The point of interest is whether BTC.D can fall below 55.01
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(BTC.D 1D chart)
If it falls below 55.01 this time and fails to maintain, it is possible that it will touch the MS-Signal indicator.
Since the BTC dominance is rising, it means that funds are concentrated toward BTC, so altcoins are likely to move sideways or show a downward trend.
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(USDT.D 1D chart)
As USDT dominance falls below 4.97, it can be seen that the coin market has started an upward trend.
Therefore, in this upward trend, USDT dominance is expected to fall to around 2.84.
We can see that support and resistance points are concentrated in the 3.92-4.31 range of USDT dominance.
Therefore, the point of observation is whether it can meet resistance in this range and continue the downward trend.
If USDT dominance touches around 2.84 and rises or rises above 4.97, the coin market is expected to show a sharp decline.
If it rises above 4.97, the coin market is likely to be in a downward trend.
If it touches around 2.84 and rises, I think the coin market is likely to show a movement to form a high range.
Therefore, it is expected to form a high point while shaking up and down and start a downtrend.
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1W chart will be updated after a new candle is created.
(BTCUSDT 1D chart)
The key is whether it can receive support and rise near the important support and resistance area of 95904.28-98892.0.
If it falls below the important support and resistance area, it is likely to touch the M-Signal indicator on the 1W chart.
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If the price maintains near the 95904.28-98892.0 area during the period for the StochRSI indicator to reset, it is expected to start an uptrend to rise above the Fibonacci ratio of 2.24 (116940.43).
Accordingly, the point of interest is whether the price can be maintained around the 95904.28-98892.0 range until the next volatility period, around December 27th.
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The HA-Low indicator on the 1D chart is formed at the 56204.13 point.
If the HA-Low indicator on the 1D chart is generated when the decline proceeds below the 95904.28-98892.0 range this time, I think the key point will be whether there is support around that area.
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Whether ETH can renew the ATH when moving sideways until the next volatility period of BTC is also a point of interest.
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Have a good time.
Thank you.
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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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