Support range: 61099.25-61759.99
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As the volatility period began, the movement in the opposite direction as expected occurred.
Even if it rises, it was expected to be around 61759.99, but it has risen more.
Accordingly, the key is whether it can receive support around 61099.25-61759.99.
This volatility period is expected to be around October 5-10 (up to October 4-11).
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Since it has risen above 61759.99, you need to check if the StochRSI indicator rises in the oversold zone or switches to a state where StochRSI > StochRSI EMA.
If not, if you buy first, you are likely to feel psychologically uneasy.
Therefore, if it continues to rise, it is recommended to check if it is supported near 62856.30.
If you want to buy when the BW indicator or StochRSI indicator does not meet the purchase timing conditions, it is recommended to approach it with scalping or day trading.
Important support and resistance zones are marked with circles, so you should respond depending on how these zones are broken.
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Have a good 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 I 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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Note
#BTCUSDT.P 1h
It is trying to break upward through the 5EMA and M-Signal indicators on the 1D chart.
Accordingly, if it succeeds in breaking upward, there is a possibility that it will turn into a short-term uptrend.
In order to do that, I think it should show support in the 62766.0-63088.3 range.
If not, we should check for support in the 61149.5-61735.3 range.
Therefore, if it continues to rise,
1st: 62766.0-63088.3
2nd: 63864.2-64300.0
3rd: 64716.7-65922.3
We should check for support in the above range.
If it falls below 60651.2, we should check for support in the 59409.3 range.
Based on the current flow of funds and price movements, the 58823.2-59409.3 range is expected to be the largest decline range.
Note
#BTCUSDT
A new candle has been created.
In the meantime, the StochRSI indicator is showing signs of turning upward in the oversold zone.
Therefore, it can maintain an upward trend until it rises above the oversold zone or touches the StochRSI EMA.
The volatility period of the StochRSI indicator is
1. When falling in the overbought zone
2. When passing around the midpoint (50)
3. When rising in the oversold zone
In the above cases, volatility is likely to occur.
Therefore, in order to proceed with a trade, you need to check what kind of movement is shown near the support and resistance points drawn on the 1M, 1W, and 1D charts when there is a change in the StochRSI indicator.
It is currently located between the 5EMA of the 1D chart and the M-Signal indicator of the 1D chart.
Therefore, it is important to maintain the price in the direction of the 5EMA ~ M-Signal indicator section of the 1D chart.
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To start trading, you must first draw support and resistance points on the 1M, 1W, and 1D charts.
To do this, you need to have a concept of candle arrangement and price moving averages.
The points drawn manually like this provide psychological stability when conducting a transaction.
When support and resistance points are marked using chart tools instead of drawn manually, there are many cases where people do not trust them when conducting a transaction.
The reason is that when the fluctuation range is large, it is highly likely that they will be recognized as incorrect support and resistance points.
As a result, you will make a big mistake of changing the support and resistance points drawn with chart tools while conducting a transaction.
The support and resistance points must be drawn before starting a transaction, and should not be modified while a transaction is in progress.
You can add support and resistance points.
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If you have drawn support and resistance points, you should look at the trend differently.
This is because you can be assured to some extent whether the current trend is up or down, and whether it is likely to receive support or resistance at the corresponding support and resistance points.
This trend should be set so that it can be viewed from short-term trends to long-term trends.
Otherwise, if you only look at the short-term trend and proceed with trading, you may suffer losses due to volatility such as fakes or sweeps.
Therefore, the M-Signal indicators on the 1M, 1W, and 1D charts play that role.
- The long-term trend is handled by the M-Signal indicator on the 1M chart,
- The medium-term trend is handled by the M-Signal indicator on the 1W chart, and
- The short-term trend is handled by the M-Signal indicator on the 1D chart.
By synthesizing their movements and judging the current trend, you can determine the main position at the corresponding support and resistance low points.
The current BTCUSDT chart is in a long-term uptrend, and the short-term and medium-term trends are showing a mixed trend.
That is, the short-term and medium-term trends are converging, and the price is showing a position near this point.
Therefore, volatility will occur soon as the short-term and medium-term trends expand.
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If you have confirmed the trend, the next thing to do is to create a trading strategy to proceed with the transaction.
To create a trading strategy, you need to decide on buying, selling, cutting losses, and realizing profits in installments when it rises and falls.
The selling, cutting losses, and realizing profits methods will change depending on how you proceed with the purchase, so you need to plan your purchase strategy well.
This is because the selling, cutting losses, and realizing profits methods will change depending on whether you purchase all at once or in installments.
Therefore, when proceeding with the purchase, you need to think carefully about how much money you will use and how you will proceed.
If you think about this first, you will be less likely to hastily purchase and conduct the transaction with a great psychological burden, which will increase the possibility of successful trading.
If you have created a purchase strategy, you need to select the stop loss and selling point next.
Depending on your buying strategy, you may not cut your loss, or you may cut your loss quickly and briefly, so you need to select a point that you can handle.
At this time, what you need is the support and resistance points that I mentioned first.
If you have drawn the support and resistance points in advance, you can immediately see how much the support and resistance points have fallen from the section you want to buy, so if the stop loss amount becomes too large, you can wait without trading, preventing psychological fluctuations due to losses.
This will reduce the burden in the next transaction, so you can prevent additional losses or develop the ability to make profits.
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It is very difficult to know whether you will receive support or resistance when buying or selling.
Therefore, auxiliary indicators are used to increase the probability of this movement.
Among the difficult auxiliary indicators, I think the StochRSI indicator is better.
The reason is that it creates waves in any case.
This is because we can anticipate future movements as this wave touches the overbought or oversold zone.
If the StochRSI indicator enters the overbought zone, it will eventually fall, and if it enters the oversold zone, it will eventually rise.
However, we cannot know how much it will rise or fall.
To compensate for this, we need support and resistance points drawn on the 1M, 1W, and 1D charts.
Since various indicators show a complementary relationship, we should not try to judge everything with just one indicator.
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Those who analyze charts with trend lines should check if support and resistance points are indicated on the chart.
If support and resistance points are not indicated, I think it is practically an unknown analysis.
Therefore, we should ask the person who tells us to indicate support and resistance points.
Support and resistance points are very important tasks that correspond to the last step in chart analysis.
This is because chart analysis is done to proceed with trading.
To make a trade, you absolutely need support and resistance points.
That is, you need a horizontal line.
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