According to the daily chart of Bitcoin, there was a sharp decline from 70000 to 49460. This decline touched the 377-day moving average and ended. Then we came to the Fibonacci 61.8 - 78.6 of the 70000 - 49000 decline. Now, whether we will continue to 70000 - 75000, slightly below the 78.6 resistance in this range for two days, or whether we will encounter a new selling wave towards 60000 - 54300 without exceeding 65640, since we have come to 78.6 of the 70000 - 49000 decline, is the decision that makes this. As a result, I will read staying above 60500 as relatively positive in technical discipline. However, since the 78.6 of the 70000 - 49000 drop passed through 65000 and since we had a contact there 3-4 days ago, there is no problem for those who are in the 49000 - 65000 exit until we see a closing above 65640, but new participants need to be controlled.
Because when 78.6 is passed, the price gets spoiled and it may possibly attempt a movement that can exceed 70000 if it passes 65640. Otherwise, we are in a region that needs to be read upwards in a controlled manner in the 65640 - 60600 band. As long as it remains above 60600, 65640 will continue to be the short-term target, while 70090 and 75600 will continue to be the medium-term target. short-term players trading upwards towards these 65000 - 70000 and 75000 targets should strongly follow the 60500 - 60600 level as support. Unless this is broken, the chart will remain in an upward trading discipline towards 65600 - 70000 again. If 60600 is broken, a correction will start at least up to 61.8. That corresponds to approximately 54300.
Therefore, if I were to explain it in terms of trading, above 60600 should be controlled upwards, but if 65640 is exceeded, the investor should question himself in terms of position appetite level and taking profit in that area. Above 60500 is relatively positive in the short term, 65640 - 70000 is the target. Whether 65640 is exceeded or not is a region to be followed in a very controlled manner for risk appetite and position sizes. 60600 is short term. If you think I thought about Bitcoin as an investor, 54300 - 50200 is also the support of investors. If 50200 is broken, those who say I was a Bitcoin investor will probably start attacking left and right.
Looking at the daily chart of Silver, the 31.74 - 26 correction, the 78.6th of its decline, an upward movement towards the falling trend you will draw from the last peaks with 30.60, an upward discipline above the moving averages continues. The trend, which departed from the approximately 26.5 - 27.5 region, seems to be targeting the 30.60 - 31 resistances. When it reaches 30.60 - 31, I think the whole story will break there. Okay or continue. In other words, when I say okay, do I go back from here, correct and go down again, stay in the trend or break the trend and enter the spoiled phase, we will decide on that. As a result, 30.60 - 31.06 is the short-term major target area for silver. The upward trading discipline towards 30.60 and 31 falls to default with a target of 27 - 26.5 below 28.88.
Ounce gold is dancing with Fibonacci in a pricing that is testing record levels in dollar terms. It has been above the 55 and 89-day moving averages for 2 months but also below Fibonacci, it says I am in the trend but I am not going spoiled, I am going sweetly. 2540 - 2418 is currently going up in a controlled manner within this band. If we are looking for a green long candle here, we need to see 2540 being passed so that we can see the green long candle extending towards 2620's and expanding. In other words, appetite and momentum expressions can be triggered. Otherwise, gold continues in controlled upward mode above the 2478 wide and 2418 supports with 2540 resistance.
If it falls below 2478 without exceeding 2540, a short-term correction may be triggered within the medium-term uptrend within the channel. It is beneficial to be controlled upward unless 2478 is broken. However, investors who will make new costs should take positions within the narrow band of 2478 and 2540 with extreme control and by really breathing the risks well. If you ask me how I read the gold chart, if I opened a short-term position, I would read the top of 2478 - 2470 up. I would withdraw short-term below 2470. But if the decline drops to 2418 - 2380, there would be trouble.
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.
