If it receives support at 2.179-2.862, it is time to buy
Hello, traders.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a nice day today.
-------------------------------------
(CVXUSDT 1D chart)
The key is whether it can receive support near 2.835-2.862 and rise above 3.267.
Since the StochRSI indicator is showing signs of entering the overbought zone again, if it does not receive support near 2.835-2.862,
1st: 2.472
2nd: 2.179
It is expected to fall to the 1st and 2nd levels above.
Since the HA-Low indicator of each chart is located in the 2.179-2.862 range, if it is supported within this range, it is a time to buy.
The fact that the HA-Low indicator was created means that it has moved out of the low range.
-
Since the HA-High indicator of the 1W chart is formed at the 3.267 point, if it is supported at this point, I think that a full-scale uptrend is likely to begin.
However, since the M-Signal indicator of the 1M chart is passing around 4.086, the point to watch is whether it can rise above this point and maintain the price.
-
If it falls below 2.179, you should check whether it is supported when the HA-Low indicator is created again and determine whether trading is possible.
-
Thank you for reading to the end.
I hope you have a successful transaction.
--------------------------------------------------
- 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.
-
(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.
-
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.
-
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
-----------------
