Technical analysis by efafinans about Symbol BTC on 11/9/2024

BTC | Update | 1D | Important Analysis✨In my update on September 23, I stated that I expected an increase for BTC, but that I expected an intermediate liquidity cleaning towards the $60k level before the increase. Then #bitcoin dropped the needle to the $59,000 level and increased to the $69.7k level. Later, I shared on our channels that I expected 65k, 70k and new ATH respectively. As of now, with the conclusion of the election, BTC reached a new peak of $76k. BTC Dominance, on the other hand, touched the 60.68% level and then decreased to 59%. This shows that the gold took action after the new ATH. Especially ETH reaching the $3000 level was an important factor in the withdrawal of dominance. The rise of the crypto market despite the rise of the dollar index is an important event. Here, we can clearly see that there is a flow of money into the crypto market and that the rise is not artificial. For the first time in a long time, the crypto market is rising together. The total market value of cryptocurrencies has reached $2.55 trillion. #bitcoin alone has $1.50 trillion of this. #ethereum is in second place with $370 billion. The remaining cryptocurrencies have a market value of $673 billion. I had previously told you my 2025 market value target. If we continue at this pace, we will reach this target in a much shorter time. So what awaits us? Important Levels and Our Expectations... As I always tell you, the market buys expectations and sells when they come true! Previously, markets had priced Trump's victory by 60-70%. However, since this victory was a very important event for the markets, there was no reaction sale, on the contrary, BTC increased by 13% and renewed its peak at 76.8k. As I stated in my long-term analysis, my main expectation is $110,000 and $121,000 levels, but this rise will not be a breathless rise! With the start of the correction movement, I expect a pullback to the 67k-65.3k levels. Since the market is not yet fully settled, it is difficult to predict the starting point of this movement. It would be healthier to follow with the approval of Alt time frames. Remember, EFA is the heart of the market :) I recommend that you do not jump from branch to branch at the bottom. The products you are in will definitely rise. Do not be discouraged by saying that others are coming out and the one I bought is stagnating. In addition, in addition to the long/medium term basket, you should definitely buy scalp transactions with some capital, which can increase your profit margin. I wish everyone a lot of profit. I will share the projects I like the most with you in the following posts...