Support near Fibonacci ratio 2.618 is the key
Hello, traders.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a nice day today.
-------------------------------------
(1D chart)
The chart is broken due to the rapid rise.
Please refer to the Fibonacci ratio that can be seen in the current upward wave.
Since the StochRSI indicator has touched the highest point in the overbought zone, even if it rises further, the Fibonacci ratio 2.618 (0.484488) is expected to be the high point.
If the decline begins,
1st: Fibonacci ratio 1.902 (0.379635) ~ 2 (0.393986)
2nd: 1.618 (0.338045)
3rd: 0.288000
You should check whether there is support among the 1st-3rd areas above.
The important thing in the decline is whether it can touch the MS-Signal (M-Signal on the 1D chart) indicator and rise.
-
Thank you for reading to the end.
I hope you have a successful trade.
--------------------------------------------------
- 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.
In other words, it is a pattern that maintains a 3-year upward trend and faces a 1-year downward trend.
Accordingly, the upward trend is expected to continue until 2025.
-
(LOG chart)
Looking at the LOG chart, you can see that the upward trend is decreasing.
Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.
Therefore, I expect that we will not see prices below 44K-48K in the future.
-
The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.
That 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.
-
No matter what anyone says, the chart has already been created and is already moving.
It is up to you how to view and respond to it.
Since there is no support or resistance point when the ATH is updated, the Fibonacci ratio can be appropriately utilized.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as a support and resistance role.
The reason is that the user must directly select the important selection points required to create the Fibonacci.
Therefore, it can be useful for chart analysis because it is expressed differently depending on how the user specifies the selection point, but it can be seen as ambiguous for use in trading strategies.
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
-----------------
