Arrived at the starting line for the ATH update
2024-11-28


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(ETHUSDT 1D chart)

It is rising as the starting point for the ATH update.

Accordingly, it is important to see whether it can receive support and rise near 3644.71.

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Unlike the BTC chart, you can see that the gap between the M-Signals on the 1D, 1W, and 1M charts is narrow.

Therefore, it is expected that the trend will be determined again after the ATH update this time.

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Based on the current price position, the important support and resistance zone is 3265.0-3321.30.

Therefore, if the price is maintained above 3265.0-3321.30, I think it is highly likely that the uptrend will continue.

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(1M chart)

I wonder how high it can rise if the ATH is renewed.

I think the Fibonacci ratio can solve this curiosity a little.

Based on the currently drawn Fibonacci ratio, if it rises above 1 (5005.30), it is expected that the rise will begin to rise to around 1.618 (7362.80).

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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 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.

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(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.

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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.

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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 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

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