The start of a new wave: 2630.0-2772.42
2024-10-20


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The support and resistance points are likely to have changed due to changes in the indicator formula.

Please note this.

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Fibonacci-related chart tools are used for chart analysis.

Therefore, you should be aware that the support and resistance points drawn using the arrangement of candles on the 1M, 1W, and 1D charts are different.

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(ETHUSDT 12M chart)

ETH is one of the coins expected to show a larger increase than BTC.

Therefore, I think it is a coin that is worth investing in long term along with BTC.

The most important volume profile section on the 12M chart is 736.42.

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(1M chart)

The HA-High indicator on the 1M chart is formed at 3321.30.

Therefore, in order for a full-fledged uptrend to begin, the price must be maintained above the HA-High indicator on the 1M chart.

The current point of interest is whether it can be supported and rise near the MS-Signal indicator.

If the MS-Signal indicator falls,
1st: 2159.0
2nd: 1.585.33
We need to check whether there is support near the 1st and 2nd above.

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(1W chart)

Since there are many lines, it can be dizzying, so I marked important support and resistance zones with circles.

Therefore, you can create chart analysis or trading strategies centered on the zones marked with circles.

The current 2630.0-2772.42 zone is supported, and the key is whether it can rise above 3014.05.

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(1D chart)

I think you can see if the current zone, that is, the 2630.0-2772.42 zone, is an important support and resistance zone.

Therefore, the key is whether it can rise above the current zone.

However, since the current StochRSI indicator is located near the highest point (100) of the overbought zone, the pressure for a decline will increase over time.

Therefore, the point to watch is how the StochRSI indicator is initialized.

In other words, when the StochRSI indicator falls from the overbought zone to the oversold zone or rises from the oversold zone to the overbought zone, it is called initialization.

If the price is maintained around 2630.0-2772.42 when initialization is performed like this, it is expected to create a new rising wave.

To do so, it is possible that it will rise to around 3014.04 and then fall, or fall below 2630.0-2772.42 and then rise again.

Of course, it can move sideways like this.

In any case, the price position is an important key point when the StochRSI indicator is initialized.

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Since the M-Signal indicator of the 1W, 1M chart is passing through the 2630.0-2772.42 section, it is expected that a new rising wave will be created if the M-Signal indicator of the 1D chart rises above the 2630.0-2772.42 section.

Therefore, I think it is highly likely that it will be the last buying section before the new wave starts.

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Have a good time.
Thank you.

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- ​​Big picture

It is expected that a full-scale uptrend will start when it rises 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 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15

These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.

We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.

#BTCUSD 1M

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

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