Forget everything after studying the chart
2024-10-14


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(BTCUSDT 1D chart)

The key is whether it can rise along the trend line (2).

When a new candle is created, it is necessary to check whether the StochRSI indicator enters the overbought zone.

The zone marked with a circle corresponds to the important support and resistance zone.

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(BTCUSDT.P 1D chart)

When the Mid (50) line is created, whether there is support near it is the key.

The Mid (50) line is a position conversion line, so the trend is likely to be formed depending on whether the price is maintained above or below the Mid (50) line.

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When I learned about patterns while studying charts, I was amazed and thought I could stop studying charts.

However, as I traded, I realized that patterns are just the past appearances of charts.

You should forget all the studies you have done on charts after you finish studying them.

Otherwise, if you try to apply what you have studied to the current chart, you will likely end up analyzing charts or trading incorrectly.

So why should you study charts?

I think it is the same as studying in school as we grow up.

It is not necessary when you are living in real life, but it is the same reason you should study them.

Therefore, if you have studied and understood the arrangement or patterns of candles, forget them all.

If you are stuck in the framework of knowledge gained from studying charts, you may try to fit the pattern rather than respond to real-time movements.

Then, it may become a trade that you regret.

- How well you indicate support and resistance points,
- How much you trust those points,
- How much you can create a response strategy for those points are the things that remain after studying charts.

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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 start after rising above 29K.

The section expected to touch 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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