Viewing Point: 2.2181-2.5102 Support -> 3.618 (3.2983) Up
2024-12-09


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(XRPUSDT 1D chart)

I think that coins (tokens) that are renewing their ATH are in a virtually unpredictable range.

However, it is only possible to roughly predict support and resistance points based on the movements of indicators generated by price movements or Fibonacci ratios.

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The Fibonacci ratio currently displayed on the chart is drawn using Trend-Based Fib Extension.

The selected point is marked with X.

The final point of the Fibonacci ratio drawn this way is 3.618 (3.2983).

After that, you need to draw it again using a different wave.

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However, when the price falls while making waves, you need to think about a response plan by checking whether there is support from the movement of indicators such as BW(100), HA-High, BW(0), HA-Low, M-Signal (1M, 1W, 1D charts).

HA-High, BW(100) indicators indicate high point ranges, so if the price is maintained above the 2.218-2.5102 range, it means that it is in the high point range.

Therefore, if the price is maintained in this high point range, it is highly likely to lead to an additional rise.

If it fails to do so and falls, it is highly likely that a downtrend will eventually begin.

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Even though the price has risen, the StochRSI indicator is in the oversold range.

Therefore, when the StochRSI indicator rises in the oversold range and becomes StochRSI > StochRSI EMA, if it is supported near the high point range (2.218-2.5102), it is expected to rise near the Fibonacci ratio 3.618 (3.2983).

At this time, the BW indicator should be maintained above the 50 point.

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When the M-Signal indicator of the 1D chart rises to around 2.2181, if XRP falls, there is a possibility that it will touch the M-Signal indicator of the 1W chart, so you should think about a response plan for this.

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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 maintaining an upward trend following a pattern since 2015.

In other words, it is a pattern that maintains a 3-year upward trend and faces a 1-year downward trend.

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

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(LOG chart)

Looking at the LOG chart, you can see that 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 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, 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.

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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