Second section is an attractive buy section (confirm support)
2024-10-26


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(BTCUSDT 1D chart)

It seems to have met resistance in the 68393.48-69031.99 section and fallen below 67414.39.

Accordingly, we need to check for support near 67414.39.

If it meets resistance at 67414.39 and falls, we need to check for support near 65602.01-65920.71.

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BW (50) is showing signs of being newly created at 66668.65.

Accordingly, the key is whether BW (50) can be supported near the newly created point and rise above 67414.39.

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Since the StochRSI indicator has currently entered the oversold zone, the decline is strong.

Therefore, if it fails to maintain the price by rising above 67414.39, it is likely that an additional decline will occur and it is recommended to consider a countermeasure.

When the StochRSI indicator rises above the oversold zone and maintains the state of StochRSI > StochRSI EMA, the upward trend is likely to begin.

Therefore, the 2nd zone (65920.71-67414.39) is an important support and resistance zone.

In addition, since the M-Signal indicator on the 1D chart is passing the 65920.71-67414.39 zone, it is even more important.

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Checking for support is a difficult and tedious task.

Therefore, it is also good to refer to the location of the StochRSI indicator or BW indicator to help confirm the direction when checking whether there is support.


I think that you can create a much better response plan than drawing a trend line and checking whether it goes up or breaks away from it.

Trend lines are used for chart analysis, but they are not very helpful in conducting actual trading.

The reason is that they are made of diagonal lines.

Therefore, I think that it is good to use trend lines in combination with support and resistance points drawn on 1M, 1W, and 1D charts to confirm the period of volatility.

Since a pattern is meaningful when it is completed, you should not try to think in terms of fitting it into a pattern.

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After all, the purpose of everything displayed on a chart should be to conduct trading.

Therefore, you should check what kind of movement is shown at the support and resistance points drawn on the chart and trade accordingly to make a profit.

Since the StochRSI indicator has currently fallen below 50, we should look at the chart with the purpose of finding a time to buy.

For that purpose, the 2nd section (65920.71-67414.39) is an attractive buying section.

If it falls in the 2nd section, the next buying section is likely to be 61099.25-62791.03.

The reason for this is that the M-Signal indicator on the 1W chart is passing around 62791.03.

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Therefore, we should know how to wait when we wait, and when it is time to start trading, we should start trading boldly.

I think it is time to wait because it is still confirming support and resistance.

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Have a good time.
Thank you.

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- ​​Big picture

It is expected that the real uptrend will start after rising above 29K.

The section expected to be touched in the next bull market is 81K-95K.

#BTCUSD 12M

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

These are the points where resistance is likely to be encountered in the future. We need to see if we can break through these points.

We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section.

#BTCUSD 1M

If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55

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