The key is whether the price can be maintained above 3644.71
2024-12-16
Category: None


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(ETHUSDT 1W chart)

The key is whether the price can be maintained by rising above the upper section of the HA-High indicator box on the 1M chart.

If not, it will eventually show a downward trend.

The reason is that the StochRSI indicator is maintained at the 100 point and the StochRSI EMA indicator is approaching the 100 point.

Since the StochRSI EMA indicator has not touched the 100 point so far, it will eventually show a downward trend.

However, since the StochRSI indicator cannot predict how much fluctuation will occur, you should refer to the support and resistance points drawn on the 1M, 1W, and 1D charts.

Therefore,
1st: 3438.16-3644.71
2nd: 3265.0-3321.30
The point to watch is whether it can receive support near the 1st and 2nd above.

If the StochRSI indicator is maintained at the 100 point for a long time, you should keep in mind that even if a small decline occurs, the decline in the StochRSI indicator is likely to be quite large.

In other words, it means that there are cases where it pretends to decline and moves sideways and then rises.

To determine this, it is good to refer to the movement of the OBV indicator.

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Thank you for reading to the end.
I hope you have a successful transaction.

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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, 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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