I mentioned that Bitcoin will enter a negative path after breaking the 28,200 resistance that we have been following in the past weeks, and unfortunately it has been progressing for a while.
On the Bitcoin/USD side, unfortunately, we can see that there is a negativity at a glance in this way. Breaking the trend support, losing Chikou and turning kumo into resistance… I think that the only support we can see on this chart right now is tenkan (dotted blue line) and if it is lost, it will target supports 24-20k respectively.
Negativeness is also seen in the daily Bitcoin chart. Chikou is lost, lost to the sand. There is no positivity here either, unfortunately, but if there is a sudden rise, 27.9 will work as resistance, this is the level where chikou and kumo were lost and retest is possible, but my main direction is now down.
Bitcoin h4 chart was trying to gain the kumo resistance yesterday but failed and the h4 chart turned negative. Currently, 26.1 level is followed as resistance. We see a buy order at 25.5-25.8, I think it can fall to those levels and get a reaction, but not go beyond 26.1.
The charts are negative as such, but the markets continue to await the outcome of the Grayscale ETF lawsuit and other ETF decisions. It does not have a clear date, but it is expected to be announced days later, and this is an important decision that will definitely change the direction of the market. If it is Postponed/Rejected, the price charts will follow, so a fomo can start only if the negativity is accepted. If we’re just going to interpret graphics, I’m negative.
