Example of how to use the StochRSI indicator
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The key is whether it can rise above the important section of 60672.0-61099.25.
However, if the StochRSI indicator is located below the overbought section and the state of StochRSI < StochRSI EMA continues, it is highly likely that it will eventually fall, so caution is required when trading.
If the price is maintained near the M-Signal indicator (above 59053.55) on the 1W chart, it is expected that there will be a challenge to rise above the 60672.0-61099.25 section again.
If it falls below 59053.55 this time, it is expected to fall to around 56K.
The reason is that the StochRSI indicator is likely to fall below 50.
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We cannot tell how much the StochRSI indicator will rise or fall, but I think it tells us that there will be a change in the trend.
Therefore, the way to use the StochRSI indicator is:
- When the StochRSI indicator enters the overbought or oversold zone and a change in slope is detected
- When the StochRSI indicator intersects and is maintained with the StochRSI EMA indicator
We need to find a way to respond when the above two conditions are satisfied.
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(Example of how to draw and interpret a trend line)
If you look at the trend line from a short-term perspective, you can see that the low trend line and the high trend line intersect in an 'X' shape.
This shape appears when a trend change occurs.
The drawing of the trend line is
1. Low point trend line: Connect the low points when the StochRSI indicator makes the lowest point of the oversold zone.
2. High point trend line: Connect the high points when the StochRSI indicator makes the highest point of the overbought zone.
However, after making the lowest or highest point, it leaves the oversold or overbought zone and then enters the oversold or overbought zone again to make the lowest or highest point.
The intersection of the trend line drawn in this way and the support and resistance points drawn on the 1M, 1W, and 1D charts is likely to be a period of volatility.
However, you should be able to select an important point among the support and resistance points.
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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 begin when it rises above 29K.
The next expected range to touch 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 that are likely to receive resistance in the future.
We need to check if these points can be broken upward.
We need to check the movement when this range is touched because it is thought that a new trend can be created in the overshooting range.
#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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