With the expectations of the decree coming from the USA and the meeting news of the Foreign Ministers of Turkey - Russia - Ukraine, Bitcoin, which found support from the critical 37500 level, showed a sharp rise by more than 10% above the 42500 level. Faced with sellers in the 41900 - 42700 Band, which is both technically and psychologically important, BTC was exposed to harsh selling pressure as gold and oil prices turned upwards again. Including the sharp fall in May 2021, it has been stuck at the level of 37500 in every downward movement and band movement for about 1 year. In the event that btc, which decreased in the Asian session, continues its sluggish course, the 37500 support continues to be up-to-date. This level, which has a high level of psychological importance in the market, also coincides with the 89-week exponential moving average, and since January, an average of $5,000 increase started at and around this level. We would like to remind you that buyers can enter the market as we approach the 37500 main support level in possible retracements in the crypto money, which is currently maintaining its calm course with an average of 39200. In order to start the search for a new bottom in BTC, the main support level of 37500 must be broken and a weekly close must be made below. In such a case, 34500 levels can be started to talk in the market. However, if the 39200 - 37500 band creates support in the market, the buyers can step in again and a reactive rise may occur in the range of 800-1200 USD on average. The 40500 technical level should be followed carefully in order for the ups to gain momentum again. Session closings above this level can only gain momentum and 41900 42700 resistances may come to the fore.

Support: 38400 – 37500 – 36900

Resistance: 40500 – 41900 – 42700

2022-03-10 13:49:50

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