Technical analysis by efafinans about Symbol BTC on 3/17/2024

When I stated that I expected a decline on August 24, #BTC had fallen from $64,000 to $52,000. On September 10, I stated that I had made a purchase and said that I expected an increase towards the levels of 65k-70k, and as of now #bitcoin has increased by 21% and touched the level of $64,000. Details are in the chart. So what will happen next? When we look at the weekly, there is a positive outlook. As I said before, there should be a solid break above 65k for the rise to continue. When we hold on above 65k, I will expect 70k and then a new ATH attempt. Although there is a positive atmosphere in the weekly, it is seen that we are struggling in the daily chart. A correction movement to the 59k-60k band seems more likely from here. A rapid break above 65k should occur for the current structure to be disrupted. If the sale I expect comes, I will get involved again. When we look at the On-Chain side, we see that there is serious liquidity accumulated at the 62.2k level. I don't think it will come out without cleaning it. In short, 65k is an important resistance area for us. If it is not exceeded, it is likely to take profit. On the downside, 59k-60k levels are the areas we are waiting for to buy. This analysis is my own personal notes. Please do your own research before investing. Good Luck to Everyone! - EserCurrent Price: $63,959 Note: This is a continuation of the previous analysis! I would like to add a few more sentences. I had previously said that August was difficult and that I was positive about September. With the Carry Trade crisis in Japan in August, we saw decreases of 27% and then 19%. The decrease continued in the first week of September, then there was a 24% increase. The markets turned upwards with the FED Interest Rate decision. There is definitely a reason behind every analysis of mine, I rarely give a date. The reason I looked positively at September was the FED interest rate decision. After a 4.5 year hiatus, the FED has cut interest rates. Now I want to talk about October. As you know, the US presidential elections will be held in November. Remember, markets always move according to expectations. If Trump is elected, the crypto market will experience a serious rise, but if Kamala wins, it is possible to say the opposite. The bickering between the two will continue in October. I think we will enter a saw mode in October, as we did in August. Especially the 65k level is an important region for us. Unless we exceed it, profit sales will continue to be possible.