Important Support and Resistance Zones: 95904.28-98892.0
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(BTCUSDT 1M chart)
It has risen by about 500% so far.
I think profit taking is naturally taking place as it rises to a new price range.
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(1D chart)
Therefore, the point of interest is whether the price can be maintained around 95904.28-98892.0 or higher until the next volatility period.
If BTC maintains its price around this range, it is expected that the upward trend will continue to create an altcoin bull market.
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The 95904.28-98892.0 range is a range composed of the HA-High indicator and the BW(100) indicator, and can be considered a high point range.
Therefore, if it falls below this range, it is likely to fall further because it has fallen from the high point range.
Therefore, the key is whether the price can be maintained when the M-Signal indicator on the 1D chart rises within this range.
As mentioned earlier, if it falls below the M-Signal indicator on the 1D chart and encounters resistance, it is likely to meet the M-Signal indicator on the 1W chart, so you should think about a countermeasure for this.
If it falls below the 95904.28-98892.0 range, it is expected that altcoins will show a sharp decline.
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(1W chart)
What we should be interested in in this movement is how the StochRSI indicator on the 1W chart resets.
We need to see if the StochRSI indicator resets with a large decline or if it resets sideways.
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If the price stays around 95904.28-98892.0 or higher until the next volatility period, it is expected to move upwards towards the Fibonacci ratio 2.24 (116940.43).
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Have a nice time.
Thank you.
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- Big picture
I used TradingView's INDEX chart to check the entire range of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been following a pattern since 2015.
In other words, it is a pattern that maintains a 3-year bull market and faces a 1-year bear market.
Accordingly, the bull market is expected to continue until 2025.
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(LOG chart)
Looking at the LOG chart, we can see that the increase is decreasing.
Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.
Therefore, we do not expect to see prices below 44K-48K in the future.
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The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.
That is, the Fibonacci ratio of the first wave of the uptrend.
The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019.
Therefore, this Fibonacci ratio is expected to be used until 2026.
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No matter what anyone says, the chart has already been created and is already moving.
It is up to you how to view and respond to it.
Since there is no support or resistance point when the ATH is updated, the Fibonacci ratio can be appropriately utilized.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as a support and resistance role.
The reason is that the user must directly select the important selection points required to create the Fibonacci.
Therefore, it can be useful for chart analysis because it is expressed differently depending on how the user specifies the selection point, but it can be seen as ambiguous for use in trading strategies.
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
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Anmerkung
#XRPUSDT
It doesn't matter whether you trust it or not.
However, the StochRSI indicator creates waves in any case.
Even if it is maintained in the overbought or oversold zone for a long time, it will eventually create waves.
If the StochRSI indicator is above 50, in the overbought zone, it will show a downward trend below 50 or in the oversold zone.
The opposite is also true.
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You can use this movement to determine when to buy or sell.
However, you can choose whether to proceed with an actual transaction or not based on the support and resistance points drawn on the 1M, 1W, and 1D charts.
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Currently, the BW(100) indicator has been created at the 25102 point, and the HA-High indicator is showing a new trend.
Accordingly, if the HA-High indicator is generated at the 2.2018 point, the 2.2181-2.5102 section corresponds to the high point section.
In other words, the high point section is higher than the high point section.
Since the StochRSI indicator has fallen to the 50 point section, there is a possibility of volatility.
If it receives support near the HA-High indicator that is newly generated due to this volatility, it will rise again, and if not, it will likely meet the M-Signal indicator on the 1D chart.
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If the StochRSI indicator falls below the 50 point, you should focus on finding a buying period.
Therefore, if it shows support near the M-Signal indicator on the 1D chart or at the support and resistance points, it is likely to be a buying period.
I think it will be helpful for trading if you create or modify a trading strategy while referring to this correlation.
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