Whether it can be supported near 90375.2 is the key
2024-11-16


(Title)
Whether it can be supported near 90375.2 is the key
(Some of the big picture content has been modified)

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(BTCUSDT 1D chart)

BW(100) indicator (90375.2) has risen above.

Accordingly, the 90375.2 point is likely to be an important support and resistance point.

Therefore, the point to watch is whether it can be supported near 90375.2 and rise above 3.14 (93570.28).

If not, we need to check if it is supported around 2.618 (87814.27) ~ 1.618 (89050.0).

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If StochRSI < StochRSI EMA, it is likely to fall.

Since StochRSI EMA has never touched 100 so far, the downward pressure will increase as it approaches 100.

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This volatility period is until November 20.

Therefore, we need to check in which direction it deviates from the 87.8K-93.5K range and maintains it after this volatility period.

The target range is around 3.618 (98841.11).

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I have talked about the big picture below several times.

Since we touched the target range of 81K-95K that I mentioned earlier, I'm going to make some corrections to the explanation in the big picture.

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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 following a pattern since 2015 and has been rising.

In other words, it is a pattern that maintains a 3-year uptrend and faces a 1-year downtrend.

Accordingly, the uptrend is expected to continue until 2025.

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(LOG chart)

Looking at the LOG chart, you can see that the uptrend 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 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 uptrend that started in 2015.

In other words, it 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 or resistance.

The reason is that the user must directly select the important selection points required to generate 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 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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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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