When looking at the weekly chart in Bitcoin, for those who have a position in the 92600 - 104000 region, maybe continue, but for me, it is a spoiled region to make new costs. In other words, making costs in spoiled regions can be risky. Now, without showing 100000, that is, without reaching the 102000 target in Fibonacci 1.618, with a very slight difference of $ 2500 or so, technical people see it as having reached it more or less, but let's put the expression that it has not reached it mathematically and in terms of trading discipline. Therefore, there is a spoiling. When the price moves away from the moving averages, pressure begins to form, as it has for the last two days. It had also seriously spoiled from 37000 to 62000. Then it pulled it horizontally to the right. Therefore, what I will state for Bitcoin is; The 102000 - 83500 band can work zig-zag. The important thing here is not to be too bullish on this chart below 83500. That is the critical threshold. Of course, if it enters this channel again after completing a target price due to both completing the impulse target with a slight difference and the completion of the horizontal Fibonacci 1.618, we say the following here; Medium and long-term rise may come again one more round, but in the short term, perhaps the major 50000 - 98000 parabolic trend is over.
The 84500 - 83500 region is an important support region for investors who persistently remain in an upward discipline in their positions despite the 2 - 3-day relaxation. Let's remember what is here first. First, 1.272 Fibonacci, second, 61.8 of the impulse, third, rising resistance. An important region consisting of 3 items. If it breaks, the ship will take water from there. Unless 84500 is broken, this place may want to connect the 83000 - 84500 and 102000 - 106000 bands to a horizontal zigzag here for a while, I don't know. Let's put aside the risk that those who have a position here may experience a hard hit of $10,000 towards 74,400 in Bitcoin under 83,000 - 84,500. I would say that the movement from 50,000 to 98,000 in the 4-hour and daily closing under 83,500 - 84,500 returned to 74,000 without exploding confetti. I did not expect Bitcoin to exceed 104,600 last week without any correction. That correction is happening right now. If you ask me if I expect it to return after this correction and break out and pass 102,000 - 106,000 in an additional time, I do not expect that either. In other words, it needs to digest this expectation it has received, Trump here for a while. As long as it stays above 83,500 - 84,500, we cannot say that the major trend, the parabolic trend in Bitcoin has been broken. However, there is something I know very clearly. When I put this chart in front of me, it gives me a very clear message. Reading long under this chart 83500 - 84500 is a great technical indiscipline.
When we look at the ounce of gold, we see that the war between Israel and Lebanon, namely Hezbollah, is now ending, and today the ceasefire is expected to be approved in Israel. With the news from 2721, they brought the $100 drop to 2621 with a deep bar in a single day. Therefore, it is important because gold is a commodity that feeds on blood, chaos and crisis. Now we see a perfect Fibonacci labeling in the ounce gold daily chart. I had stated that it was wrong to make gold cost around 2790. I had stated in the past weeks that I was expecting the decline from 2790 to balance and find support in the 2530 - 2570 region. I was wrong by 5 dollars, it found a bottom at 2535 and rose. It came all the way to the Fibonacci channel. When Fibonacci 2720 came, did Netanyahu come to the point of accepting the ceasefire?
These are all mathematical coincidences. These are the story of the golden ratio that surrounds the world. After all, this graph is my opinion, the region of 2530 - 2500 with the peak of 2790, the product you earned for 1.5 years has turned back and forth between 2790 and 2500. 2790 is not easily passed in the short term. It is not easily broken at 2500 - 2530. This graph lies like this. Therefore, if you ask how to read this graph as a discipline, if the decline continues towards 2580 - 2530 without passing 2667, there may be a double bottom rise from 2500 - 2530. There may be a rise from 2580 - 2530 towards 2660 - 2720. 2580 intermediate support, 2530 main support, as long as it continues to stay above 2530, after rebalancing this harsh, rough red candle it took on Monday in the 2580 - 2530 region, after making a double bottom, we can see a movement in gold's ounce towards 2660 - 2720. But if you ask me if I expect a new trend in gold's ounce from here towards 2823 - 2948, I don't expect it in a few weeks. Maybe it won't happen in a month either.
If you are trying to go long above 2530, you should definitely put a stop below 2530. Because both the double bottom dynamics will be disrupted and the lower Fibonacci will explode, and downside risk will begin. Another $100 bear attack may come in gold's ounce, reaching 2470 - 2423. We can manage this graph in two ways; When 2580 comes to 2530, we can create an opportunity from the decline by having the discipline of placing a stop below 2530, or there was a huge movement here, there is no trend right now, instead of buying when it falls, I can try to join if it passes 2660, which will be important in terms of following the trend and riding the trend.
If ounce gold gets a beating, silver will also get a beating towards 2580 - 2530. But silver may get a little beating. The rising trend carries ounce silver on its back like a porter. As a result, if the 29.80 - 28.48 region will continue to be crushed without silver going up, in my personal opinion, if balances such as leverage, debt, etc. are adjusted correctly and this also includes a carrying cost, time cost, because if you buy a product because it is cheap if it falls to 29.5 - 28.5, but while managing your carrying cost time, this can pressure you emotionally. It can make you say, I bought it and it doesn't go away. As a result, according to the technical analysis that says that all pullbacks towards the 29.80 - 28.5 region are technically expensive at 35.5, I personally read the 29.80 - 28.5 region as technically reasonable and as a cost region. I don't know if it will fall to 29.80 - 28.5. However, even if it falls to this area, the silver chart that continues to stay above this area will tilt the chart a little more to the right. The chart will be stuck between 29.80 - 32, then pass 32 and go to 33 and 35. Buy as it reaches 29.80 - 28.5, sell at 32 or ride the trend towards 32 - 35.
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.
