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In order to distinguish which time frame chart the line was drawn on, it is divided into 3 types of lines.
You can create a trading strategy by responding to the support and resistance points or sections drawn on the chart depending on whether there is support or not.
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The left is an example of when the support and resistance points were first created, and the right is an example of what it looked like after that.
To draw support and resistance points, you need to understand the arrangement of candles.
By checking how the candles are arranged, you can draw support and resistance points or sections like the example chart.
To draw support and resistance points or sections on a time frame chart like this, you need to check the arrangement of candles while minimizing the chart as much as possible.
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Indicators are used to draw this work using more objective information.
That is, lines are drawn at the DOM(60), DOM(-60), HA-High, and HA-Low indicator points.
In this way, you will be able to reduce your subjective thoughts as much as possible.
Reducing your subjective thoughts will ensure the reliability of the drawn support and resistance points or sections.
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Going back and drawing support and resistance points or sections with the arrangement of candles means that there must have been movement of candles in the past.
Therefore, if the candle moves to a point where there is no trace of the past, you can no longer draw support and resistance points or sections.
In terms of compensating for this shortcoming, it may be more useful to use indicators to display support and resistance points or sections.
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The DOM indicator is an indicator that comprehensively evaluates the DMI + OBV + MOMENTUM indicators.
If the DOM indicator is 60 or higher, it means that all indicators have risen above their highest value.
If the DOM indicator is -60 or lower, it means that all indicators have fallen below their lowest value.
The fact that the DOM(60) indicator was created means that it is likely to enter the high point range.
The fact that the DOM(-60) indicator was created means that it is likely to enter the low point range.
Therefore, the DOM(60) indicator is likely to correspond to the resistance point, and the DOM(-60) indicator is likely to correspond to the support point.
Since the DOM indicator is displayed on the Close value, it has the disadvantage of being difficult to respond immediately when the actual DOM indicator is created.
However, once it is created, it will faithfully perform the role of support and resistance.
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The HA-Low and HA-High indicators are indicators created to determine the trading point from the Heikin-Ashi candle.
Accordingly, the plotted point corresponds to the average value.
Therefore, the HA-Low and HA-High indicator points have the disadvantage of being expressed differently from the candle's value.
As you can see from the formulas of the HA-Low and HA-High indicators, the RSI value is included in the conditions of the formula.
The fact that the HA-Low indicator was created means that the price rose from the low point range.
Therefore, the HA-Low indicator corresponds to the support point.
The fact that the HA-High indicator was created means that the price fell from the high point range.
Therefore, the HA-High indicator corresponds to the resistance point.
Therefore, we basically have a trading strategy of buying when the HA-Low indicator is created and selling when the HA-High indicator is created.
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It is not clear whether the actual support and resistance points or sections are supported or resisted.
However, as time passes, we can see whether it is supported or resisted.
To help determine whether it is supported or resisted, we use the StochRSI indicator and OBV indicator as auxiliary indicators.
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(BTCUSDT 1D chart)
It is showing an upward trend above the DOM (60) indicator displayed at the current candle position.
And, if StochRSI rises above 80 and maintains the price, the possibility of an upward trend will increase.
If the auxiliary indicator StochRSI indicator rises in the oversold zone and OBV rises above the High Line, the upward trend will be guaranteed.
The previous DOM (60) indicator is formed near the Fibonacci ratio 2 (106178.85).
Therefore, the point of observation is whether it can rise above that.
If it rises and maintains the price, it is expected to renew the ATH.
If not, and it falls below the HA-High indicator or the M-Signal indicator on the 1D chart,
1st: 97226.92
2nd: M-Signal on the 1W chart
You should check for support near the 1st and 2nd above.
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This volatility period is expected to continue until May 20.
However, volatility may also occur around May 23 (May 22-24) and around May 27 (May 26-28), so you should be careful of volatility until May 28.
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Thank you for reading to the end.
I hope you have a successful trade.
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- This is an explanation of the big picture.
I used TradingView's INDEX chart to check the entire range of BTC.
I rewrote the previous chart to update it by touching the Fibonacci ratio range of 1.902 (101875.70) ~ 2 (106275.10).
(Previous BTCUSD 12M chart)
Looking at the big picture, it seems to have been following a pattern since 2015 and has been rising.
In other words, it is a pattern that maintains a 3-year uptrend and faces a 1-year downtrend.
Accordingly, the uptrend is expected to continue until 2025.
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(Current BTCUSD 12M chart)
Based on the currently written Fibonacci ratio, it shows up to 3.618 (178910.15).
Fibonacci ratio 0.618 (44234.54) is not expected to fall again.
(BTCUSDT 12M chart)
I think it is around 42283.58 when looking at the BTCUSDT chart.
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I will explain it again with the BTCUSD chart.
The Fibonacci ratio ranges marked in the light green boxes, 1.902 (101875.70) ~ 2 (106275.10) and 3 (151166.97) ~ 3.14 (157451.83), are expected to be important support and resistance ranges.
In other words, it seems likely to act as a volume profile range.
Therefore, in order to break through this section upward, I think the point to watch is whether it can rise with support near the Fibonacci ratios of 1.618 (89126.41) and 2.618 (134018.28).
Therefore, the maximum rising section in 2025 is expected to be the 3 (151166.97) ~ 3.14 (157451.83) section.
To do that, we need to look at whether it can rise with support near 2.618 (134018.28).
If it falls after the bull market in 2025, we don't know how far it will fall, but considering the previous decline, we expect it to fall by about -60% to -70%.
So, if the decline starts near the Fibonacci ratio 3.14 (157451.83), it seems likely that it will fall to around Fibonacci 0.618 (44234.54).
I will explain more details when the downtrend starts.
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Note
I got a message saying that I couldn't publish because the chart included indicators that weren't disclosed, so I hid all the indicators and published them.I will try to improve this by the end of today and publish normally starting tomorrow.
Note
#BTCUSDT 30mThe channel of the auxiliary indicator OBV is expanded.
Therefore, it is recommended to start looking for a trading period when the channel converges.
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bit.ly/3YxHgvN
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bit.ly/3YxHgvN
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bit.ly/4dcyny3
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Other content (coins, stocks, etc.) is frequently posted on X.
X에 다른 내용(코인, 주식 등)이 자주 게시됩니다.
◆ t.me/readCryptoChannel
[HA-MS Indicator]
bit.ly/3YxHgvN
[OBV Indicator]
bit.ly/4dcyny3
X에 다른 내용(코인, 주식 등)이 자주 게시됩니다.
◆ t.me/readCryptoChannel
[HA-MS Indicator]
bit.ly/3YxHgvN
[OBV Indicator]
bit.ly/4dcyny3
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.