The key is whether the MS-Signal indicator can rise above it
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(ETHUSDT Renko 1D chart)
We need to check whether the price can be maintained above 2400.0 and whether it can rise above 2600.0 to create an upward block.
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(ETHUSDT 1D chart)
The key is whether the MS-Signal (M-Signal on the 1D chart) indicator can rise above and maintain the price.
Unlike BTC, ETHUSDT is not yet above the MS-Signal (M-Signal on the 1D chart) indicator.
In order to turn into a short-term uptrend, the price must rise above 2531.05-2621.99 and maintain the price.
If not, we need to check for support near 2359.35.
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I think the StochRSI indicator is currently forming a high point because the slope has changed in the overbought zone.
Therefore, the 2531.05-2621.99 zone is an important support and resistance zone.
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Once you start studying charts and become familiar with them, trend lines are virtually unnecessary.
However, since understanding the HA-MS indicator is necessary, I drew trend lines to help you understand the chart.
This can actually be a hindrance to looking at the chart.
If you are looking at my charts for the first time, the most important thing is the MS-Signal indicator, which is the arrangement of the M-Signal line, which is the main line of the MS-Signal indicator on the 1M, 1W, and 1D charts.
This is how you can predict the trend.
The next important thing is related to the HA-Low and HA-High indicators.
That is, you will trade based on the movement in the box section of the HA-Low and HA-High indicators.
The other lines are lines that represent the support and resistance lines drawn on the 1M, 1W, and 1D charts and the volume profile section.
Therefore, if you want to know the trend through chart analysis, you can check the location of the M-Signal indicator on the 1M, 1W, and 1D charts corresponding to the MS-Signal indicator.
If you want to trade, you can create a trading strategy by referring to the points made up of the HA-Low and HA-High indicators or the support and resistance points drawn on the 1M, 1W, and 1D charts.
If you only display the support and resistance points by key indicators, it is like the chart above.
You can trade with this alone, but I think it is likely that you will have difficulty trading because you cannot create a response strategy according to price fluctuations.
What you want to inform through chart analysis is that only the person who analyzed it can properly understand the content.
Therefore, how you accept the content analyzed by others will vary depending on each person's investment style.
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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 (when overshooting)
4th: 13401.28
151166.97-157451.83 (when 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.
Since I think it can create a new trend in the overshooting section, I need to check the movement when this section is touched.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to create a pull back pattern and start after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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