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It remains to be seen if it is supported by the uptrend line (2) and can move above the 3.4248 point.
You also need to see if you can get support and climb at 3.3252.
We have to see if we can ascend to the important section of 3.7849-4.0849.
If you go down at 3.3252, you can touch the downtrend line (3), so you need a short Stop Loss.
However, if you cannot set up a short-term response, it is better not to do Stop Loss.
If it falls from the 2.8250 point, a Stop Loss is required to preserve profit and loss.
From the wRSI_SR indicator, the RS line is located in the overbought section.
We need to see if the RS line falls below 80 to turn to a short-term downtrend.
Above all, it's important to get support above the 3.3252 point.
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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line)
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: closing price when closed
G2: Market price at the time of opening
(Example) Gap (G1-G2)
