The point of observation is whether it breaks out of 87.8K-93.5K
2024-11-18


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When a new candle is created on the 1W chart, I will update it again.

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(BTCUSDT 1D chart)

The StochRSI indicator is showing a downward trend in the overbought zone.

Accordingly, the point of observation is whether it can receive support and rise around 2.618 (87814.27) ~ 1.618 (89050.0).

If it falls below 2.618 (87814.27), the key is whether it can rise with support near the M-Signal indicator on the 1D chart.

If it is confirmed that it is supported near 79.9K-80.9K, it is thought that a pullback pattern may be created, so you should pay close attention to the movement at this time.

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However, if the StochRSI indicator falls near the 50 point, volatility may occur, so you should be careful about a rebound.

This volatility period is expected to last until November 20, so caution is required when trading.

In order to maintain this upward trend,
1st: 68393.48-71335.47
2nd: 57694.27-61099.25
It must rise with support near the 1st and 2nd above.

Therefore, until then, I think you should focus on how to lower the average purchase price or how to increase the holding amount and develop a trading strategy.

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(BTC.D 1M chart)

I think that for the altcoin bull market to start, the BTC dominance must fall below 55.01 and remain there or show a downward trend.

Otherwise, if the BTC dominance shows an upward trend, the altcoins are likely to gradually move sideways or show a downward trend because funds will be concentrated on BTC.

(USDT.D 1M chart)

If the USDT dominance falls below 4.97 and remains there or shows a downward trend, the coin market is likely to create a bull market.

However, whether it is a bull market where all coins (tokens) are rising together or a bull market where only BTC is rising can be roughly determined by whether BTC dominance is falling or rising.

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Have a good time.

Thank you.

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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 rising since 2015 following a pattern.

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.

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(LOG chart)

Looking at the LOG chart, you 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, 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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