The meaning of this volatility period
2024-10-06


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If you look at the overall flow, you can see that the highs and lows are getting lower.

Therefore, we can say that this wave has an important meaning.

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However, what do you feel when you look at the current situation?

Don't you think it will go up soon?

Since the StochRSI indicator is showing an upward turn from the oversold zone, it feels like an upward wave will come out if it gets support near the current zone (61099.25-61759.99).

However, if it shows resistance near 61099.25, you will think that a downward wave will come out soon.

If you proceed with a transaction in advance at this time, it may only increase psychological anxiety due to the fluctuation range, so you need to be careful.

- In order for an upward trend to start, the price must rise above 64748.70-65920.71 and maintain it,
- In order for a downward trend to start, the price must fall below 56204.13 and maintain it.

Therefore, the current section, 61099.2-61759.99, can be seen as the middle section of the section where an upward and downward wave begins.

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We have one reference information for starting a transaction.

That is the BW indicator.

This is because when the BW indicator forms a horizontal line at the lowest point (0) or highest point (100), it can be judged as a signal that it is time to start a transaction.

Then, you can refer to the movements of the three auxiliary indicators, StochRSI, DMI, and OBV indicators to determine the trading time.

I will say this again, in order to talk about auxiliary indicators, the support and resistance points drawn on the 1M, 1W, and 1D charts must exist near the price position.

If there are no support and resistance points drawn on the 1M, 1W, and 1D charts, it is better not to proceed with the trade.

Otherwise, if you start trading, it is highly likely that you will not be able to respond properly due to the fluctuations as the trade progresses.

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Currently, OBV is located at the 1.0 point.

This means that it is located between the middle point of the box section and the upper point of the box section.

Therefore, it also means that it is in a position where it can rise at any time.

However, since other auxiliary indicators (StochRSI, DMI) are not yet showing an upward trend, it is burdensome to start trading.

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Since the OBV of the 1M, 1W charts are showing a convergence, it seems likely that the direction in which it moves in the current section will determine the future trend.

Therefore, we need to check what kind of movement it shows after this volatility period (up to October 4-11).

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Have a good time.
Thank you.

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- ​​Big picture

It is expected that a full-scale upward trend will begin 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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