(Prev. FTM) Support and Resistance Zone: 0.4126-0.4930

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(SUSDT 1D Chart)


FTM Coin (Token) has been changed to Sonic Coin (Token).

Since the chart was newly created on January 16, the support and resistance role may be weak, so be careful when trading.

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(12h chart)

Since the indicator has not been created yet on the 1D chart, support and resistance points are not displayed, so the 12h chart was used.

The point of interest is whether it can rise above the Fibonacci ratio of 0.236 (0.5815) ~ 0 (0.6565).

To do so, it is important to see whether it can receive support near the BW (0) indicator point of 0.4126 and rise above 0.4930.

If it falls below 0.4126, it is likely to fall to around the Fibonacci ratio of 1 (0.3385).

Therefore, if it shows support in the low boundary zone of 0.4126-0.4930, it is a time to buy.

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The MS-Signal indicator is an indicator that can tell the trend.

Therefore, if the price stays above the MS-Signal indicator, there is a high possibility that it will turn into an uptrend.

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

In other words, 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)

Looking at the LOG chart, you can see that 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, it is expected that prices below 44K-48K will not be seen 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, it is expected that this Fibonacci ratio will 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 this.

If the ATH is renewed, there are no support and resistance points, so the Fibonacci ratio can be appropriately utilized.

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

The reason is that the user must directly select the important selection points required to generate 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 to use it for 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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