Whether it can be supported and rise near 97226.92 is the key
2025-02-16
Category: None


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(BTCUSDT 1M chart)

Half of February has passed.

Since the BW(100) indicator was created not long ago, it seems that it will take some more time to know whether it will act as support and resistance.

The current BW(100) indicator point is 102429.56.

Since the M-Signal indicator on the 1M chart is passing around 70K, it is not strange if it falls at any time.

On the other hand, it is not strange if it rises at any time.

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(1W chart)

Since the HA-High indicator of the 1W chart was created at the 97226.92 point, it is important to see if there is support around this point.

Since the M-Signal of the 1W chart > the M-Signal of the 1M chart, we need to see if the price can be maintained above the M-Signal indicator of the 1W chart.

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(1D chart)

The key is whether it can be supported around 97226.92 and rise above the M-Signal indicator of the 1D chart.

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Since the StochRSI indicator is in the overbought zone, if it falls near 97226.92, it is possible that it will touch the 92792.05-94742.35 zone.

At this time, the important thing is to maintain the price above the M-Signal indicator on the 1W chart.

To do so, the price must be maintained above 91231.0, which is the low point on February 3.

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This volatility period is until February 17.

The next volatility period is around February 24 (February 23-25).

Therefore, do not relax and check whether the price is maintained by rising above the M-Signal indicator on the 1D chart, and whether the M-Signal indicator and Trend Cloud indicator on the 1D chart turn upward.

If it turns upward around 97226.92,
1st: 101947.24
2nd: 103706.66-104.463.99
You should respond depending on whether there is support around the 1st and 2nd above.

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Thank you for reading to the end.
I hope you have a successful trade.

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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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