The key is whether it can rise above 60672.0-61099.25
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For those who don't want to read a long explanation, I'll tell you the conclusion first.
The actual chart analysis is as follows.
- Current volatility period: September 9-29
- Next volatility period: Around October 7
- The most important support and resistance zones at the current price position: 60672.0-61099.25
- Support and resistance zones when rising
1st: 63118.62-64000.0
2nd: 65920.71-67614.25
- Support and resistance zones when falling
1st: 57889.10-59053.35
2nd: 56150.01-56950.56
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(Example of how to select a volatility period using the StochRSI indicator)
It is the turn to form a low zone in the wave flow, but by breaking through the high trend line (1) upward, There has been a change in the wave.
The wave that has been going on until now was a downward wave, but it has now broken through the current high trend line (1) upward, making it an unknown state.
Therefore, the section where the high trend line (1) and the low trend line (2) intersect, that is, the section marked with a circle, can be called a volatility section.
In order to continue the existing downward wave, it must fall below the high trend line (1).
If not, there is a high possibility that a new wave will be created.
Therefore, the day when the high trend line (1) and the low trend line (2) intersect, that is, around September 13 (September 12-14), can be called a volatility period.
However, when selecting a volatility period, it is important to have support and resistance lines and trend lines drawn on the 1M, 1W, and 1D charts.
What I have just mentioned is an example of selecting a trend change and volatility period using the flow of waves using the StochRSI indicator.
Trend lines that intersect important support and resistance lines indicate more significant periods of volatility.
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The high trend line is drawn by connecting the high points of the StochRSI indicator, that is, the opening prices of the bearish candles corresponding to points a1 and a2.
(If the candles corresponding to points a1 and a2 are not bearish candles, move to the right until a bearish candle appears.)
The low trend line is drawn by connecting the low prices of the candles corresponding to points b1 and b2 of the StochRSI indicator.
The trend line is ultimately a lagging indicator drawn after the price has passed.
If you say that auxiliary indicators do not need to be considered lagging indicators, I think that means you do not need to look at trend lines either.
Therefore, rather than rejecting indicators, I think it would be good to use them as reference material to create a trading strategy by utilizing several indicators that fit your investment style.
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Based on the explanation above, if we select the next volatility period, October 7th is the volatility period.
This volatility period is the volatility period selected on the 1W chart, and the week before and after September 16th is the volatility period.
Therefore, September 9th-29th is the volatility period.
However, based on the volatility period selected on the 1D chart, we can see that this volatility period began in earnest around September 13th.
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The lines are drawn in a complicated manner, but if you have been watching the explanations I often give, I think you will notice the important parts.
Therefore, you should pay attention to the points, sections, trend lines, indicators, and volatility periods that I mentioned.
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The most important section for the current price position is 60672.0-61099.25.
Therefore, the key is whether it can rise above the 60672.0-61099.25 section and receive support.
Since the sell line of the superTrend indicator is formed at the 60674.89 point, it supports that the 60672.0-61099.25 section is an important section.
If not, it is important whether it can receive support near the 59053.55 point, that is, the MS-Signal (M-Signal on the 1D chart) indicator.
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If the StochRSI indicator falls from the overbought section and maintains the state of StochRSI < StochRSI EMA, the price is likely to eventually fall.
In other words, the StochRSI indicator must touch the overbought or oversold zone to close the current wave and start creating a new wave.
Since it can create a continuation wave of the existing wave, you can refer to the trend line drawn using the StochRSI indicator mentioned above.
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As explained in the previous idea, if it rises above 61099.25, the next support and resistance zone is 63118.62-64000.0.
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You should draw support and resistance lines in advance before starting a transaction.
Otherwise, if you draw support and resistance lines after starting a transaction, your psychological state will begin to be reflected, making it difficult to draw important support and resistance lines, so you should avoid it.
To prevent this, we created a support and resistance point display using auxiliary indicators.
If you use this, I think you can exclude many psychological factors when drawing support and resistance lines even after starting a transaction.
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Have a good time.
Thank you.
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- Big picture
It is expected that the real uptrend will start after rising above 29K.
The section expected to be touched 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: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to be encountered in the future. We need to see if we can break through these points.
We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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Comment
#BTCUSDT
It has risen above 61099.25.
We need to check if it can rise along the medium-term upward trend line (3) ~ short-term upward trend line (2) channel.
If not, and it falls below 60672.0-61099.25, it is important to maintain the price above the short-term downward trend line (1).
The StochRSI indicator appears to have risen again to the overbought zone.
Therefore, when it falls from the overbought zone and StochRSI < StochRSI EMA, it is important to check if it can be supported around 60672.0-62099.25.
We need to check if it is supported around the next support and resistance zone of 63118.62-64000.0.
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It is likely to be like the movement after July 15th.
The reason is that the StochRSI indicator is in the overbought zone.
However, if the price stays above the MS-Signal (M-Signal on the 1D chart) indicator, a new wave will be created.
Comment
A bear trap is when a price deviates from an important trend line or channel and then rises back to the trend line or channel.
You don't necessarily need to know this name.
The reason I sometimes say that if it doesn't fall below the trend line, it will rise is because of this bear trap.
Comment
#BTCUSDT
A full-scale uptrend begins when the HA-High indicator rises above it.
In order to maintain the uptrend, the initialization section of the StochRSI indicator is essential.
In that respect, I think the 61099.25 point is an important section.
There is a volume profile section formed around 58697.01, 64179.08, so we need to check in which direction it deviates from this section.
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