Positioning within a long-term downtrend channel
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(BTCUSDT chart)
(1M chart)
The StochRSI indicator is starting to show signs of declining.
However, since it is still in the overbought zone, it can be seen that the uptrend is strong.
Therefore, it is necessary to check whether the StochRSI indicator leads to the appearance of getting out of the overbought zone.
In any case, a new trend line was formed as the StochRSI indicator gave a bearish indication.
Since this trend line formed a down channel, the question is whether it can break out of this down channel.
The HA-High indicator on the 1M chart is still located at 43823.59.
It can be said that conditions have been created to continue the upward trend on the 1M chart only when it rises above the HA-High indicator.
Therefore, it is expected that it will rise above the current HA-High indicator or shake up and down to cause the HA-High indicator to fall.
From a trend point of view, it is located near the MS-Signal indicator, so if it shows support near the MS-Signal indicator, there is a possibility of an uptrend.
Therefore, it can be interpreted that although a new movement has been detected on the 1M chart, it is still unknown in which direction it will move.
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(1W chart)
You can know a little more direction than the 1M chart.
The StochRSI indicator is showing a transition from an oversold zone to an uptrend.
However, since the price has yet to break out of the oversold zone, it can be seen that the decline is strong.
Therefore, when the StochRSI indicator breaks out of the oversold zone, it is important whether it finds support or resistance at any point or zone.
Currently, the 26574.53 point is an important support and resistance point.
At this point, the HA-High indicator of the 1W chart is formed.
Therefore, if you see support in the 26574.53-27590.60 section, it is expected to show an upward trend.
Therefore, even if a downtrend channel is formed on the 1M chart, if it finds support around 26574.53 and rises or moves sideways, it is expected to lead to a move away from the downtrend channel on the 1M chart.
If it rises to 27590.60 and makes an upward move, it is likely to see a move towards 32259.90.
Therefore, the 26574.53-27590.60 range is an aggressive buy range.
However, if it falls below 26574.53 and shows resistance, you should be able to stop loss.
If it falls below 26574.53, there is a possibility of a decline around 20862.47-23141.57.
These zones correspond to the support and resistance points on the 1M and 1W charts.
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(1D chart)
During the short-term volatility period, it touches around 26574.53 and shows an upward movement.
However, if the price fails to maintain the price by rising above the newly formed downtrend line, above 27496.02, it is expected that it will eventually fall below 26013.28, leading to a sharp decline.
Therefore, the key is whether it can receive support around 27079.41, the point of the HA-Low indicator on the 1D chart, and rise above 27496.02.
Even if it rises above the 27496.02 point, a quick response is required because a volume profile section is formed across the 28465.36-28923.63 section.
Therefore, aggressive buying is recommended when the price shows support in the 26574.53-27496.02 section.
This is because if you buy after seeing support above 27496.02, you may encounter resistance and decline in the volume profile section formed right above it.
Therefore, there is a possibility of receiving resistance and falling in the volume profile section and receiving support around 27496.02 and rising, so you may experience an increase when you make a stop loss.
Therefore, it is not recommended to buy aggressively if you are not familiar with day trading because it is an area where you need to make a decision more quickly.
With the creation of a new downtrend line on the 1M chart, we expect a period of full-scale volatility to run around June 12-18.
Over this period of volatility, we need to see if it leads to a move out of the 23141.57-28923.63 area.
If it moves sideways during this period of volatility,
1. If it moves sideways around 26013.28-27496.02, I would expect it to follow the downward channel formed on the 1M chart.
2. If it moves sideways around 27496.02-28923.63, it is expected to touch the area around the HA-High indicator on the 1D chart and re-determine the direction.
For reference, the current HA-High indicator on the 1D chart is located at 30184.24.
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(BTCKRW chart)
Depending on whether there is support or resistance around 35539000, a trend is expected to form.
When a new downtrend line is created on the 1M chart, a downtrend channel has been created and a trading strategy is needed to prepare for the downside.
Therefore, it is a matter of which way you deviate from the 35539000-37821000 range.
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- big picture
A full-fledged uptrend is expected to start when it rises above 29K.
