Pull back is a pattern that can be recognized after it is formed
2024-11-02


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(BTCUSDT 1D chart)

The HA-High indicator is showing signs of being created at the 69843.04 point.

Accordingly, the point of observation is whether it can receive support and rise near the 69843.04-70148.34 section.

We need to check whether the StochRSI indicator falls below 50 due to this decline.

When the price is supported in the 68393.48-70148.34 range, if the StochRSI indicator remains below 50 and StochRSI > StochRSI EMA, it is a time to buy.

Basically, if the StochRSI indicator is above 50, it is better to focus on finding a time to sell, and if it is below 50, it is better to focus on finding a time to buy.

In particular, you should focus more when it is in the overbought and oversold ranges.

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The MS-Signal indicator consists of M-Signal and S-Signal.

Since S-Signal is currently in the 66668.65-68393.48 range, it is possible to touch this range and rise, so caution is required when trading.

Therefore, it is better to check the movement when the state of M-Signal < S-Signal is changed.

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(BTCUSDT.P 1D chart)

If it falls below 68447.9, liquidation is required for positions purchased (LONG) below 67044.1.

In other words, if the first installment liquidation was performed above 69835.3, the second installment liquidation is required around 68447.9.

Then, when it shows support in the 68447.9-69835.3 range and the StochRSI indicator is below 50 and StochRSI > StochRSI EMA, you can make an additional purchase (LONG).

It is recommended that this additional purchase (LONG) be made below 69835.3.

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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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