The key to interpreting indicators is support and resistanceHello traders!
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(BNBUSDT 1M chart)
If the price holds above 0.618 (528.6), the upward trend is expected to continue.
When the candle closes around 0.618 (528.6), you should check whether a new HA-High indicator is created.
Also, you should check if the StochRSI indicator switches to a bearish indicator.
If it falls below 0.618 (528.6) and shows resistance, it is likely to fall to around 427.2.
Accordingly, if it falls below 511.4, it is recommended to sell part of it to prepare funds to respond to the decline.
(1W chart)
The box section of the HA-HIgh indicator covers a fairly large range (211.7-669.3).
Accordingly, the key is whether it can receive support and rise in the 533.9-645.2 section, which is the upper section of the box of the HA-High indicator on the 1M chart.
However, since a psychological volume profile section is formed over the 573.0-649.5 section, the upward trend is expected to continue only when it rises above this section.
Therefore, if it falls below the 511.4-533.9 range,
1st: 427.2
2nd: 320.9-332.4
You need to check if you receive support around the 1st and 2nd levels above.
However, since the M-Signal (MS-Signal) indicator on the 1W chart is passing around 0.5 (466.3), it is important whether it can be supported and rise around 427.3-466.3.
The StochRSI indicator shows a decline below the midpoint.
We need to see if the StochRSI indicator can turn upward.
(1D chart)
The key is whether the price can be maintained by rising above 588.9.
If the price remains above the M-Signal (MS-Signal) indicator on the 1D chart, it is time to buy.
Therefore, the current section corresponds to the buying period.
If it falls below 555.8, it may lead to a further decline, so you need to think about a response plan.
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What I wanted to talk about in the BNBUSDT chart is the flow of the BW indicator and StochRSI indicator.
The BW indicator is
- 1M chart: Located at the highest point of the overbought zone
- 1W chart: Located in overbought zone
- 1D chart: Located in oversold area
The StochRSI indicator is
- 1M chart: Located in overbought zone
- 1W chart: falling below the midpoint
- 1D chart: About to rise into the overbought zone
As shown above, the positions where they are formed are different.
Therefore, I think it is highly likely that the shaking will continue to show the flow in the same location and direction.
In this case, what is important is how long you have been trading this coin.
Depending on the period during which the transaction was carried out
- Short-term perspective: Respond to the trend on the 1D chart
- Mid- to long-term perspective: Respond to the trend of the 1W chart
- Long-term perspective: Respond to the trend of the 1M chart
As shown above, you need to look at which chart to create a trading strategy.
However, I think the 1W chart is usually the chart that expresses the overall trend well.
Therefore, I think the 1W chart is most appropriate when analyzing trends.
The movements of the BW indicator and StochRSI indicator on the 1M chart are quite slow.
Therefore, it is difficult to refer to the BW indicator and StochRSI indicator on the 1M chart when trading.
However, when a new candle is created, it is possible to roughly know what it will look like in the future based on changes in the BW indicator and StochRSI indicator.
The fact that the BW indicator is located at the highest point of the overbought range also means that the likelihood of a future decline increases.
Therefore, from a long-term perspective, it is necessary to respond to declines.
The BW indicator on the 1W chart is located in the overbought section, and the StochRSI indicator shows a decline below the mid-price point.
Accordingly, you need to check for support and resistance points near the current price and think about how to respond.
The HA-High indicator on the 1W chart appears to be newly created at the 555.8 point.
If the HA-High indicator on the 1W chart is created at the 555.8 point, you need to check whether it can be supported and rise around that area.
The creation of the HA-High indicator means that a high point has been formed.
Therefore, it means that the 555.8 point corresponds to the high point.
Since the previous HA-High indicator point was 522.0, it is highly likely that the high point will be renewed only if it is supported and rises around 522.0-555.8.
If it fails to do so and falls, it will basically fall near the HA-Low indicator.
However, it is not easy to meet the HA-Low indicator because it is highly likely that support and resistance points have been formed until the HA-Low indicator is met.
A representative indicator is the MS-Signal indicator.
The BW indicator on the 1D chart is located in the oversold zone, and the StochRSI indicator is showing signs of entering the overbought zone.
If the BW indicator shows an upward trend when a new candle is created, it is likely to lead to a further rise.
Otherwise, if a horizontal line is created in an overbought area, you must respond depending on whether there is support at that horizontal line point.
When the StochRSI indicator rises into the overbought zone, it means that the strength of the rise is strong.
Therefore, it is likely to rise.
Therefore, if the BW indicator also shows an upward trend when the StochRSI indicator shows a strong upward trend, it means that there is a high possibility that the price will rise from the support and resistance points of the current price.
At the current price position, the support zone is the MS-Signal indicator and the resistance zone is the HA-High indicator.
If this is expressed numerically, it falls within the range 555.8-588.9.
Indicators depicted on charts are likely to be lagging.
Therefore, in order to check these lagging indicators, there must be support and resistance points drawn on the 1M, 1W, and 1D charts.
Otherwise, you need to be careful as there is a possibility of big losses due to a slow response.
When using an indicator, it must be interpreted in accordance with the core interpretation method of the indicator.
If you try to interpret it by including additional transaction methods, you should avoid it as it may lead to transactions taking place in the wrong direction.
Have a good time.
thank you
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- The big picture
The full-fledged upward trend is expected to begin when the price rises above 29K.
This is the section expected to be touched in the next bull market, 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 that are likely to encounter resistance in the future.
We need to see if we can break through these points upward.
Since it is thought that a new trend can be created in the overshooting zone, you should check the movement when this zone is touched.
#BTCUSD 1M
If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern.
1st: 43833.05
2nd: 32992.55
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