Check if it is a regular array before trading
2024-10-12


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Since ETH is in a reverse array (M-Signal on the 1D chart < M-Signal on the 1W chart < M-Signal on the 1M chart), I don't think it's time to trade.

However, since it is located near the HA-Low indicator and the M-Signal indicator on the 1D chart, if it receives support, it can be considered an aggressive buying period.

Such aggressive buying requires a short and quick response.

From this perspective, if ETH maintains its price around the 2555.38-2646.97 range and switches to a regular array (M-Signal on the 1D chart > M-Signal on the 1W chart > M-Signal on the 1M chart), it is ready for trading.

If you are familiar with day trading, you can start with aggressive buying and move on to full-scale trading, but if you are not, it is better to pass on aggressive buying.

If you make an aggressive purchase and it fluctuates up and down, you will not be able to hold on and sell when you need to make a full-scale transaction, which will reduce your profits or you will likely suffer losses even if the price rises.

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Currently, the only coin recognized for its value after BTC is ETH.

You can argue this, but this is a fact.

Several coins are making efforts to be recognized for their value.

Namely, XRP, SOL, etc.

Therefore, I think that long-term investments are BTC and ETH, and the remaining coins and tokens are trading coins that earn profits through trading in the medium term or less.

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(ETHUSDT 12M chart)

When drawing a parallel channel, the most important trend is the trend line (1) created by the first and second selection points.

Therefore, if the first and second selection points are selected incorrectly, an incorrect channel may be created.

The next important thing is the third selection point, which determines the width of the channel.

If this is also selected incorrectly, it can be interpreted incorrectly, so caution is required.

Therefore, trend line (2) is the important trend line.

The next important thing is trend line (3) created between (1) and (2).

Therefore, if trend lines (1), (2), and (3) are passed, there is a high possibility that a change in the trend will occur.

The Fibonacci ratio is displayed as a Trend-Based Fib Extension tool with the selected candlestick of the parallel channel.

Accordingly, the drawing for basic chart analysis is completed.

Fibonacci ratio or parallel channel is for chart analysis, not for trading, so do not confuse them.

If you think of Fibonacci ratio as support and resistance points and there are no support and resistance points drawn separately on the 1M, 1W, and 1D charts, I think the transaction is likely to fail.

Therefore, in order to proceed with the transaction, you must mark the support and resistance points on the 1M, 1W, and 1D charts.

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(ETHUSDT 1W chart)

If you drew an ascending parallel channel on the 12M chart, you drew a descending parallel channel on the 1W chart.

The 1M chart is drawn as an ascending parallel channel like the 12M chart, so it was not drawn.

This allows for a more accurate analysis when looking at just one parallel channel.

The Fibonacci ratios shown on the left were drawn on the 1W chart.

We found that a change in trend can occur by passing through the area indicated by the circle.

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(1D chart)

The price made an uptrend and then started to make a downtrend.

As you can see in the 1D chart above, there are two downtrends.

The first wave of the downtrend provides important information.

Therefore, if possible, it is better to draw a trend line on the first wave where the change in wave occurred.

The second downtrend is connected to the current wave, so this also provides important information.

If you mark important areas according to the current price position, it is the same as the order of the circles marked on the chart.

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Have a nice time.
Thank you.

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- ​​Big picture

It is expected that the real uptrend will start after rising 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 be encountered in the future. We need to see if we can break through these points.

We need to see the movement when we touch this section because we think we can create a new trend in the overshooting section.

#BTCUSD 1M

If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55

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