Important Turning Point: M-Signal Indicator on 1M Chart
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(ETHUSDT 1M Chart)
The key is whether the price can rise above the M-Signal Indicator on 1M Chart and hold it.
Accordingly, we need to see if it can rise with support near 2498.60, which is the 20 point of StochRSI.
If not, and it falls, we need to see if the HA-Low indicator is generated.
If the HA-Low indicator is generated, we can create a trading strategy based on whether there is support near that area.
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(1D chart)
The key is whether it can rise with support near the M-Signal indicator on the 1D chart.
In other words, we need to see if it can rise with support near 2498.60-2609.74.
If not, it is expected to fall to the M-Signal indicator on the 1W chart and determine the trend again.
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The current important support area is the 1647.06-1861.57 area.
The resistance zone is 3265.0-3321.30.
However, if the HA-Low indicator is newly created as the price falls, it is important to see if there is support around that area.
In any case, the price must be maintained above the M-Signal indicator on the 1M chart to continue the upward trend in the medium to long term.
Therefore, when it falls below the M-Signal indicator on the 1M chart, you should not forget that a short and quick response is required when trading.
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Thank you for reading to the end.
I hope you have a successful trade.
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- This is an explanation of the big picture.
(3-year bull market, 1-year bear market pattern)
I will explain more details when the bear market starts.
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