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(BTCUSDT 1D chart)
It is showing a downward trend below the previous ATH range.
Accordingly, we need to see if it can rise to around 109588.0 and receive support.
However, since it is currently going through a period of volatility, we need to be careful about trading until May 28th.
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If it falls further, we need to check if it can receive support near the Fibonacci ratio range of 1.902 (101784.54) ~ 2 (106178.85).
In particular, whether it can receive support near the M-Signal indicator on the 1D chart is key.
If it falls below the M-Signal indicator on the 1D chart, there is a possibility that it will touch the M-Signal indicator on the 1W chart, so we need to think about a response plan for this.
Therefore, if it shows support near the M-Signal indicator on the 1D chart, there is a possibility that it will show a pull back pattern.
The HA-High indicator of the 1D chart is formed at 102302.08, so it is important to see if there is support around this point.
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The OBV indicator shows that OBV is falling below the High Line, and the StochRSI indicator is also showing that it has switched to a state of K < D.
Therefore, it is necessary to check whether OBV can touch the previous High Line or OBV EMA and rise.
If it falls below that, it is highly likely to lead to further decline.
I compared the previous OBV movements, that is, A, B, C, and the current movement, and the difference can be distinguished by whether it fell below the previous candle or not.
You can see that there is a difference from the previous movement because it is highly likely to close below the previous candle.
Therefore, the point to watch is whether it falls below 102302.08 after the volatility period or rises above 109588.0-110787.38.
If it falls below 102302.08 and receives resistance, it will turn into a short-term downtrend, and if it rises above 109588.0-110797.38, it is likely that the uptrend will resume, so it is a meaningful section.
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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.
(3-year bull market, 1-year bear market pattern)
I will explain more details when the bear market starts.
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Note
(30m chart)Support section
1st: 106133.74-106849.99
2nd: M-Signal (104463.99) of 1D chart
3rd: 102302.08
You should think about a response plan depending on which section of the 1st-3rd section above can be supported and rise.
When the section above shows support, if the OBV shows an upward breakout of the Low Line or High Line, there is a possibility of an upward turn.
However, the Low Line or High Line must show an upward breakout.
- If the OBV breaks below the Low Line or High Line, it is likely to show a downward breakout,
- If the OBV breaks above the Low Line or High Line, it is likely to show an upward breakout.
Note
The HA-High indicator on the 1D chart is showing signs of being newly created.
Accordingly, if the HA-High indicator is created at the 106843.58 point, it is important to check whether there is support near it.
The creation of the HA-High indicator means that there has been a decline from the high point range.
Therefore, if there is resistance from the newly created HA-High indicator and it falls, it can be interpreted that there has been a decline from the high point range.
However, if there is support near the HA-High indicator and it rises, there is a possibility of a stepwise upward trend.
What we need to do is check whether there is support near the HA-High indicator and create or modify a trading strategy accordingly.
Trade active
#BTCUSDT 30mThe OBV High indicator on the 1D chart indicates the point corresponding to the High Line of the OBV indicator.
Therefore, in order to continue the uptrend, the price must rise above the OBV High indicator and maintain it.
If it fails to rise, you should check if it can be supported near the HA-High indicator on the 1D chart or near the M-Signal indicator on the 1D chart.
Note
The start and end of the transaction are made on the HA-Low and HA-High indicators.
Usually, you buy on the HA-Low indicator and sell on the HA-High indicator.
However, if the HA-High indicator supports and rises, there is a possibility of a stepwise rise, and if the HA-Low indicator resists and falls, there is a possibility of a stepwise fall.
However, you should not forget that the end of a stepwise rise is a decline, and the end of a stepwise fall is a rise.
It takes a long time to see the shape on a 1D chart, but you can quickly see the movement on a time frame chart of 1D or less.
The remaining indicators, DOM(60), DOM(-60), OBV High, OBV Low, StochRSI 50, StochRSI 80, StochRSI 20, OBV(0), are used for detailed response strategies.
DOM(60) indicates the high point range, and DOM(-60) indicates the low point range.
If OBV High or StochRSI rises above 80 and maintains the price, there is a possibility of an upward trend, and if OBV Low or StochRSI falls below 20 and maintains the price, there is a possibility of a downward trend.
It is okay to disable the OBV High and OBV Low indicators on the time frame charts below the 1D chart.
This is because they are created in such a short period of time that it is difficult to use them except when trading with scalping.
Therefore, we should focus on finding the trading point when we meet the HA-Low and HA-High indicators.
It is recommended to use split trading as the main trading method in preparation for the possibility of a stepwise uptrend or downtrend.
If you want to start a trade other than the HA-Low and HA-High indicators, it is recommended to proceed with a short trade.
Note
#BTCUSDTWe need to see if the price can be maintained by rising above the OBV High indicator on the 1D chart.
Looking at the OBV indicator on the 30m chart, it is important to see if it can rise above the OBV High indicator on the 1D chart, as it is showing signs of turning upward.
If it falls, we need to see if it can be supported and rise near 108353.0.
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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.