The key is whether it can rise above 2706.15-2879.90
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(ETHUSDT 1M chart)
As it falls below 2706.15, the possibility of a downward trend is increasing.
Accordingly, the key is whether it can receive support near 2513.01-2706.15 and rise above the MS-Signal (M-Signal on the 1M chart) indicator.
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(1D chart)
Therefore, the key is whether it can be supported around 2316.10-2513.01 and rise above 2706.15-2879.90.
The next volatility period is around February 16, which is the same as the volatility period of BTC.
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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 to have been maintaining an upward trend 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 upward trend is expected to continue until 2025.
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(LOG chart)
As you can see from the LOG chart, the upward trend 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 upward trend that started in 2015.
In other words, it is the Fibonacci ratio of the first wave of the upward wave.
The Fibonacci ratio on the right is the Fibonacci ratio of the upward trend 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 to decide how to view and respond to this.
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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