The key is whether it can rise above 9.39
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(APTUSDT 1W chart)
It seems that the M-Signal indicator on the 1M chart has started to be created.
Accordingly, the 7.41-9.39 section is an important support and resistance section.
When it shows support in the 7.41-9.39 section, it is a time to buy.
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In order to turn into an uptrend, the price must be received above the MS-Signal (M-Signal on the 1W chart) indicator.
Therefore, the key is whether it can receive support and rise near 9.39.
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The high point boundary section is formed in the 12.06-14.50 section, so if it rises above this section, it is expected to create a new upward wave.
If it falls below 7.41, it is expected to enter the mid- to long-term investment area.
Therefore, if possible, I think it would be better to trade when the price is maintained above 7.41 and wait and see if it falls below 7.41.
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(1M chart)
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Thank you for reading to the end.
I hope you have a successful trade.
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- Big picture
I used TradingView's INDEX chart to check the entire section of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been maintaining an upward trend following a pattern since 2015.
That is, 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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(LOG chart)
As you can see from the LOG chart, the uptrend 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 expect that we will not 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.
In other words, it 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.
How to view and respond to this is up to you.
When the ATH is updated, there are no support and resistance points, so the Fibonacci ratio can be used appropriately.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous when used as support and resistance.
This is because the user must directly select the important selection points required to create Fibonacci.
Therefore, since it is expressed differently depending on how the user specifies the selection points, it can be useful for chart analysis, but it can be seen as ambiguous when used for trading strategies.
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
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