To turn into a short-term uptrend, it needs to rise above 34.18
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Let's check out the chart with the highest trading volume among the released BTC ETF products.
(IBIT 1M chart)
However, since the chart has just been created, the role of the indicated support and resistance points may be weak, so caution is required.
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(1W chart)
The point where the volume profile section is formed on the current chart is 38.14.
Therefore, it is expected that the uptrend will begin only when it rises above the volume profile section.
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(1D chart)
The key is whether it can maintain the price by receiving support and resistance formed at the 32.70 point and rising above 34.18 (if possible, Fibonacci ratio 0.618 (34.68)).
Therefore, it is necessary to check whether it can break through the psychological volume profile section of the first gate, 32.85-33.41 section.
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From a trend perspective, it is necessary to break away from the downtrend line (1) in order to turn into an uptrend.
Accordingly, it is necessary to check whether it can lead to a movement to change the state from M-Signal on the 1D chart > M-Signal on the 1W chart.
If it fails to turn, you should check for support around 23.99-26.03.
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Based on the current price position, it is expected that a full-scale uptrend will begin when it rises above the HA-High indicator (39.87) on the 1D chart.
Since the HA-Low indicator on the 1D chart has not been created yet on the current chart, if it starts to fall below 32.67, it seems likely that the HA-Low indicator will be created.
If the HA-Low indicator is created, the key point is whether there is support around that area.
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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 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: 13401.28
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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