Things to check when trading altcoinsHello, traders.
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I think it's good to check the upward turn on the Renko chart to trade altcoins.
Therefore, in the short term, if the price is maintained above 4.9, it can be interpreted that there is a high possibility of an upward trend.
Accordingly, I think it's good to trade from a short-term trading perspective in the current upward trend.
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(NEARUSDT 1D chart)
Usually, coins (tokens) that are currently thought to have risen are likely to have already touched the HA-Low indicator and risen.
Therefore, the StochRSI indicator will mostly be in the overbought zone.
In this situation, if you feel like you have to buy now, you should be able to wait for that time to be the peak.
When the bottom zone, low zone, and rise are formed, it is more likely to create a 'W' pattern (double bottom pattern) or higher than the 'V'-shaped uptrend and rise.
Therefore, in order to gain additional upward momentum, it is essential to create a pull back pattern and rise.
Therefore, if you want to buy now, it is recommended to confirm that a pull back pattern is created and enter.
On the NEARUSDT chart, the M-Signal indicator of the 1D and 1W charts is passing around 4.675, so if a pull back pattern is created, I think that this area is likely to become the bottom zone.
Therefore, you should check how the StochRSI indicator is initialized, and when it is initialized, check whether there is support at the support and resistance points at that point and proceed with the transaction.
When rising
1st: 5.947
2nd: 7.008-7.369
You need to check for support near the 1st and 2nd above.
Among these, the section that can be converted to a mid- to long-term transaction is the 2nd section.
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When purchasing, you need to make an effort to make the lowest average price possible by conducting a split transaction.
Otherwise, if you try to solve everything with a single purchase, you need to be able to wait as much as possible and be decisive.
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Have a good time.
Thank you.
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- Big picture
It is expected that a full-scale upward trend will begin when it rises above 29K.
The section that is 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: 134018.28
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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