 is broken, and we go to 2600 - 2700, the spoiled pricing there is not going to go away by investors, we need to be a little more cautious. Care should be taken when making new costs. In fact, I am not giving it as a recommendation as to whether I should persevere in that region, perhaps in such a small way, of course the positions there should be questioned. Below 2320 - 2254, the ounce of gold ends its short-term trend and I clearly state that it starts a correction towards the 2000s. However, a correction started towards the 2000s, the discipline of gold's ounce started to rise is not there now. It is triggered if these numbers are broken. I underline this in red for financial literacy.

Without breaking the range I mentioned with the news coming from regional tension, it may make an upward peak and start an attack with the news that comes out of nowhere. Here's what the investor will do: It must have certain disciplines within itself, such as redline at certain points, that is, if you are on the upside, as long as you stay above 2254, if you are optimistic, play the ounce up. There is also a character like this in Altın. When he's been gone for 5-6 years, he flies away. Then, after making the correction, it tilts itself to the right side for a long time and creates a serious time cost. Investors will make plans a and b to avoid such a time cost.

The sudden decline should not be considered specifically for bitcoin. All capital markets, all investment instruments are like this. When the trend is going up, they throw money away and then take it from your pocket in one fell swoop. Either you will be a long-term investor, you will not be interested in the price, so you will ignore technical analysis, or you will be a trader, you will see technical analysis ahead and know how to persevere at certain levels or be in the discipline of stop loss when certain points are broken. Whatever you buy in the world, you run the risk of going bankrupt. If you cannot buy and sell at the right time, or if you do not know the market or have no experience, gold, the oldest instrument in the world, will sink you if you stay in the opposite direction.

Bitcoin made a weekly chart trough, a double top. If this is a correction in bitcoin, it should not break 57500 if it is going to go up again. If it doesn't break, this move goes to 74000. Unless 57500 is broken, it can be read as relatively optimistic. But to be optimistic, I think the 57500 - 71000 band is a region that should be read with extreme control. In other words, this region is not a region that can be read with either an enthusiastic bear impulse or an enthusiastic bull impulse. You need to be very controlled here. You should not make transactions with spoiled, shameless emotions. If 57500 is not broken, we may see a reaction attack towards 69000 - 71000. The important thing here is that if 57500 is working, we will consider the movements up to 69000 - 71000 as a reaction. If 71000 is passed, it can be interpreted as a slightly safer upward movement towards 75500 - 83500. I read the 57500 - 71000 band as a flat region. So I read it as a controlled zone. Above 71000, up trading discipline with a target of 75000 - 83500 may be triggered. Below 57500, the short-term bitcoin trend will probably end. The decline deepens towards 43000.

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.

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Tech. Analysis
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