The key is whether it can be supported around 3438.16-3644.71
2024-12-10


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(ETHUSDT 1D chart)

If you look at BTC Idea, I think you can understand the current movement.

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The important support and resistance range for ETH is 3265.0-3321.30.

If the price maintains above this range, ETH is expected to continue its upward trend.

To do that, we first need to check whether it is supported around the 3438.16-3644.71 range.

The reason is that if it is supported and rises near this section, it is highly likely to lead to an increase to renew the ATH.

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Similar to the movement of BTC, the high section is showing an upward trend.

Accordingly, if the HA-High indicator is created at the 3831.12 point, the key is whether it can maintain the price by rising above that area.

If it fails to rise, it is likely to meet the M-Signal indicator on the 1W chart near the important support and resistance area.

At this time, if the HA-Low indicator is created, I think it will reset the uptrend so far and determine the trend again.

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The creation of the HA-Low indicator means that the low section has been formed.

Therefore, if the HA-Low indicator is created and shows support near that area, I think it is highly likely that a new upward wave will be created.

However, if it falls below the HA-Low indicator and shows resistance, it is likely to show a step-down trend because it is falling below the low point, so you should think about a countermeasure for this.

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For now, you should check whether the price can be maintained and rise near the M-Signal and MS-Signal indicators on the 1D chart.

The next volatility period for ETH is around December 16, so the point of observation is what kind of movement it shows at that time.

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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 BTC section.

(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 uptrend and faces a 1-year downtrend.

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

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(LOG chart)

As you can see from the LOG chart, 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, we do not expect to see prices below 44K-48K in the future.

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The Fibonacci ratio on the left is the Fibonacci ratio of the upward trend that started in 2015.

In other words, it is the Fibonacci ratio of the first wave of the upward wave.

The Fibonacci ratio on the right is the Fibonacci ratio of the upward trend 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 to decide how to view and respond to this.

When the ATH is updated, there are no support and resistance points, so the Fibonacci ratio can be used appropriately.

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

This is because the user must directly select the important selection points required to create 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 when used for trading strategies.

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

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