Check support at important support and resistance zones
Hello, traders.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a nice day today.
-------------------------------------
(ETHUSDT 1W chart)
The key is whether it can receive support and rise around 3265.0-3321.30.
If not, and it falls, it is possible to touch the M-Signal indicator on the 1M chart.
Accordingly, we need to check whether it can rise around 2706.15.
-
(1D chart)
The key is whether it can receive support near the important support and resistance area of 3265.0-3321.60 and rise above 3438.16.
If not, it is likely to fall to around 2895.47 to meet the M-Signal indicator on the 1W chart.
The point to watch is what kind of movement it will show as it passes through the next volatility period of ETH, around December 27 (December 26-28).
-
Thank you for reading to the end.
I hope you have a successful trade.
--------------------------------------------------
- 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
-----------------
