Opportunities from the Perspective of Technical Analysis

Recently, the activity in the cryptocurrency market has attracted the attention of investors. In this article, we aim to provide guiding tips to investors by making an evaluation through the technical analysis of the market.

Have Cake Slices Ended?

Let's imagine the#Bitcoinmarket as a "pie". Daily slices of this cake are near the end of its triangular structure. As the rate of fluctuation decreases, signals of change also appear. With the volatility remaining ineffective over the weekend, the pie moved within the 1-2% range throughout the day.

Bulls or Bears?

At this stage, we can say that the bullish strength is decreasing. Investors who mobilized at night are having difficulty overcoming the resistance level of $68500-69000. If it falls below the $67000 support level at daily closings, the pie may turn into a bear market again.

Pay Attention to Support Levels!

Another point to note is the triangle base near $65500. If this support breaks, the next stops will be the strong support levels near $63500 and $62500.

Altcoin Opportunities?

The decline in Ether is more pronounced compared to Bitcoin. However, signals of the market hitting the bottom are also observed. This strengthens the expectation that Ether will begin to follow an independent course. The correction period, which started at $ 7376, exceeded 20 days. From both a technical form and correction cycle perspective, the end of consolidation may be nearing.

Is it a dip buying opportunity?

Many strong#altcoinshave been oversold and are in the process of bottoming. The next few days may be a critical period for investors to invest in the "spot" market. After the pie becomes stable, investments can be made in "strong" altcoins to wait for the boom period.

Not Investment Advice!

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