ETH's volatility period is expected to last until December 5th
2024-12-04


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(ETHUSDT 1D chart)

Unlike the BTC chart, the HA-High indicator is showing signs of rising and being created.

Accordingly, when the HA-High indicator is created at the 3602.01 point, the key is whether there is support near that point.

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BTC's volatility period is expected to last until December 4th.

However, since ETH's volatility period is expected to last until December 5th, we need to check whether it can be supported near 3644.71.

Currently, the StochRSI indicator has fallen from the overbought zone and has switched to a state where StochRSI < StochRSI EMA, so whether there is support is expected to be an important point of observation.

When the initialization of this StochRSI indicator is completed and it switches to an upward trend, if the price is maintained above 3644.71, it is expected to show an increase to renew the ATH.

Since the BW(100) indicator on the 1D chart was created at the 3707.61 point due to this decline, the possibility of an upward trend starting has increased if it rises above 3707.61.

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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 that it has been maintaining an upward trend following a pattern since 2015.

That is, 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)

As you can see from the LOG chart, 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, we 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.

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, 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.

How to view and respond to this is up to you.

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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