CRYPTO MARKET SUMMARY ON FRIDAY: GAINS AND RESISTANCE LEVELS IN BTC AND ETH
On Friday, Bitcoin (BTC) and Ethereum (ETH) markets showed significant movements. BTC fell to $99,300 in the morning due to the resistance at $102,500, then recovered and tested the $100,000 level. It reached $101,500 with the opening of the US markets. BTC recorded a total increase of 3,200 points in intraday transactions. ETH, on the other hand, followed a similar course, gaining 140 points throughout the day.
On the daily charts, BTC made up for previous declines and closed positively. However, the resistance at $102,500 has not yet been broken, increasing the possibility of a pullback in the short term. Historical data shows that pullbacks occur after increases in the morning hours on Fridays. Therefore, it may make sense to open short positions in BTC in the $102,000-102,500 range and target the $100,000 level. Similarly, it would be a strategic approach to open short positions in ETH in the $3,940-3,970 range and target the $3,860 level.
With the market slowing down over the weekend, prices are expected to correct by fluctuating around $100,000. Therefore, investors are advised to open short positions at resistance levels and buy when the $100,000 level is approached. It is important to maintain self-discipline when managing positions.
Conclusion: BTC and ETH made significant gains on Friday, but critical resistance levels have not yet been breached. Since pullbacks are possible in the short term, investors are advised to take strategic positions and follow market movements closely.