Good day, let's look at the #Bitcoin situation according to the 3-day charts dated September 3, 2024.
We shared according to the one-day charts in the morning. I said I would share the 3-day charts if there was an opportunity. As a result of the analysis, $BTC can retreat to 56,890 with a weight of 93.70%. Again, with the same weight, it has the potential to go up to 60,120. The closing price also looks like 58,890. With a lower weight, i.e. 6.3%, when Bitcoin goes up, it can go up to 62,880. Of course, if this possibility happens, it is expected to be around 62,530 at the close. High probabilities usually hold, but let's keep the low probability part aside. The previous 3-day charts were realized at a rate of 98.85%. Now let's look at the technical indicators and see what they say.
RSI: According to the 3-day charts, sellers seem to be in balance. There is no such big rise or fall.
CCI: It indicates that the selling pressure has decreased. In other words, the power of sellers seems to decrease and buyers are more willing to buy.
MFI: Buyers and sellers seem to be in balance. Although the market is indecisive, it is giving recovery signals according to this indicator.
ROC: This indicator also confirms that prices have fallen. However, it also indicates that there is no such thing to be afraid of. It is more like buyers are being cautious.
RVI: This indicator says that there is a medium volatility environment in the market. It also signals a slightly risky environment. It is possible to make profits from this volatility.
These comments are valid until the closing of the 3-day charts. What I share is not investment advice. Do not forget to make your own risk assessment. I wish you a good day.