Volatility period expected to continue until November 20
2024-11-17


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(BTCUSDT 1D chart)

The shape of the candle (Doji, Star) and StochRSI and StochRSI EMA are showing signs of crossing.

Accordingly, the key is whether it can receive support and rise near 90375.20.

If not,
1st: 87.8K-89K
2nd: 83.6K
It is expected to fall to the 1st and 2nd areas above.

This volatility period is expected to continue until November 20.

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Have a nice 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 in an upward trend since 2015.

In other words, it is a pattern that maintains a 3-year uptrend and faces a 1-year downtrend.

Accordingly, the uptrend is expected to continue until 2025.

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(LOG chart)

Looking at the LOG chart, you can see that the uptrend is decreasing.

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

Therefore, I expect that we will not 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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