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The key is whether the M-Signal indicator on the 1M chart can rise above and maintain the price.
To do so, we need to check whether it can rise along the rising trend line during the volatility period starting around the week of August 19.
If not, and it falls below 2531.05, there is a possibility that it will fall again to around 2159.0, so we need to think about a countermeasure for this.
- Currently, the StochRSI indicator has entered the oversold zone and is maintaining the status of StochRSI < StochRSI EMA.
Therefore, it is important to see if it can be supported around the 2531.05 ~ 0.382 (2647.88) section.
Therefore, it is recommended to proceed with a purchase when the StochRSI indicator is out of the oversold section and StochRSI > StochRSI EMA.
However, since the current chart is a 1W chart, it is possible that it has shown a lot of increase when the above situation occurs.
Therefore, you should check whether there is support in the section (2531.05 ~ 0.382 (2647.88)) and see if you can proceed with a split purchase.
- If you compare the current flow with the past flow, it seems to be showing a movement corresponding to around May 9, 2022.
However, the current situation is a bit different from that time.
When it was around May 9, 2022, there was a decline in USDT, but currently, USDT is showing an increase.
Therefore, I think it is showing a different flow than before in that it is time to find a time to buy even if it falls further than the current price, not a time to find a time to cut losses.
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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