Bitcoin dominance is about to break the main uptrend. If this breaks, we will first see a short altcoin rise. Then Dominance will want to retest the broken uptrend. I expect a sharp drop in dominance after this retest. In this way, I think we will have a nice sub-party.
Of course, this scenario can only happen if this upward trend is broken and retested.
As I mentioned in the previous update, BTC received a reaction from the EQ zone level. However, a liquidation operation was carried out here. This manipulation was predictable.
As long as we remain above the EQ line, the price will push above $74K. However, spending a long time around the EQ line or staying below it will bring lower levels. I recommend you make your plans accordingly.
I wish everyone good luck.
LIVE
OnrGlsn
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BTC Update
As I said, unfortunately the price was rejected in the red box and started to go to the EQ region. First of all, if you have made money by following my analysis up to this point, congratulations.
If the price gets a reaction from the EQ zone, it will want to push above the $74k level. However, if it spends too much time around this level or closes below the EQ level, it indicates that lower levels will come. If it closes below EQ, I will re-update the levels it may drop for the chart. Also, if there is a rise from the EQ region today, I will consider taking an ETH long position due to ETF approval.
As I said, unfortunately the price was rejected in the red box and started to go to the EQ region. First of all, if you have made money by following my analysis up to this point, congratulations.
If the price gets a reaction from the EQ zone, it will want to push above the $74k level. However, if it spends too much time around this level or closes below the EQ level, it indicates that lower levels will come. If it closes below EQ, I will re-update the levels it may drop for the chart. Also, if there is a rise from the EQ region today, I will consider taking an ETH long position due to ETF approval.
I wish everyone good luck.$
LIVE
OnrGlsn
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The BTC target I shared at 7pm last night came in less than a day.
From now on, not getting harsh rejections from this region and staying around will easily take us to 85k. Minor corrections will not break the chart. In this process, if you are trading, it will be useful to follow it closely.
The BTC target I shared at 7pm last night came in less than a day.
From now on, not getting harsh rejections from this region and staying around will easily take us to 85k. Minor corrections will not break the chart. In this process, if you are trading, it will be useful to follow it closely.
Congratulations to everyone who evaluated.
I wish you good luck
LIVE
OnrGlsn
--
$BTC
Finally managed to achieve permanence on the EQ region. If there is no fud news etc., I expect an increase up to the box I mentioned on the chart.
Closes above the 72-74k region send the price to 85k. If it is rejected in the 72-74k region, the price may look for a new bottom.
It's only been 3 hours since I posted the analysis and BTC has already reached 70K. I continue to follow the chart. MACD made a new buy in 4-hour period. I think we will see 72K's. On this occasion, it would be great if altcoins could breathe a little.
If anyone evaluated the analysis, I congratulate you. I wish everyone good luck.
When we look at the current spot purchase data of the stock exchanges;
Almost all of them, especially Binance, are hard buyers. This data can be a nice confirmation data to fill in the chart I just shared. I follow the chart. With low leverage, I opened a small symbolic long on bitcoin at 67400.
I think there will be a final pump in altcoins for the upcoming period, we may see movement up to BTC 66-68k range. Because the rising trend of BTC dominance has been broken. This breakdown may give us an altparty, even if it is not an altseason.
BTC may go slightly horizontal after the 66-68k range and experience a deeper decline.
There is a very, very high amount of stablecoin inflows to derivative exchanges.
It is difficult to predict which direction they will trade. But the market will explode extremely hard in one direction. Someone may have received insider information and are making preparations in advance.
Note: When such high data comes in bull periods, these stablecoins are generally used for long transactions. I hope the same happens again.
I haven't been able to examine the market for a while. It was kind of good to stay away from the market.
Now, while I was examining the coins, I noticed a Reverse Head and Shoulder formation with a target of approximately $8 on the $SAGA chart, and I wanted to share it with you.
It would be risky to enter such formations before the neckline is broken. I share the chart below. Be sure to examine it yourself and take action accordingly.
I think there will be a last liquidity candle for $BTC and then this painful process will end.
I wish everyone pleasant trading and abundant profits.
Most likely, the halving will occur on 20.04.2024 between 03:00-05:00 Türkiye time.
For those who don't know, what is Halving?
In short, it means reducing the creation rate of new bitcoins by 50%. It occurs approximately every four years.
The halving reduces the supply of new bitcoins entering the market. If the demand remains constant or increases as the supply decreases, it is reflected as an increase in prices.
I cannot post frequently because I cannot follow the market closely. With the sharp decline in altcoins, I made spot purchases on Cex and Dex for a few altcoins.
Things I bought in CEX;
Pixel vra Tnsr Gmrx Sei
Things I bought in Dexes;
gecko Late Kimbo Frank Gone
I used approximately 50% of my cash when making the purchase. I transferred all of the cash I traded in futures to spot. I still have cash on hand to make purchases if the bottom is seen.
BTC looks a bit sour on the weekly chart. Will he return from here? Yes, it can return, but it can also drop to 55k. It can even pin 49k. That's why I keep cash waiting. If it does not fall and continues to move from here, I am thinking of investing my remaining cash in suitable places. So far, I have multiplied my 1.1k dollars to 50 by trading in futures. From here on, I only aim to grow my cash register more safely. For this reason, I will continue in spot until BTC makes the last peak. Don't listen to those making bear calls here. Even though BTC hasn't made the 5th wave on the weekly yet, I think we will see at least 140K.
BTC shorts closed, coin*ase and binance started buying.
They officially received war information as insiders. They shorted before the war issues and closed before Iran announced the end of the operation. It's an incredible thing. They have advance notice of everything.
Now they are collecting goods. I think the market will linger in this range for another week and go away.
You know what BTC did after the Covid collapse in 2020.
This time they are bringing about a collapse under the pretext of war. I don't think anything different will happen than the situation in 2020. I distribute my cash piece by piece to the spots. I have no transactions on the forward side. If the decline deepens, I will transfer all my cash to spot.