Important support and resistance zones touched
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ETH has touched an important support zone.
Therefore, the key is whether it can receive support near 2159.0.
If it falls below 2159.0, you should check whether there is support near 1605.23-1783.0.
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- Big picture
The real uptrend is expected to start 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: 13401.28
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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Note
If you look at the Renko chart, the 2400.0 point is an important point.
Accordingly, we need to check whether the price can be maintained by rising above the HA-Low indicator point of 2359.35 on the newly created 1D chart.
The key is whether the MS-Signal indicator (M-Signal on the 1D chart) can be broken upward.
However, in order to switch to a mid- to long-term uptrend, it is expected that the price must be maintained by rising above the M-Signal indicator on the 1W chart.
If you look at the 1M chart, it is important to see whether it can be supported near the Fibonacci ratio of 0.236 (2090.85).
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