It is showing signs of a downtrend. But...
2024-11-19


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(BTCUSDT 1D chart)

This volatility period is expected to continue until November 20.

As I mentioned yesterday, the point to watch is which direction it deviates from the 87.8K-93.5K range after the volatility period.

Therefore, it is necessary to check which direction the price will be maintained for a longer period based on the area around 90586.92.

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In order to maintain an upward trend, it is necessary to maintain the state of 5EMA > StErr Line.



If not, and 5EMA < StErr Line is maintained, there is a high possibility of a downtrend.

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Since the StochRSI indicator is located at the 50 point, it is necessary to check in which direction it moves at the 50 point.

When the StochRSI indicator
1. falls in the overbought zone
2. is located near the 50 point zone
3. rises in the oversold zone
When it shows the above movements, volatility is likely to occur.

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The display method has been changed so that you can see which zone OBV is located in by the color of the candle.

1: Above the top point of the box
2: Box midpoint ~ box top point
3: Box midpoint ~ box bottom point
4: Below the bottom point of the box

You can check whether it is a rising candle or a falling candle by the borders or wicks of the candle.

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Have a good time.
Thank you.

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- ​​Big picture
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 maintaining an upward trend following a pattern since 2015.

In other words, it is a pattern that maintains a 3-year upward trend and faces a 1-year downward trend.

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

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(LOG chart)

Looking at the LOG chart, you can see that 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 expect that we will not 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, 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.

How to view and respond to this is up to you.

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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