Support around 1.3814 is the key
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(ONDOUSDT.P 1D chart)
This volatility period is expected to continue from February 7th to 9th.
It has touched the Fibonacci ratio range of 0.236 (0.8416) ~ 0.382 (1.0298) and is rising.
Currently, the key is whether it can be supported near the MS-Signal (M-Signal on the 1D chart) indicator, near 1.3814.
If it is supported, it is expected to rise above the BW (100) indicator point of 1.4869.
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If it is supported near 1.1255-1.2715, it is a time to buy.
If it falls below this range, you should check for support near 0.9274.
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(1M chart)
The chart has not been created for long, so the indicator has not been formed yet.
However, if it is supported and rises around 0.5(1.1818) ~ 0.618(1.339) in terms of Fibonacci ratio,
1st: 1(1.8263)
2nd: 1.618(2.6228)
3rd: 1.902(2.9889) ~ 2(3.1152)
You should respond depending on whether there is support around the 1st-3rd above.
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Thank you for reading to the end.
I hope you have a successful trade.
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- Big picture
I used TradingView's INDEX chart to check the entire range of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been maintaining an upward trend following a pattern since 2015.
That is, it is a pattern that maintains a 3-year uptrend and faces a 1-year downtrend.
Accordingly, the uptrend is expected to continue until 2025.
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(LOG chart)
As you can see from the LOG chart, the uptrend is decreasing.
Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.
Therefore, we expect that we will not see prices below 44K-48K in the future.
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The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.
In other words, it is the Fibonacci ratio of the first wave of the uptrend.
The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019.
Therefore, this Fibonacci ratio is expected to be used until 2026.
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No matter what anyone says, the chart has already been created and is already moving.
How to view and respond to this is up to you.
When the ATH is updated, there are no support and resistance points, so the Fibonacci ratio can be used appropriately.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous when used as support and resistance.
This is because the user must directly select the important selection points required to create Fibonacci.
Therefore, since it is expressed differently depending on how the user specifies the selection points, it can be useful for chart analysis, but it can be seen as ambiguous when used for trading strategies.
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
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Other content (coins, stocks, etc.) is frequently posted on X.
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◆ t.me/readCryptoChannel
X에 다른 내용(코인, 주식 등)이 자주 게시됩니다.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.