Important Support and Resistance Areas: 3265.0-3321.30
2024-12-26
Category: None


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(ETHUSDT 1D chart)

In this period of volatility, the key is whether it can find support near 3265.0-3321.30 and rise above 3644.71.

If not,
1st: M-Signal on 1W chart
2nd: M-Signal on 1M chart
You should check for support near the 1st and 2nd above.

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When the decline progresses, if the HA-Low indicator of the 1D chart is generated, it is important to see if there is support near it.

The reason is that the movement to close the current wave and create a new wave will begin.

If it falls below the M-Signal indicator of the 1M chart and shows resistance, there is a possibility that it will turn into a downtrend in the long term, so you should think about a response plan for this.

If it receives support near the M-Signal indicator of the 1M chart and rises, the gap between the M-Signal indicator of the 1W chart and the M-Signal indicator of the 1D chart will decrease, so there is a possibility that a large wave will be created when rising.

Therefore, we should look at what it will look like after this volatility period.

Currently, the StochRSI indicator is located near the 50 point, so there is a possibility of volatility, so caution is required when trading.

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Once this volatility ends, the next volatility period for ETH is expected to be around January 22.

However, since the next volatility period for BTC is around January 10th, we will have to see what kind of movement it will show at that time.

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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 range of BTC.

(BTCUSD 12M chart)

Looking at the big picture, it seems to have been maintaining an upward trend following a pattern since 2015.

In other words, it is a pattern that maintains a 3-year upward trend and faces a 1-year downward trend.

Accordingly, the upward trend is expected to continue until 2025.

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(LOG chart)

Looking at the LOG chart, we can see that the upward trend is decreasing.

Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.

Therefore, it is expected that prices below 44K-48K will not be seen 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, it is expected that this Fibonacci ratio will be used until 2026.

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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 this.

If the ATH is renewed, there are no support and resistance points, so the Fibonacci ratio can be appropriately utilized.

However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as support and resistance.

The reason is that the user must directly select the important selection points required to generate 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 to use it for 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

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