Short-term uptrend if maintained above 97461.86
2025-01-06
Category: None


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(BTCUSDT chart)

There are three major rising channels.


Among them, two rising channels are expected to play an important role in determining the trend.

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(BTCUSDT 1D chart)

BTC is currently moving sideways after the price increase.

However, as the MS-Signal (M-Signal on the 1D chart) indicator rises above the level, the possibility of a short-term uptrend increases.

As a result, the support around 97461.86-98892.0 is the key.

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The important support and resistance range is 93576.0-94742.35.

The high point boundary range is 101947.24-106.133.74.

Therefore, the 101947.24-106.133.74 range is likely to act as resistance.

If the high point boundary range is broken upward, a new wave is expected to be created.

Then, the current movement can be interpreted as creating a pull back pattern and rising.

Therefore, when creating a pull back pattern, it is likely to appear depending on whether there is support near the M-Signal indicator on the 1M, 1W, and 1D charts.

Therefore, it is necessary to closely watch the movement near the M-Signal indicator.

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The next volatility period is around January 10 (January 9-11).

Therefore, the point of interest is where it is located after January 10.

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The BW indicator has touched the 0 point, and the DOM indicator has risen above 0.

Accordingly, it is important to see whether it can maintain the price by rising above 98892.0.

Since the StochRSI indicator shows a change in slope in the overbought zone, it shows that it is under pressure to decline, so it is important to see whether it can maintain the price by rising above 98892.0.

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

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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 in an upward trend since 2015.

In other words, it is a pattern that maintains a 3-year upward trend and faces a 1-year downward trend.

Accordingly, the upward trend is expected to continue until 2025.

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(LOG chart)

Looking at the LOG chart, you can see that the upward trend is decreasing.

Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.

Therefore, I expect that we will not 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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