The key is whether there is support near 240.54
2025-01-18
Category: None


Hello, traders.

If you "Follow", you can always get new information quickly.

Please click "Boost" as well.
Have a nice day today.

-------------------------------------

(SOLUSDT 1D chart)

As the price rises, the BW(100) indicator is showing a new movement to be created.

Accordingly, whether it can break through the 240.54 point upward is the key.

The existing high point boundary section is 240.54-256.90.

-
The important support and resistance section in the arrangement of candles is 211.64-222.61.

As evidence to support this, we can point out that the HA-High indicator point (222.61) on the 1W chart and the MS-Signal (M-Signal on the 1D chart) indicator are rising.

-
The current low boundary range is 182.87-194.46.

If it is supported and rises near the low boundary range, it is a time to buy in terms of trading strategy.

If it is resisted and falls near the high boundary range, it is a time to sell in terms of trading strategy.

-
The StochRSI indicator is showing a change in slope in the overbought range.

Accordingly, the key is whether there is support near the existing high boundary range of 240.54-256.90.

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

--------------------------------------------------

- ​​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.

-
(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.

-

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.

-
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

-----------------
