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It is falling below the downtrend line (1), which we consider very important.
We need to make sure we can quickly rise above the downtrend line (1).
The downtrend line (2) is a long-term downtrend line, which I think is a very important trend line.
We need to get support from the downtrend line (2).
Based on the flow from March 13 to May 7, I think the current movement is only Sideways.
However, I think it is a little more sensitive because the current position is in the High part.
The high section in the big picture is more than 8463 points.
The important points in the High section are 9004, 9274, and 9544.5.
If the closing price is generated above 9004 points on the 1D chart today, it is likely that an additional rise will occur.
However, I think it should be generated above the downtrend line (1), i.e. above 9274.
Summarizing the above:
Complete downtrend transition point: 8463 or less
Trend line or point to be supported: Long-term downtrend line (2), 9004 points
Trend line or point where additional upside is possible: downward trend line (1), 9274
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** Check support, resistance and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee profit or loss on investment.
Description of abbreviations shown in chart
R: A resistance point or section where a countermeasure is needed to preserve revenue.
S-L: Stop-Loss point or section
S: A point or section that can be purchased for profit generation as a support point or section
Dear Traders, Nice to meet you.
"Like" is a great power for me.
By "following" you can always get new information quickly.
Thank you for always supporting.
--------------------------------------
It is falling below the downtrend line (1), which we consider very important.
We need to make sure we can quickly rise above the downtrend line (1).
The downtrend line (2) is a long-term downtrend line, which I think is a very important trend line.
We need to get support from the downtrend line (2).
Based on the flow from March 13 to May 7, I think the current movement is only Sideways.
However, I think it is a little more sensitive because the current position is in the High part.
The high section in the big picture is more than 8463 points.
The important points in the High section are 9004, 9274, and 9544.5.
If the closing price is generated above 9004 points on the 1D chart today, it is likely that an additional rise will occur.
However, I think it should be generated above the downtrend line (1), i.e. above 9274.
Summarizing the above:
Complete downtrend transition point: 8463 or less
Trend line or point to be supported: Long-term downtrend line (2), 9004 points
Trend line or point where additional upside is possible: downward trend line (1), 9274
------------------------------------------------
** Check support, resistance and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee profit or loss on investment.
Description of abbreviations shown in chart
R: A resistance point or section where a countermeasure is needed to preserve revenue.
S-L: Stop-Loss point or section
S: A point or section that can be purchased for profit generation as a support point or section
Comment:
The coin market is heading towards the end of the rise.
BTC dominance fell below 67.44.
Altcoins and major coins are rising.
USDT dominance is on the rise.
As the BTC rebounds after falling, the altcoins and major coins rise, with the funds changing to USDT.
I think it's time to focus on monetizing your profits.
We recommend a strategy to monetize your profit by looking at the shorter period rather than looking at it for a long time.
BTC dominance fell below 67.44.
Altcoins and major coins are rising.
USDT dominance is on the rise.
As the BTC rebounds after falling, the altcoins and major coins rise, with the funds changing to USDT.
I think it's time to focus on monetizing your profits.
We recommend a strategy to monetize your profit by looking at the shorter period rather than looking at it for a long time.
[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/
It's sideways around 9004.
All that remains is to see if it can rise above the 9544.5 point around May 24th.