Technical analysis by otantikripto about Symbol BTC on 5/9/2023

We have come to the days when daily closings are individually important. There is no such situation as in the chart right now, but closings below $31,000 may turn the picture to this. In fact, we can add around $28600 to this in the short term, but #bitcoin must exceed $31,000 to be sure of an increase. At the same time, these levels must be exceeded on the weekly chart for an increase expectation. If sales are heavy in this process, the price may first decline to around $25,000 (MA200 at $25,000 levels). We entered an uptrend with the reaction we received from around $15,000. It seems as if the market needs to test the trend again and take this level as support. When we check the price orders, we can see that there are buyers first around $25,000 and then in the $21,500-22,000 band. In the coming days, a possible FUD and/or negative news that will affect our market may cause 25K to lose its support and a pullback to around $21,500 $22,000 may occur. At this point, point D may be a turning point for us. In this context, when we come to the formation on the chart; we cannot talk about a 5-0 Pattern structure here for now, but I will follow its formation. If the basic and technical conditions I mentioned above occur, the price may fall to point D of the pattern. I will not explain the pattern in detail, but Scott Corney interprets this pattern as the last correction before the big rise. In technical terms, there is a lot of data that supports this data ''for now''. However, of course, we need to see a return from point D to take action.