Whether it can rise above 3265.0-3321.30 is the key

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(ETHUSDT 1D chart)

What we should be interested in is whether it can rise above 3265.0-3321.30.

Also, since the StochRSI indicator seems to have touched the oversold zone, whether it can receive support near 3039.57 is also the key.

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If it falls below 3039.57,
1st: 2895.47
2nd: 2666.70
We need to check if it can be supported near the 1st and 2nd above.

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If it rises above 3265.0-3321.30, I think it is highly likely that the upward trend will continue to renew the ATH.

However, it is expected that the first hurdle will be whether it can break through the 3438.16-3644.71 range.

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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 that it has been maintaining an upward trend following a pattern since 2015.

That is, it is a pattern that maintains a 3-year uptrend and faces a 1-year downtrend.

Accordingly, the uptrend is expected to continue until 2025.

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(LOG chart)

As you can see from the LOG chart, the uptrend 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 expect that we will not 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.

In other words, it 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.

How to view and respond to this is up to you.

When the ATH is updated, there are no support and resistance points, so the Fibonacci ratio can be used appropriately.

However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous when used as support and resistance.

This is because the user must directly select the important selection points required to create Fibonacci.

Therefore, since it is expressed differently depending on how the user specifies the selection points, it can be useful for chart analysis, but it can be seen as ambiguous when used for trading strategies.

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

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#ETHUSDT 1D

ETH feels strangely pressed down.

If it breaks above 3321.30, it is expected to lead to a big rise.

And for that
1st: 3039.57
2nd: 2895.47
It should be supported near the 1st and 2nd above and rise.