readCrypto

If a short-term price adjustment occurs...

BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello traders!

If you "Follow" us, you can always get new information quickly.
Please also click “Boost”.
Have a good day.

-------------------------------------

(BTCUSDT 1D chart)
The upper line of the Price Channel indicator was created on February 17th, confirming the high point.

Accordingly, the possibility of a short-term price adjustment is increasing.


As the decline progresses, a new HA-High indicator appears to be being created.

Accordingly, if the HA-High indicator is generated around 50862.10, I think it is important to see whether it receives support or resistance around this area.


The difference between the 5EMA line and the HA 5EMA line is the source value.

5EMA: Closing price
HA 5EMA: (Heikin Ashi’s closing price + Heikin Ashi’s opening price) / 2

Therefore, from a short-term trading perspective, it is highly likely that the upward trend will be maintained if 5EMA > HA 5EMA is maintained.


There is a possibility that the section consisting of the 5EMA, HA 5EMA, and HA-High indicators may become a support section.

If there is no support in this area, it is expected to touch the MA-Signal indicator, that is, near the M-Signal indicator on the 1D chart.


Ultimately, in order to continue the upward trend, the upper point of the Price Channel indicator must be broken upward, so the final support point can be said to be near the upper point of the Price Channel indicator.


(1W chart)
Since the upper line of the Price Channel indicator on the 1W chart is not currently visible on the candle, you can see that the high point has not yet been confirmed.

Accordingly, even if there is a short-term price adjustment in the 1D chart, the decline is expected to be small.

However, you should check whether the upper line of the Price Channel indicator is displayed when next week's candle is created.


The area expected to be a resistance area is around 53256.64-59370.07.


(1M charts)
This flow is expected to proceed in the direction of the arrow.

The support zone is expected to be around the Fibonacci ratio point of 0.618 (44234.54).


Therefore, the maximum range of short-term price adjustment is expected to be around 44200.0-47600.0 as the support range.

---------------------------------

Since I will be traveling from February 19-21, my next publish will be on February 22nd.

Please check the movement until this volatility period (February 21st) and find a purchase point for the coin (token) to proceed with the transaction.

Have a good time.
thank you

--------------------------------------------------

- The big picture
The full-fledged upward trend is expected to begin when the price rises above 29K.

This is the section expected to be touched in the next bull market, 81K-95K.


#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 13401.28
151166.97-157451.83 (when overshooting)
5th: 178910.15

These are points that are likely to encounter resistance in the future.
We need to see if we can break through these points upward.

Since it is thought that a new trend can be created in the overshooting zone, you should check the movement when this zone is touched.


If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern.
1st: 43833.05
2nd: 32992.55

-----------------

[Example of exchange chart setup]

(Binance)
www.tradingview.com/x/S94aDxa8

(Upbit)
www.tradingview.com/x/DF6cGh3G/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.