Configuring channeling between indicators
2024-10-21


Configuring channeling between indicators (StochRSI, BW reference)


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(BTCUSDT 1D chart)

From September 22 to 28, the StochRSI indicator was maintained at the highest point (100).

Since October 16, the StochRSI indicator has risen above 99.

Accordingly, there may be additional increases.

At this time, the point of observation is whether it can rise to the vicinity of 71280.01-72078.1.

It is expected that the StochRSI indicator will have to rise above 68955.88 to touch the highest point (100).

I think that the longer the StochRSI indicator stays in the overbought zone, the stronger the downward pressure becomes.

Therefore, this pressure is likely to appear as a sharp change in the StochRSI indicator.

The StochRSI indicator cannot tell the fluctuation range.

Therefore, we can only make predictions by referring to the important support and resistance points drawn on the 1M, 1W, and 1D charts.

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In order for BTC to continue its full-scale upward trend, the price must be maintained above the HA-HIgh indicator.

Accordingly, from the current perspective, the price must be maintained above 61099.25-65920.71.

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(1M chart)

It seems that the change started on the 1M chart.

Accordingly, we need to look at the section where a new candle is created.

From the current perspective, the BW (100) line is created at 68955.88, 71280.01, and 72078.1.

Therefore, these points may correspond to resistance sections.

Breaking through this point upward means renewing the high section, which increases the possibility of creating a new wave.

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New indicators called OBV Up and OBV Down have been added.

These indicators also display the high and low sections.

It is expected to be useful when creating detailed trading strategies and response strategies.

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The HA-Low, HA-High, BW (0), and BW (100) indicators display the low and high sections, respectively.

Therefore, the basic trading method is to buy at the HA-Low, BW (0) point and sell at the HA-High, BW (100) point.

Therefore, the HA-Low ~ HA-High, BW (0) ~ BW (100) section can be considered as the box section.

A trend can be considered to be formed only when this section is exceeded.

The box section consisting of the HA-Low ~ HA-High, BW (0) ~ BW (100) section can be considered as channeling in a broad sense.

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(Renko 1D chart)

If the price is maintained above 68K, it is highly likely to create a new wave.

This makes it more likely to break out of the downward sideways movement.

If it falls below 68K, it is necessary to check whether it is supported around 58K-62K.

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(BTCUSDT.P 1D chart)

The key to futures trading is forced liquidation.

Therefore, I think how to close the transaction before being forced liquidated is an important issue.

In order to make a big profit, you need to set the leverage or investment ratio high.

However, you need to make a careful decision because the forced liquidation point is getting closer.

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If you traded as a sell (SHORT) at the 69001.8 point, and the price rises, and the forced liquidation point is formed above the 72153.8 point, I think you can maintain the sell (SHORT) position.

The reason is that the StochRSI indicator has entered the overbought zone and is close to the highest point (100).

In this situation, I think the term used is rising short (increasing the proportion of SHORT positions when the price rises).

The opposite is falling long (increasing the proportion of LONG positions when the price falls).

You need to respond according to your forced liquidation point.

If possible, in futures trading, it is good for your mental health to start trading with one buy (LONG) and sell (SHORT) and cut your loss when the opposite movement occurs.

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Currently, the M-Signal of the 1D chart > M-Signal of the 1W chart > M-Signal of the 1M chart, that is, a regular array.

In this case, it is better to trade with a buy (LONG) position.

However, when the StochRSI indicator is in the overbought zone as it is now, it is not the time to start trading with a buy (LONG) position.

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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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