The key is whether it can rise above the 1st section
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(BTCUSDT 1W chart)
When a new candle is created, you should check whether there is support near 68393.48.
And you should also check what movement the StochRSI indicator will show.
From the current position, the important support and resistance sections are
- 68393.48-71280.01
- 65602.01-65920.0
- 61099.25
The three sections above.
If the price is maintained above the HA-HIgh indicator, a full-scale uptrend (stepwise uptrend) is likely to begin.
However, it is important how the BW (100) indicator section, 68393.48-71280.01 section, is broken upward.
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(1D chart)
Therefore, the key is whether the price can be maintained by breaking upward through the first section, 68393.48-69031.99 section.
If not, you should check for support near 65920.71-67414.39.
Since the HA-High indicator on the 1D chart is formed at the 67414.39 point, the point to watch is whether it can receive support near 67414.39 and rise.
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The StochRSI indicator is showing signs of turning upward.
However, it has not yet risen from the overbought zone, and StochRSI < StochRSI EMA.
Therefore, when a new candle is created, you should check how the StochRSI indicator appears.
When the StochRSI indicator falls below 50, the decline is interpreted as a strong decline, but eventually you will find the time to buy.
Therefore, when the StochRSI indicator is below 50, it is recommended to create a trading strategy from a buy (LONG) perspective.
If you trade from a sell (SHORT) perspective, you need to respond quickly and briefly.
The StochRSI indicator is not an all-purpose indicator, but it allows you to know the timing of response and the intensity of the wave to some extent.
Therefore, if you use the StochRSI indicator, you will have less conflict about whether to go up or down right now.
In addition, since you are more likely to trade in the direction of the trend, you will be able to reduce the number of times you cut your loss.
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Due to the changes in the chart, the next volatility period is likely to start around November 4th.
So, let's check the overall flow when the new month starts.
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If you use the Linear Regression Channel indicator in TradingView indicators, it will automatically draw a parallel channel according to the current price position.
You can set the indicator settings to suit you.
However, the recommended settings are 50 (Length), ohlc4 (Source).
I think that chart tools such as trend lines, channels, and Fibonacci are tools for chart analysis.
Therefore, I do not recommend using chart tools to create trading strategies.
In order to create a trading strategy, you must have support and resistance points drawn on the 1M, 1W, and 1D charts.
If you have drawn support and resistance points, you can create a trading strategy by checking whether there is support at the support and resistance points by referring to the analysis with the chart tool.
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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 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 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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Note
#BTCUSDT.P 1h
I want to ignore it, but I have to admit that there is a high possibility of volatility if it touches the 5EMA on the 1D chart and the M-Signal on the 1M, 1W, and 1D charts.
Therefore, when you don't know when to start day trading, it is better to check if you can start trading at the support and resistance points drawn near the 1M, 1W, and 1D charts when the 5EMA on the 1D chart and the M-Signal on the 1M, 1W, and 1D charts are touched.
Note
I think that the idea of how to determine the tradable point is the idea that will ultimately improve your trading skills, rather than the idea of receiving the tradable point.
It is also important to find an idea that fits your investment style.
No matter how good the analysis idea is, if it does not fit your investment style, you will have difficulty in conducting the transaction.
Therefore, it is most important to first understand what your investment style is.
Note
#BTCUSDT 1W
If we analyze the chart using the Linear Regresion Channel indicator mentioned in the main text, we can see that we need to check whether it will rise along the middle trend line.
Accordingly, we can see that the 68393.48 point is an important support and resistance point.
The StochRSI indicator is showing an upward trend again.
However, since the StochRSI indicator has entered the overbought zone, it will eventually show a downward trend over time.
Therefore, I think it is better to focus on finding the time to sell.
(1D chart)
Focusing on finding the time to sell on the 1W chart is a short-term perspective.
However, from a short-term perspective, there is a possibility of further increase.
This additional increase is likely to be maintained if it is supported near 67414.39.
#BTCUSDT.P 1D
If you bought (LONG) near 65568.1-65922.3, I think it would be better to liquidate it when it falls below 66662.8 and check the situation thereafter.
Since the BW indicator is at the 50 point, there is a high possibility of volatility.
Therefore, there is a possibility of up and down fluctuations, so caution is required when trading.
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