Hello. We are in the days when, after a long period of decline, we throw ourselves above the trend lines again. We are in the days when technical analysis is not working strongly on the BTC side and we are progressing based on fundamental analysis. On the Bitcoin side, we are waiting for spot ETF approvals. At this stage, although technical analysis depends on the news flow, we can say that a good technical outlook is on the Bitcoin side. We can say that an upward channel break has occurred in Bitcoin. The target of the channel is in the 48-49K bands. Downward channel support is at 44729 levels. I think we can run an R test here. There is also a contracting triangle formation, but I do not follow this formation, because in some places the resistance and support alignments are far outside the trend. If the channel target is realized, we can enter the channel formed by the trend coming from below and talk about the 51-52K targets from there.
As of today, I have created my road map based on spot ETF approval. While I was 100% in cash, I made a purchase as of today and placed a stop 10 percent below my purchase position. My cash situation is at 40%. I make sure to keep cash in my safe just in case. If the declines are due to dominance, I will remove my stops. If it is caused by Bitcoin, I will stop the declines. There are always possibilities of 32-37-38K, please be cautious and stop while trading.
I wish a good evening to everyone, what I say definitely does not contain investment advice.
