Why Support and Resistance Points Are Important
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(APEUSDT.P 1M chart)
Usually, the arrangement of candles is used to indicate support and resistance points.
Basically, indicators are used to indicate support and resistance points.
However, I feel like support and resistance points are needed in the 1.9101-6.7780 range.
So, there is a possibility that support and resistance points are drawn near where the fingers are pointing.
The price is currently under 1.9101, so let's check it out on another time frame chart.
In any case, the point to watch is whether it can rise after receiving support in the 1.3270-1.9101 section.
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(1W chart)
When drawing support and resistance points using indicators, it is best to draw indicators that are currently marked with candles.
This is because it means that the current point is acting as support and resistance.
Other than that, you can mark indicators that are thought to have a longer horizontal line than other horizontal lines.
If you check the chart above, I think you'll understand what I mean.
Since the important support and resistance points are indicators that are currently marked with candles, you can create a trading strategy targeting the corresponding horizontal lines.
The sections marked as Support and Resistance on the chart correspond to those.
You can think of the remaining lines as lines that can be used for detailed strategies that allow you to conduct split transactions when conducting transactions.
In that sense, the 1.4870 point can be used for detailed trading strategies, that is, response strategies.
Accordingly, you can proceed with buying or selling.
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(1D chart)
The support and resistance points to be used for detailed trading strategies are indicated in the 1.320-1.9101 section.
That is, the points 1.3929 and 1.6755 are applicable.
These two points correspond to the HA-Low and HA-High indicator points.
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If you have indicated support and resistance points on the 1M, 1W, and 1D charts as above, you can mark them according to the importance of the support and resistance points and create chart analysis or trading strategies for them.
Important support and resistance points are
1st: 0.5841-0.7505
2nd: 1.0670
3rd: 1.3270
4th: 1.9101-2.1090
You can use the points or sections above to create chart analysis or trading strategies.
When marking support and resistance points, do not draw them while thinking about chart analysis or trading strategies.
The reason is that if you do so, you will likely mark support and resistance points while reflecting your subjective thoughts and psychology.
Therefore, when marking support and resistance points, it is important to focus only on the arrangement of candles without thinking about anything else.
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Have a good time.
Thank you.
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- Big picture
It is expected that a full-scale uptrend will begin when it rises above 29K.
The section expected to touch the next bull market is 81K-95K.
#BTCUSD 12M
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
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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