Elon Musk Will Not Take a Role in Mining Council

Bitcoin starts the new week at the level of 39 thousand. BTC, which recovered from the 34 thousand region with its price attack yesterday, is in search of balance in line with the news. There was no money inflow from either existing or new investors in the market for a while. We have not yet clearly seen the positive effects of the countries' adoption of BTC, which started with El Salvador and continued with the governor's recognition of the legal status of virtual currencies in Texas. In addition, we can say that Tesla CEO Elon Musk's statement that he only sells 10 percent of the BTCs in his hand and that he will buy it as environmentally friendly energy production develops was an important catalyst.

When we consider BTC/USDT technically, it can be expected that BTC will gain 5 more points based on the ETH-BTC scissors. The descending wedge outlook also confirmed the reversal pattern, starting with the breakout of 38k. However, since the real bullish process will start with the break of the 44 thousand level, this point will also be the decision point about the continuation of the course that coincides with the Fibo'50 slice. Breakouts should be taken into account, with 37.800 our daily intermediate support and 40.350 our intermediate resistance. Although the outlook is technically recovering, we cannot see a fundamental divergence.

Ethereum is getting ready to end the directionless movements of the Asian session in the market, which started the new week mixed. While some testnet applications were discussed before the London fork on July 31, crowd sensitivity for ETH was negative for ETH in social media analyzes on the other hand. While these analyzes are generally preferred by investors who are looking for bottoms, we see that the amount of ETH in the exchanges has decreased, but new purchases have not been made to the wallets.

When we look at the ETH/USDT parity technically, the descending trend formed from the $ 4370 level was once again violated to the upside. Thanks to this hold above the $2465 level, which coincides with the Fibo'38.2 slice, the violation may turn into a permanent breakout. The $2630 level will be our resistance for the day. The strength of the movement will depend on the money inflows, which are not very strong for now.

Ethereum is getting ready to end the directionless movements of the Asian session in the market, which started the new week mixed. While some testnet applications were discussed before the London fork on July 31, crowd sensitivity for ETH was negative for ETH in social media analyzes on the other hand. While these analyzes are generally preferred by investors who are looking for bottoms, we see that the amount of ETH in the exchanges has decreased, but new purchases have not been made to the wallets.

When we look at the ETH/USDT parity technically, the descending trend formed from the $ 4370 level was once again violated to the upside. Thanks to this hold above the $2465 level, which coincides with the Fibo'38.2 slice, the violation may turn into a permanent breakout. The $2630 level will be our resistance for the day. The strength of the movement will depend on the money inflows, which are not very strong for now.

AVAX, which gained 0.60 percent in the morning hours, is priced at $ 14.80. Technically speaking, the AVAX/USDT pair fell below the support at $13.68 at the weekend, but it went above this level again yesterday and broke the downward trend that has been going on since June 4 at $13.94. While the stochastic in the 4-hour period continues the buy signal it gave on June 12, we see that the RSI has broken the important resistance levels upwards. The resistance at $15.40 for AVAX is read as the first target. With the voluminous break of this level, we expect a rise to $ 16.38, which is the Fibo'23.60 slice. Due to the horizontal trend prevailing throughout the market; Buying close to the supports and selling close to the resistances will be the appropriate strategy.

Ripple is priced at $0.87 with a 1.2 percent depreciation in the morning hours. During the ongoing document collection process between Ripple and the SEC, the demand for Ripple to be different from BTC and ETH was not met. If the SEC does not present these documents to the court, it could face fines. The SEC posted a 22-page post asking for 60 days for these documents to be completed. For now, although the prolongation of the process affects XRP prices, the fact that Ripple is the one that squeezes it turns the balances positively towards the future of XRP.

When we examine the XRP/USDT parity technically, the price movement continues in the rising channel that started on May 23 in the daily period. Finding support at $0.81, which coincides with the channel lower band over the weekend, XRP made its daily close above the $0.88 resistance yesterday. For Ripple, where we see the stochastic crossing in the buy direction in the daily period, we expect a rise towards the $0.98 resistance level.

LTC is priced at $169.50 this morning, depreciating by about 0.80 percent. When we look at the chain data for LTC, we see that the number of new addresses continues to decline in 7-day averages, but there is a recovery in the 7-day average of active addresses. Although LTC is not attracting attention from new investors, we see that active LTC investors are attracting attention again. LTC is more suitable for small transactions than BTC and offers Lightning Network channels to keep transaction fees to a minimum. Therefore, with the appreciation of BTC, the price of LTC will start to rise.

When we consider LTC/USDT technically, we see that a symmetrical triangle is formed in the daily period. Finding support at $154, which coincides with the Bollinger lower band on June 12, LTC broke the resistance at $168.40 yesterday and closed the day above this level. There is a contraction in the Bollinger band for LTC, which has been dominated by horizontal price movements since May 19th. In LTC, which maintains the buy signal of MACD in the daily period, we expect a rise towards the Bollinger middle band and the $176-177 band, which coincides with the descending trend since May 10.

LINK, which gained about 0.40 percent in the morning hours, is priced at $ 23.40. When we check the chain data for Chainlink, we see that there is still no recovery in the 7-day average of the number of active and new addresses. This metric shows that there has been no increase in investors' interest in LINK. The market is focused on the movements of the flagship BTC. With the satisfactory bullish signals coming from BTC, we think that there will be a rapid recovery in LINK.

When we consider the LINK/USDT parity technically, LINK, which broke the minor descending trend that has existed since June 3, last night, is priced above this trend. When we examine it in the 4-hour period, we expect the rises to continue for LINK, which has broken the downward trends in MACD and momentum as of May 27. Priced below the major downtrend, our initial target for LINK is the $24.25 level, which is the Fibo'38.20 tranche. For LINK, which we think will break this resistance upwards, the $26.20 level, which coincides with the major descending trend, is seen as an important resistance point.

BAT is priced around $0.645, depreciating by about 1.1 percent this morning. When we consider the BAT/USDT parity technically, it is priced below the downward trend that has existed since May 7th. When we examine it in the 4-hour period, BAT, which rose from $ 0.608, which is the Fibo'23.60 slice, with the stochastic, which gave purchase yesterday at noon, could not break the resistance level at $ 0.648 yet. With this rise, BAT, which has risen above the resistance at 47.90 on the 4-hours RSI, will continue to rise if it does not fall below this level. If the resistance level of the downtrend at $0.661 is broken, the $0.73 level, which is the Fibo'38.20 tranche, is targeted.