I had clearly stated that the 2760 - 2790 area would not be correct for making new costs in ounce gold. I had also explained the possibility of deepening correction below the 2720 - 2700 area. We are in a medium and long term uptrend. However, 2760 - 2790 was expensive for the short term. My personal opinion is that the downward movement in the ounce of gold starting from 2790 will start to seek balance and support in the 2585 - 2533 area. I expect this. The price is currently in the 2595 - 2600 area. No matter how much I believed in technical and Fibonacci at 2790 and said that it is not correct to make new costs from here, the short-term correction risk in the ounce of gold will not create a confirmed and safe signal unless 2676 is passed, if it is passed, the correction will end anyway. The ounce of gold will probably return to its movement of exceeding 2720 - 2790. But until we see a second day's closing above 2676, we cannot say that the downward movement that started at 2790 is over. However, the important and critical erosion has also approached the balance zone. In this sense, although I have explained how expensive the price at 2790 is, I am not saying that it will fall to 2585 - 2533, but I am saying that it should not be ignored as a risk. I think that the ounce of gold in the 2585 - 2533 region will enter a horizontal movement that will find short-term balance and support in the downward movement it has experienced since the 2790s. If there is a second day's closing above 2676, we will return to an upward trend, that is, an upward momentum. The 2585 - 2533 risk may continue unless 2676 is passed. I think that the 2585 and 2533 region is a eroded and reasonable region.
The ounce of silver started to decline from 34.80 - 34.90. Therefore, the decline that has occurred since $35 became clear when it broke $32-33. In this sense, I expect silver to make the base between $30 and / or the maximum risk of 28.48, which it started at $35, and then to sweetly return to 32.5 after stalling for a while. The $35 tag will keep the possibility of the 30 and 28.48 pressure continuing in the pocket. However, I personally expect the $30 and / or 28.48 region to be an important balance and support region for a technically eroded and upward return. Therefore, 31.70 has not been passed in silver, the struggle between 31.70 and 28.48 may continue. In this sense, 31.70 can be followed as the triggering discipline of the upward game discipline in silver.
It was waited for a long time in Bitcoin, then the Trump Rally happened. When 68000 - 69000 is passed, the investor has learned what happens by experiencing it once again in terms of momentum. The equivalent of Fibonacci 1.618 is 83100. I had stated that if it passes 68900, there will be 83118 and 102 - 104 movements. Now 100000s are coming up and down. As a result, when I look at the daily chart, 83118 passed Fibonacci 1.618. When Fibonacci passes 1.618, the price gets spoiled, that is, it expands upwards. Now, sometimes it is bad to count support in declines, and looking for resistance when going up may not be very right in such atmospheres and such momentum movements. What to do here is either to stay in the trend or to put a stop at a certain point and take the profit in order not to give your profit back to the market under that stop. Here, the investor will make his own choice. As a result, being above 1.618, above 83100s continues to feed the upward trend and trading discipline at the moment. I have two numbers above. One is 92691, the second is 104192. Correction starts in 2 hours or daily closing below 83114. As long as it stays above 83100, 92691 and 104192 are potential targets in the short. However, investors should not forget this. While prices are going up very seriously in the spoiled phase, it can end suddenly and all of a sudden.
Therefore, here, as long as it stays above 83114 in current positions, uptrade continues towards 92691 - 104000s. However, if it comes below 83114 without reaching 62961 and/or 104000 and starts to scratch here, if they confirm it in the daily close along with the hourly closes, the spoiled phase turns into a correction phase. This should be paid close attention to, in short, I would be disturbed by a close below 83100. As long as it stays above 83100 in this chart, I read this chart upwards towards 92691 - 104000. If you are in a very serious profit and have traded for a short-term return, if 92691, especially as it approaches 104000, goes to 104000 without any correction, I will not carry this chart, I will trade. Below 83114, a correction process towards 78000 - 67000 begins in Bitcoin. It may not happen immediately, but the process begins by filtering. Therefore, 83114 and/or maximum 78700 should be followed as the trailing points of this movement. If this area is broken, the short-term uptrend in bitcoin may probably end.
If we look at the weekly chart in Ethereum, there is a narrowing and compressing region of the 4800 - 990 decline. We have seen that it has made a base above its 89-week moving average for the last 2 - 3 months. It is going to complete its inner, short bowl. In this sense, what I will say about Ethereum is this; in the short, 3830 is quite important, the resistance coming from the falling trend line is 4041 and 4428 is the Fibonacci 78.6 critical region. Therefore, if you ask how to read this chart, I think 3830 is important for the continuation of the upward movement. If Ethereum goes to 3830 and closes more than once above it, this movement will probably enter a spoiled phase that can reach 4428 - 5900. Bitcoin has entered a spoiled phase, above 83000, but controlled, Ethereum has not entered a spoiled phase yet. So this is already coming from behind, except for some altcoins, except for the coins that Elon Musk is interested in, some of them are still holding the saddle of the horse to such an extent. Ethereum has not yet escaped from its triangle, but some coins are going smoothly.
The important thing here is will Ethereum give two closings above 3830? If it does, this chart may trigger a spoiling phase towards 4428 - 5900. If you ask me how to manage this chart, if it is a short-term position, I will approach 3830 - 4000 and if it cannot pass, I will withdraw some money. But if it passes 4000, I will still participate. Managing this is difficult but very comfortable. When you sell something, if it does not fall from there and goes up, buying it makes investors say why did I sell it, I wish I hadn't sold it, but when it cannot pass there and falls, they say it's a good thing I didn't sell it. In other words, there is no middle ground. The important thing here is to stick to a plan, to be in a discipline.
Therefore, as long as this chart remains above the 2420 - 2690 support zone, it will keep the 3830 - 4040 zone on its short-term target radar. If it gets a second close above 3830 and 4000, this chart may probably start to spoil towards its historical peak of 4800 and above. If you ask me whether I expect this chart to exceed 3830 at once, I am not so sure. If you ask me whether I prefer Ethereum or Bitcoin, I would look at the chart and prefer Ethereum. Because I don't buy what is gone, I buy what is gone. Even if there is a possibility of it coming back, the bottom is bought. As long as the money remains in the market and does not go into your pocket, it is not yours.
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.
