Need to check support and resistance zones
2024-10-23


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(BTCUSDT 1D chart)

The HA-High indicator is being created at the 67414.39 point, showing support.

Therefore, the key is whether it can be supported around 67074.14-67414.39 and rise above 68955.88.

If not,
1st: 65920.71
2nd: 61099.25-62540.0
You need to check whether there is support around the 1st and 2nd above.

Currently, the M-Signal indicator of the 1D chart is passing near 65920.71, and the M-Signal indicator of the 1W chart is passing near 62540.0.

Therefore, whether there is support near the 1st and 2nd is meaningful in terms of the trend.

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When drawing a trend line, the point that the arrow points to corresponds to the point selected when drawing the trend line.

The points 1 and 2 indicated on the StochRSI indicator are inflection points that do not enter the overbought or oversold zone, so they are not used when drawing the trend line.

You can display the volatility period according to the currently drawn trend line and the support and resistance points drawn on the 1M, 1W, and 1D charts.

For the reason for selecting the volatility period, please refer to the part indicated by the circle.

Accordingly, the volatility period is around October 25, October 30, and November 12.

The volatility period I mentioned is just for explanation.

In reality, we need trend lines drawn from the past on the 1M, 1W, and 1D charts.

The importance of trend lines is in the order of 1M > 1W > 1D chart trend lines.

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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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