Support near the HA-High indicator is the point of observation
2024-11-25


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(BTCUSDT 1D chart)

The HA-High indicator is showing signs of being created at the 94264.99 point.

Accordingly, if the HA-High indicator is newly created, whether there is support near it is the key.

Since the HA-Low and HA-High indicators touched the indicators most of the time when they were newly created, it is expected that the HA-High indicator will be touched this time.

Therefore, the price is expected to fall.

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What we need to look at is whether it can rise when it touches the MS-Signal (M-Signal on the 1D chart) indicator.

If it doesn't rise, it can lead to a decline until it meets the M-Signal indicator or the HA-Low indicator on the 1W chart.

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Since the BW(100) indicator is currently created at 98892.0, it will eventually have to rise above this point to continue the upward trend.

Therefore, for now, the picture that touches the HA-High indicator and rises above the BW(100) indicator is the best picture.

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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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