Sideways until around December 3rd (???)
2024-11-28


(Title) The point of interest is whether it will move sideways until around December 3rd

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(BTCUSDT 1D chart)

The key is whether it can rise with support near the high point area of ​​96372.40-98892.0.

If not, the point of interest is whether it can move sideways in the box area of ​​the HA-High indicator of 91792.14-98871.80 until around December 3rd.

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Because the gap between the M-Signal indicator on the 1W chart and the M-Signal indicator on the 1D chart is wide, I think it is important to see whether it can move sideways from the current price position.

If it falls below the M-Signal indicator on the 1D chart, it is likely to fall near the M-Signal indicator on the 1W chart or the HA-Low indicator on the 1D chart.

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If the sideways movement continues until around December 3, I think it is highly likely that an upward movement to break through 100K will begin.

At this time, you need to check the movements of the BW and StochRSI indicators.

I will tell you more details at that time.

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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 following a pattern since 2015.

In other words, it is a pattern that maintains a 3-year bull market and faces a 1-year bear market.

Accordingly, the bull market is expected to continue until 2025.

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(LOG chart)

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

That 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 and resistance role.

The reason is that the user must directly select the important selection points required to create the Fibonacci.

Therefore, it can be useful for chart analysis because it is expressed differently depending on how the user specifies the selection point, 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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