Hello, I want to share a general analysis of the market when my tongue returns.
The bulls, which were observed to be tired around $ 7440, took a rest and the market progressed in the "narrowing triangle" formation until midnight on April 10. In my drawings, after finding strength in fib (0.79) support, it closed the next candle for an hour as "bullish doji", but the price dropped down and broke the support. The fact that it is close to the support although it breaks the support is one of the important signs that show the "power of the bulls" in the market. The new support zone of the price, which broke down and broke the support at $ 7440, was around $ 6777. The price accelerated by $ 6777 as a result of 2-day accumulation "pinned" the peak trend of $ 7440, and this area is the "support" point of both the falling peak trend and the resistance channel of the $ 7440 resistance. The price tried to break this area for six hours but failed. As a result, the price decreased to $ 6593, which is my fib (0.7) region. This decline was very fast. We can also see that this decline is very fast and contrary to the general trend of the market in the bull appetite after the drop by zooming in the hourly candles. The bull run, which started from the night of April 13, is approaching the falling hills trend of $ 7440, and gives an image as a minor trend in the "rising bottoms". Appetizing and fast "bearish" corrections that are contrary to the general trend of the market; small and appetizing minor bullish trends. In order for the market to gain a bullish appearance in general terms, I can express an opinion that the "falling hills trend line" is closing the candle above and starts to accelerate upwards.
Thank you for reading.
The bulls, which were observed to be tired around $ 7440, took a rest and the market progressed in the "narrowing triangle" formation until midnight on April 10. In my drawings, after finding strength in fib (0.79) support, it closed the next candle for an hour as "bullish doji", but the price dropped down and broke the support. The fact that it is close to the support although it breaks the support is one of the important signs that show the "power of the bulls" in the market. The new support zone of the price, which broke down and broke the support at $ 7440, was around $ 6777. The price accelerated by $ 6777 as a result of 2-day accumulation "pinned" the peak trend of $ 7440, and this area is the "support" point of both the falling peak trend and the resistance channel of the $ 7440 resistance. The price tried to break this area for six hours but failed. As a result, the price decreased to $ 6593, which is my fib (0.7) region. This decline was very fast. We can also see that this decline is very fast and contrary to the general trend of the market in the bull appetite after the drop by zooming in the hourly candles. The bull run, which started from the night of April 13, is approaching the falling hills trend of $ 7440, and gives an image as a minor trend in the "rising bottoms". Appetizing and fast "bearish" corrections that are contrary to the general trend of the market; small and appetizing minor bullish trends. In order for the market to gain a bullish appearance in general terms, I can express an opinion that the "falling hills trend line" is closing the candle above and starts to accelerate upwards.
Thank you for reading.