Buy time: When supported around 0.2209
2025-02-07
Category: None


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(TRXUSDT 1D chart)

The chart was broken due to the surge on December 3rd.

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The Fibonacci ratio 1.902 (0.2135) ~ 2 (0.2217), where the surge began, is an important support and resistance area.

Also, the M-Signal indicator on the 1W chart is passing around 0.2209, showing the role of important support and resistance.

If the price is maintained around the 5EMA+StErr indicator and rises above the MS-Signal indicator, there is a high possibility that it will turn into a short-term uptrend.

However, since a high boundary zone is formed in the 0.2543-0.27 section, it is important to see whether this section can be broken upward.

Therefore, if possible, I think it would be good to buy when the MS-Signal indicator approaches 0.2209 and shows support near 0.2209.

The reason is that it plays the role of a trend reversal based on the MS-Signal (M-Signal on the 1D chart) indicator.

In other words, it plays the role of support and resistance.

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If it falls based on the Fibonacci ratio 1.902(0.2135) ~ 2(0.2217) section,
1st: Fibonacci ratio 1.618(0.1888) ~ 0.1967
2nd: 0.1567-0.1712
You need to check whether there is support near the 1st and 2nd sections above.

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

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- ​​Big picture
I used TradingView's INDEX chart to check the entire section 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 uptrend and faces a 1-year downtrend.

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

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(LOG chart)

As you can see from the LOG chart, 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 do not expect to see prices below 44K-48K in the future.

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The Fibonacci ratio on the left is the Fibonacci ratio of the upward trend that started in 2015.

In other words, it is the Fibonacci ratio of the first wave of the upward wave.

The Fibonacci ratio on the right is the Fibonacci ratio of the upward trend 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.

It is up to you to decide how to view and respond to this.

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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