81K-95K is the range we expect to touch in the next bull market.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
---------------------------------
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(BTCUSDT chart)
(1M chart)
However, since it is still in the overbought zone, it can be seen that the uptrend is strong.
Therefore, it is necessary to check whether the StochRSI indicator leads to the appearance of getting out of the overbought zone.
In any case, a new trend line was formed as the StochRSI indicator gave a bearish indication.
Since this trend line formed a down channel, the question is whether it can break out of this down channel.
The HA-High indicator on the 1M chart is still located at 43823.59.
It can be said that conditions have been created to continue the upward trend on the 1M chart only when it rises above the HA-High indicator.
Therefore, it is expected that it will rise above the current HA-High indicator or shake up and down to cause the HA-High indicator to fall.
From a trend point of view, it is located near the MS-Signal indicator, so if it shows support near the MS-Signal indicator, there is a possibility of an uptrend.
Therefore, it can be interpreted that although a new movement has been detected on the 1M chart, it is still unknown in which direction it will move.
-------------------------------------------------- ---
(1W chart)
The StochRSI indicator is showing a transition from an oversold zone to an uptrend.
However, since the price has yet to break out of the oversold zone, it can be seen that the decline is strong.
Therefore, when the StochRSI indicator breaks out of the oversold zone, it is important whether it finds support or resistance at any point or zone.
Currently, the 26574.53 point is an important support and resistance point.
At this point, the HA-High indicator of the 1W chart is formed.
Therefore, if you see support in the 26574.53-27590.60 section, it is expected to show an upward trend.
Therefore, even if a downtrend channel is formed on the 1M chart, if it finds support around 26574.53 and rises or moves sideways, it is expected to lead to a move away from the downtrend channel on the 1M chart.
If it rises to 27590.60 and makes an upward move, it is likely to see a move towards 32259.90.
Therefore, the 26574.53-27590.60 range is an aggressive buy range.
However, if it falls below 26574.53 and shows resistance, you should be able to stop loss.
If it falls below 26574.53, there is a possibility of a decline around 20862.47-23141.57.
These zones correspond to the support and resistance points on the 1M and 1W charts.
--------------------------------------------------
(1D chart)
However, if the price fails to maintain the price by rising above the newly formed downtrend line, above 27496.02, it is expected that it will eventually fall below 26013.28, leading to a sharp decline.
Therefore, the key is whether it can receive support around 27079.41, the point of the HA-Low indicator on the 1D chart, and rise above 27496.02.
Even if it rises above the 27496.02 point, a quick response is required because a volume profile section is formed across the 28465.36-28923.63 section.
Therefore, aggressive buying is recommended when the price shows support in the 26574.53-27496.02 section.
This is because if you buy after seeing support above 27496.02, you may encounter resistance and decline in the volume profile section formed right above it.
Therefore, there is a possibility of receiving resistance and falling in the volume profile section and receiving support around 27496.02 and rising, so you may experience an increase when you make a stop loss.
Therefore, it is not recommended to buy aggressively if you are not familiar with day trading because it is an area where you need to make a decision more quickly.
With the creation of a new downtrend line on the 1M chart, we expect a period of full-scale volatility to run around June 12-18.
Over this period of volatility, we need to see if it leads to a move out of the 23141.57-28923.63 area.
If it moves sideways during this period of volatility,
1. If it moves sideways around 26013.28-27496.02, I would expect it to follow the downward channel formed on the 1M chart.
2. If it moves sideways around 27496.02-28923.63, it is expected to touch the area around the HA-High indicator on the 1D chart and re-determine the direction.
For reference, the current HA-High indicator on the 1D chart is located at 30184.24.
------------------------------------------
(BTCKRW chart)
When a new downtrend line is created on the 1M chart, a downtrend channel has been created and a trading strategy is needed to prepare for the downside.
Therefore, it is a matter of which way you deviate from the 35539000-37821000 range.
------------------------------
- big picture
81K-95K is the range we expect to touch in the next bull market.
-------------------------------------------------- -------------------------------------------
** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
---------------------------------
[Example of exchange chart setup]
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
