The key is whether it can be supported near 145.32
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(SOLUSDT.P 1M chart)
It seems that a sharp decline will occur due to the issue of SOL.
The key is whether it can be supported near 0.707(135.64) ~ 0.786(149.71), 137.04 and rise.
If it rises, whether it can be supported near 179.73 is important.
If it falls, it is likely to fall to around 101.78, so you should think about a countermeasure for this.
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(1D chart)
If the HA-Low indicator on the 1D chart is generated at the 145.32 point, the key is whether it can receive support and rise around this area.
If not, and it falls below 137.04,
1st: Fibonacci ratio 0.618 (119.78)
2nd: 101.78
You should check whether there is support around the 1st and 2nd areas above.
Circle marked area: Important support and resistance area
(Circle marked area: Important support and resistance area)
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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 following a pattern since 2015.
In other words, it is a pattern that maintains a 3-year bull market and faces a 1-year bear market.
Accordingly, the bull market is expected to continue until 2025.
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(LOG chart)
Looking at the LOG chart, we can see that the increase 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 do not expect to 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.
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.
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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
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