Uptrend reversal section: 2555.38-2646.97
2024-10-07


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In order to turn into an uptrend, the price must be maintained above 2555.38-2646.97.

If not, there is a possibility of further decline.

In other words, there is a possibility of decline to around 2359.35.

Therefore, the key is whether it can receive support and rise near the 2464.82-2499.0 section.

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The above is the key to chart analysis.

However, it is not easy to find an answer to why this analysis was done this way with this content alone.

Therefore, in order to understand the content of my analysis, there needs to be an explanation of additional grounds.

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The 2464.82-2499.0 section corresponds to the upper point of the HA-Low indicator box on the 1D chart.

Therefore, if it rises above this section, it means that there is a high possibility of forming an upward trend, so it is an important section.

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There is something I need to explain before that.

The HA-Low. HA-High indicator is an indicator created to indicate a point for trading on the Heikin Ashi chart. (Refer to the HA-MS indicator)

Therefore, the creation of the HA-Low indicator means that a low section has been formed.

Therefore, if it is supported near the HA-Low indicator and rises, then it is the time to buy.

When I first created the HA-Low, HA-High indicator, I didn't show the box section.

Because of that, I felt like the HA-Low, HA-High indicator was useless in the movement that pretended to rise and fall.

In the meantime, there was someone who asked if I could trade futures with this indicator.

So, while explaining this part, I learned that the box section is formed based on the HA-Low, HA-High indicator and then the trend is formed.

That's why I'm introducing it to you in the form of an indicator included in the current chart.

There is no guarantee that the trend will continue just because the box section is broken.

However, I was able to know at what point I should sell and cut my loss.

Therefore, even if I couldn't draw the support and resistance points on the 1M, 1W, and 1D charts, if I can quickly draw the points related to the HA-Low, HA-High indicators shown on the 1M, 1W, and 1D charts, I can do a quick chart analysis.

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Therefore, we can see why the 2464.82-2499.0 section is an important section, and why it should be supported at the 2359.35 point.

However, the 2555.38-2646.97 section cannot be explained by the HA-Low, HA-High indicators above.

To explain this section, we need to refer to the 1W chart.


If you look at the 1W chart, you can see that it is the BW line point.

Therefore, we can see that it is a section made up of the BW line point of the 1W chart and the BW line point of the 1D chart.


In addition, it is also a section that the M-Signal indicator of the 1M chart passes through.

Therefore, in order to turn into an uptrend, the price must rise above the M-Signal indicator of the 1M chart, which is a long-term trend line, and maintain the price.

Otherwise, it is highly likely that it will end in a short-term and medium-term rise, so there is a high possibility that the trading strategy for the uptrend will not be applied properly.

If you mainly do day trading or short-term trading, you can trade depending on whether the price is above or below the M-Signal indicator of the 1D chart.

Currently, the M-Signal indicator of the 1D chart is passing through the 2464.82-2499.0 range, so it can be said that the importance of the 2464.82-2499.0 range has been proven once again.

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As mentioned in the BTC idea, it is very important to find the basis for the support and resistance points that you have indicated.

Doing difficult chart analysis to find this can actually cause confusion in creating a trading strategy.

Therefore, it is recommended that chart analysis be intuitive and fast.

If you analyze charts for a long time, your mind will become cluttered with all sorts of random thoughts, so it is an element that should be avoided.

Chart analysis is about finding support and resistance points that can be used to create trading strategies by being as objective as possible and proceeding intuitively and quickly.

Don't forget this, and through chart analysis, you should be able to draw support and resistance points and find the basis for them to create trading strategies.

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Have a good time.
Thank you.

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- ​​Big picture

It is expected that a full-scale uptrend 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 by forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55

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