My Thoughts on Current Markets-214

By Perfectionist25 | Tech. Analysis | 20 Nov 2024


There is quite a hold on Bitcoin. In other words, we see that there is a price above $ 89,000, and it seems like 100,000 is seriously knocking on the door. 100,000 continues to create a magnet from above. Here, a very strong upward movement came above the 89,000 - 90,000 region with Trump's victory. We see that the daily chart started to lean to the right. We see that the 8-day moving average continues to carry the price like a porter this week. Therefore, as long as it stays above the 83,000 - 84,000 region, 92,600 will continue to be the intermediate, 104,192 process target. Now, we have reached a region above 92,600, such as 93,000 - 93,200. However, there is no closing above 92,600 yet. We continue to push it upward. There is a positive picture in the chart. It has its own risks, but there is something positive. Is the pole turning into a flag or a pennant? I'm not saying it's a pennant right now, we'll follow it, we'll see, it has a tendency to turn into such an image.

If there is a close below 90,000 here, since the moving average discipline that carries the movement will be disrupted, a correction may come to 83,000 - 84,000 in the short term and perhaps to 75,000 after that. If you ask how you would trade, I would prefer to manage the 83,100 level as a support rather than 90,000 in this chart, as a trailing or breakdown condition for staying in the upward game or triggering a correction. Therefore, if Bitcoin closes below 90,000, the risk of 83,000 and then 75,800 may be triggered in the short term. As long as it stays above 90,000 and 83,000, 92,600 was tested once. It is currently drifting towards there. Therefore, 83100 will be the short-term main support, 90200 will be the short-term intermediate support, and 92600 is waiting to be tested again. The target of 104192 and the target of 2.618 Fibonacci continue to remain on the radar.

Here, I will advise investors in a very strong tone only in terms of discipline. Let them say that there is a slight correction coming below 90000. I can also say that the trend is over in Bitcoin below 83000. Unless 83000 is broken, 104000 will want to pull Bitcoin up like a magnet. Those who are inside should make a defensive move under 90000 but strongly under 83100. My advice to those who say I want to evaluate is this: if you are going to open a position from here, I would say follow it if you can accept the fact that you are making a cost at the wrong time under 83000, even in the wide 90000.

When silver approached $35, which is Fibonacci 1.618, I said that it might be difficult to make a cost from here. A complex structure was formed, it started to rise again without breaking below 29.80. As a result, just as I say that silver is technically expensive at $35, all pullbacks that may occur towards the 28.5 - 29.80 region can be followed as a reasonable and eroded balance and support area according to the technique that says 35 is expensive. The movement that takes off from 29.80 will maintain the discipline of staying upwards towards 32.10 and then 33.20 in the short term. If we are trying an uptrade discipline towards 32.10 - 33.20, we need to be a little cautious at the closing below 29.80, where the 28.5 support may come into play. Therefore, I read this chart as a good opportunity for all pullbacks towards 29.80 - 28.5. I wouldn't say it won't fall to 29.80 again without going to 32 and 33.20. Risk management is in my pocket, but even if it falls, I expect the short-term targets of 32.10 - 33.20 and 35 to continue in the next leg of this step. We fell from 35 to 29.80, if you ask me if I expect this movement to go to 35 at once, I wouldn't. I expect the movement that started from 29.80 to go to 32.20 and come back, to go to 33.20 and come back, making a trend for itself, and to go to 33.20 by fluctuating. Although I am disciplining here as a long trade, I will not give up on the short-term targets of 32.10 - 33.20 unless the 29.80 - 28.50 region is broken.

The ounce of gold fell, it is falling, just as I was saying it will fall, it has been showing signs of strengthening for the last two days. When it was at 2790, I said let's pay attention here, it became a peak. I said I would expect this decline to find balance and support at 2530-2570, I would expect it to turn upwards from this area, I was wrong by 5 dollars, I apologize, it jumped from 2535 dollars to 2620 dollars. Now, as long as this movement continues to stay above the 2570-2530 area, it will maintain its discipline of staying upwards towards 2686-2716 in the short term. If you ask me if I expect 2790 to be passed quickly here, let me state that it will be passed immediately in the short term, and even reaching there will be a bit difficult. But I know that it will be passed in the medium term. Therefore, my discipline for reading this daily chart is as follows; 2570 - 2530 especially all pullbacks towards 2530 will continue to be the support and balance zone for 2686 - 2716 short term and 2820 medium term targets. Here we just need to pay attention to this. If we are trading a reaction from the 2720 - 2730 region, if we are making a long direction transaction, let's keep the possibility of a bear - bull war in the 2686 - 2716 region on the radar.

In other words, it would not be correct in my technical jargon to expect the movement starting from 2500 to go to 2790 - 2820 without lingering in the 2686 - 2716 region. The movement starting from 2530 in the 2686 - 2716 region could be a bear - bull war there. Therefore, an investor who makes a cost at 2570 - 2530 can review position appetite management, profit realization, and holding there depending on whether 2686 - 2716 can be passed or not. I made the 2790 warning, then the 8-day moving average broke with a strong momentum. The bullish figure in the director indicator, which is the lower indicator, cut the green red down. A perfect harmony in terms of time. Therefore, it is still red above, green below, a discipline that says we will not return to 2530 again until 2686 - 2716 is passed is not very correct. However, as long as it stays above 2530 in trading modding, I will read this chart with a target of 2686 - 2716. If you ask whether it will go down to 2570 - 2530 again without going here, I will not say it will not go down. If it goes down, if I do not have a cost, I will read it as a cost, I can read it in terms of being costed.

Nasdaq is in a slightly better position compared to S&P recently. Because it maintains trend discipline in general terms with its 21-week moving average. The S&P chart saw the Fibonacci 1.618 6000 level. It saw it the previous week and started a bit of a correction from there. But Nasdaq has not reached Fibonacci 1.618 yet, it has not reached 20000. As it approaches 20000, it starts to weaken and lose power. If I have a position on the Nasdaq weekly chart, I do not add in the 17877 - 20000 band. If I play in the trend below 17877, I make a profit stop assuming that a correction is coming towards 16600. Because every price returns to its trend one day whether you like it or not, whether you want it or not. Then Nasdaq will reach here one way or another, whether we like it or not, whether we are long or short. It can pass 19000 and go to 20500 - 22000 and reach from here. That's why I use those who follow the trail in technical analysis. You can't make money by waiting for the day it will reach here and being afraid. What to do here is this; If I have a position as long as it stays above 17800, I will not add to the 17800 - 20000 band and I will be in a controlled hold position.

If I see a closing below 17877, I will say give me these profits, I'm going home. If it comes to 16600, I will go back to the playing field from home. At 17800, I will say give me back what I gave you, I will take back my property. A correction targeting 16600 may start below 17877. This requires a defense against this short-term correction. Unless 17877 is broken, Nasdaq will move upwards towards the 20000 target in a controlled manner. Because as Fibonacci goes to 1.618, there may be bear attacks above. A skid is starting, there may be a serious war or hesitation in this region. If you also ask me to explain the medium term, the comment is very clear and I explained the very short trading side. Now I am explaining strategically. All pullbacks in the Nasdaq 16600 region will be a buying opportunity for the 20500 - 22500 targets. We managed our trading mode with 17877, defense against correction, I read pullbacks as buying opportunities unless 16600 is broken. I will continue to focus on the 20500 - 22500 targets. When it reaches 16600, you put a stop somewhere like 16100 - 16300 when it makes a cost and you keep your risk under control.

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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