Check support near 59053.55

28. Aug.

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The StochRSI indicator is showing a shaky appearance as it falls below the midpoint.

Accordingly, it is necessary to check the movement of the StochRSI indicator when a new candle is created.

If the StochRSI indicator does not rise above the midpoint, the next volatility zone of the StochRSI indicator will be near the oversold zone.

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With this decline, the HA-Low indicator on the 1D chart was touched again.

Therefore, if it is not supported near 59053.55, it is likely to touch near 56150.01-56950.56.

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What is important in the current flow is whether it can rise along the medium- to long-term upward channel.

And if it does not re-enter the short-term downward channel, it is expected to eventually rise to near 61099.25.

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Have a good time.
Thank you.

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- ​​Big picture

It is expected that a full-scale uptrend will begin after rising above 29K.

The expected range to touch in the next bull market is 81K-95K.

#BTCUSD 12M

1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 13401.28
151166.97-157451.83 (overshooting)
5th: 178910.15

These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.

We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.

#BTCUSD 1M

If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55

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28. Aug.

Anmerkung

The time to trade is when StochRSI and StochRSI EMA intersect.

When they intersect, you need to check whether there is support at some point and decide whether to trade.

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Checking for support is tedious and difficult.

To check for support, you need to utilize the support and resistance points drawn on the 1M, 1W, and 1D charts.

Therefore, you need to draw support and resistance points in advance before the movement occurs.

In particular, since volatility is likely to occur when the HA-Low, HA-High, and M-Signal indicators are touched, it is highly likely that it will be a split trading period.

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The StochRSI related indicator expressed in this chart is an indicator that has modified the formula of the basic StochRSI indicator.

Therefore, it is highly likely that it will show a different appearance from the basic StochRSI indicator.

29. Aug.

Anmerkung

(About the StochRSI indicator...)

Since the StochRSI indicator is a lagging indicator, it is basically drawn when the closing price (Close) is confirmed.

Therefore, when a quick response is required, you should always keep in mind that referring to the StochRSI indicator may result in losses due to late selection.

The StochRSI indicator set on this chart is an indicator that has changed the formula of the basic StochRSI indicator, so it may be expressed differently from the basic StochRSI indicator.

The basic setting values ​​are 14, 7, 3, 3 (rsi, stoch, k, d).

The closing price (Close) of Heikin Ashi was used as the source value.

The StochRSI indicator expressed on the chart used the formula of (K + D) / 2.

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It is best to interpret that the StochRSI indicator has touched the overbought or oversold zone as the completion of the wave of the StochRSI indicator.

Therefore, if it rises in the 1st zone, that is, the oversold zone, it means that the previous wave has ended and a new wave has started.

And, if it rises to the 2nd zone, that is, the overbought zone, and then falls, it means that the previous rising wave has ended and a falling wave has started.

However, if it rises without touching the 2-1 zone, that is, the oversold zone, it can be interpreted that the previous rising wave is still in progress.

Therefore, the most difficult thing to interpret when interpreting the StochRSI indicator is when the trend has changed without touching the overbought or oversold zone.

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Therefore, the volatility range of StochRSI is
1. When falling from the overbought range
2. When passing the middle point
3. When rising from the oversold range
There is a possibility of volatility in the above 1-3 ranges, so caution is required when trading.

The StochRSI EMA indicator is used to supplement these problems.


Therefore, I think that setting the trading point when StochRSI > StochRSI EMA or StochRSI < StochRSI EMA is a way to reduce losses due to fakes.

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I think that trading with only one indicator is very risky.

Therefore, you should always set the support and resistance points on the 1M, 1W, and 1D charts and check the movement of the indicator you want to refer to and whether there is support at the support and resistance points formed at the corresponding points to find the trading point.

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We can see in a fragment that it is not yet time to make a trade because the current StochRSI EMA indicator has not yet fallen below the midpoint.

If the StochRSI indicator enters the oversold zone when the closing price (Close) closes today, the previous rising wave will have closed and a new wave will be created.

29. Aug.

Anmerkung

#BTCUSDT

I think the next volatility period is around September 13 (September 12-14), so I think it is possible that the boring market will continue until then.

The important thing is whether it can rise along the medium- to long-term rising channel.

To do that, the key is whether it can receive support near 59053.55 and rise.

In order to enter the short-term falling channel, it must fall below 56950.56, so it is important to maintain the price above 56950.56 even if it falls.

If the candle closes at the current price position, the StochRSI indicator is likely to enter the oversold zone.

Accordingly, we need to check how far the StochRSI EMA indicator will fall and when the StochRSI indicator will leave the oversold zone and change to a state of StochRSI > StochRSI EMA.

From this perspective, it is expected that the area around 59053.55 will eventually become an important turning point for a trend reversal.

And, I think the uptrend is likely to start when it rises above 61099.25.

If it encounters resistance near 57937.19, it is likely to show a step-down trend, so you should be aware of this when trading.

I will tell you about this when it falls to the area around 57937.19.