8 May My Technical Analysis
According to the $BTC regression analysis, the probability of a weekly close below 38176 is now very high compared to the current data. The possibility of making a weekly closing above 38176 until 03:00 at night seems very difficult to me.
There are certain figures and analyzes that I have been underlining for months, and I collect them every week under the name of macro analysis, so that we do not miss what is in the real big picture.
If a good battle could be fought in the 36-38 range, I think a nice zone could be created for the bottom. I personally took a long transaction in this region, but when I did not receive the reaction I expected, I canceled it and put it on hold.
The 38 six-week close can be very troubling compared to the regression. Historical data shows that selling can continue for 2-3 weeks after such a close.
The bottom number subject to this analysis may come around 23-24 K.
The support zone in the range of 33-34 on the daily chart of $BTC is lowered. There may be some reaction from here (at least towards the CME closing price of 36), then if 39.6 is not regained later in the week, it is likely to see the next support in the 30-28 range.
In $LUNA, I said that I expect the decline to continue until the bottom of the channel after such a close, which has a high tendency to close under the channel. In the previous analysis, I said that the USD 100 level is critical and if it does not pass, there will be very serious sales at all lowers.
We observe that the sale extends to the bottom of the channel. There should be a small reaction at the bottom of the channel. The range of 57-60 USD and then 50-47 USD are the two candidate regions for a reaction.
In the $ZEC analysis, I said that there may be a rise up to 130/140 and then selling from there and a macro image of 100 and 80s.
After 142 was seen, it went down to 108 USD level. ✅
There is no strong reaction yet, just in case, it seems reasonable to realize 3 out of 1 and follow other targets for now.
If the $AVAX gray zone does not produce a reaction from the demand zone from the weekly, it goes to the 37-32 rank zone.
$SOL 78 support is lowered here. If there is a reaction from here, a reaction up to 85 will be normal, then with the break of 78, we can first see a decrease to 66.
Other targets are available on the chart, but I'll go piecemeal.
I recommend that you read my last analysis of this graph of $XTZ and then read this analysis. I said once the trend here breaks we'll start to see real bottoms in crypto.
The range of 2.49-2.01 is the monthly support zone for XTZ, and on the weekly chart, this region and long-term accumulation around 1.57, which is one of the regions where the accumulation has peaked in the past, will come to the agenda again.
Take it easy,
It is not investment advice.
Graph Source: Tradingview