Support and resistance zone: 0.016987-0.017858
Hello, traders.
If you "Follow", you can always get new information quickly.
Have a nice day today.
-------------------------------------
(1000SHIBUSDT.P 1W chart)
The key is whether the M-Signal indicator on the 1M chart can rise above and maintain the price.
If the price rises above the important zone of 0.021175-0.026744 and maintains, the uptrend is likely to begin.
If it fails to rise, you should check for support near 0.008763.
-
(1D chart)
In order to maintain the price above the M-Signal indicator of the 1M chart, it is important to see if it can rise to the vicinity of 0.016987-0.017858 and receive support.
Since the volume profile section is formed at the point of 0.021175, it is important to see if it can receive support in this section.
If it fails to rise, it is necessary to check for support in the vicinity of 0.012618-0.013489.
-
Since the StochRSI indicator has entered the overbought section, it is expected that the rise will be limited even if it continues to rise further.
Therefore, it is recommended to first check for support in the vicinity of 0.016987-0.017858.
-
Thank you for reading to the end.
I wish you successful trading.
--------------------------------------------------
- Explanation of the big picture.
I used TradingView's INDEX chart to check the entire range of BTC.
I rewrote it to update the previous chart by touching the Fibonacci ratio range of 1.902 (101875.70) ~ 2 (106275.10).
(Previous BTCUSD 12M chart)
Looking at the big picture, it seems to have been maintaining an upward trend following a pattern since 2015.
In other words, it is a pattern that maintains a 3-year upward trend and faces a 1-year downward trend.
Accordingly, the upward trend is expected to continue until 2025.
-
(Current BTCUSD 12M chart)
Based on the currently written Fibonacci ratio, it is displayed up to 3.618 (178910.15).
It is expected that it will not fall again below the Fibonacci ratio of 0.618 (44234.54).
(BTCUSDT 12M chart)
Based on the BTCUSDT chart, I think it is around 42283.58.
-
I will explain it again with the BTCUSD chart.
The Fibonacci ratio ranges marked in the green boxes, 1.902 (101875.70) ~ 2 (106275.10) and 3 (151166.97) ~ 3.14 (157451.83), are expected to be important support and resistance ranges.
In other words, it seems likely that they will act as volume profile ranges.
Therefore, in order to break through these ranges upward, I think the point to watch is whether they can receive support and rise near the Fibonacci ratios of 1.618 (89126.41) and 2.618 (134018.28).
Therefore, the maximum rising range in 2025 is expected to be the 3 (151166.97) ~ 3.14 (157451.83) range.
In order to do that, we need to see if it is supported and rises near 2.618 (134018.28).
If it falls after the bull market in 2025, we don't know how far it will fall, but based on the previous decline, we expect it to fall by about -60% to -70%.
Therefore, if it starts to fall near the Fibonacci ratio 3.14 (157451.83), it seems likely that it will fall to around Fibonacci 0.618 (44234.54).
I will explain more details when the bear market starts.
------------------------------------------------------
