How StochRSI is initialized is the point of interest
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(USDT.D 1D chart)
USDT dominance is showing a decline below the important section.
Therefore, we need to check whether the M-Signal on the 1D chart can follow and create a state where the M-Signal on the 1M chart > M-Signal on the 1W chart > M-Signal on the 1D chart.
Since the StochRSI indicator has entered the oversold section, if it rises, the key is whether it can meet resistance near the M-Signal on the 1D chart.
In order for the coin market to start an upward trend, it is expected that the USDT dominance will have to fall below 4.97 and be maintained.
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(BTCUSDT 1D chart)
In fact, even if the current price position, that is, 63118.62-64000.0, is supported and rises, I don't think it's a good idea to make new purchases.
From the perspective of a breakout trader, it is a position worth challenging, but it is a position that requires a quick response and decision.
StochRSI has not yet initialized.
Therefore, it is showing that it is not strange for a decline to occur at any time.
I have talked about the entry point to start trading several times, so I will not talk about it here.
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If it is supported and rises near 63118.62-64000.0, it is highly likely to turn downward while touching near 65920.71-67614.25.
However, if StochRSI is initialized, it may show an upward trend as it continues to a new trend.
Therefore, what is important to look at now is how to initialize StochRSI.
Initializing StochRSI means that if StochRSI has entered the overbought zone, it must touch the oversold zone.
This initialization does not necessarily mean that it will lead to a large decline.
Therefore, it means that StochRSI may be initialized while showing support near 63118.62.
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Therefore, the area near 61099.25 is an important support and resistance zone.
This is because the M-Signal of the 1D, 1W chart is currently passing by and the BW line is formed.
Therefore, the entry area is around 61099.25, that is, when it shows support near the BW line or the M-Signal of the 1D, 1W chart.
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This volatility period is until September 29.
The next volatility period is around October 11.
Therefore, the point of interest is what kind of channel (rising channel or falling channel) the currently drawn trend line will create in the 'X'.
-
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 area 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 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
-----------------
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a nice day today.
-------------------------------------
(USDT.D 1D chart)
USDT dominance is showing a decline below the important section.
Therefore, we need to check whether the M-Signal on the 1D chart can follow and create a state where the M-Signal on the 1M chart > M-Signal on the 1W chart > M-Signal on the 1D chart.
Since the StochRSI indicator has entered the oversold section, if it rises, the key is whether it can meet resistance near the M-Signal on the 1D chart.
In order for the coin market to start an upward trend, it is expected that the USDT dominance will have to fall below 4.97 and be maintained.
-------------------------------------
(BTCUSDT 1D chart)
In fact, even if the current price position, that is, 63118.62-64000.0, is supported and rises, I don't think it's a good idea to make new purchases.
From the perspective of a breakout trader, it is a position worth challenging, but it is a position that requires a quick response and decision.
StochRSI has not yet initialized.
Therefore, it is showing that it is not strange for a decline to occur at any time.
I have talked about the entry point to start trading several times, so I will not talk about it here.
-
If it is supported and rises near 63118.62-64000.0, it is highly likely to turn downward while touching near 65920.71-67614.25.
However, if StochRSI is initialized, it may show an upward trend as it continues to a new trend.
Therefore, what is important to look at now is how to initialize StochRSI.
Initializing StochRSI means that if StochRSI has entered the overbought zone, it must touch the oversold zone.
This initialization does not necessarily mean that it will lead to a large decline.
Therefore, it means that StochRSI may be initialized while showing support near 63118.62.
-
Therefore, the area near 61099.25 is an important support and resistance zone.
This is because the M-Signal of the 1D, 1W chart is currently passing by and the BW line is formed.
Therefore, the entry area is around 61099.25, that is, when it shows support near the BW line or the M-Signal of the 1D, 1W chart.
-
This volatility period is until September 29.
The next volatility period is around October 11.
Therefore, the point of interest is what kind of channel (rising channel or falling channel) the currently drawn trend line will create in the 'X'.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that a full-scale uptrend will begin when it rises above 29K.
The area 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 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
-----------------
Note
The DMI+OBV indicator currently included in the idea is incorrect.
We have confirmed that the DMI indicator formula is missing in the DMI+OBV indicator.
Accordingly, the properly corrected indicator will be applied starting tomorrow.
Sorry for the confusion.
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Chart with DMI+OBV applied normally
Note
The BW indicator is forming a horizontal line at the highest point (100), indicating that a high point has been formed.
The DMI+OBV indicator shows the strength of the current trend.
Therefore, we can see that the strength needed to maintain the current trend, i.e. the uptrend, is weakening.
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