Volatility Period: October 16 (October 15-17)
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(ETHUSDT 1D Chart)
Following BTC, ETH is also entering a volatility period.
This period of volatility for ETH is expected to last until October 16th (October 15th-17th).
After this period of volatility, the key question is whether the price can find support around 3900.72-4372.72 and rise above 4403.87 to maintain its price.
If the price fails to rise, it is expected to encounter the M-Signal indicator on the 1M chart, so a response plan should be considered.
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(1M chart)
The StochRSI indicator on the 1M chart is entering an overbought zone, potentially limiting its upward movement.
Therefore,
1st: 3900.73-4107.80
2nd: 3321.30-3438.16
We need to determine whether the price can rise after finding support near the 1st and 2nd levels above.
In other words, we need to see if the price remains above the M-Siganl indicator on the 1M chart.
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(1W chart)
Looking at the 1W chart, the HA-High ~ DOM (60) range is formed in the 4393.04-4780.15 range. Therefore, a rise above this range is necessary for a stepwise uptrend.
Ultimately, the key question is whether the price can rise above the 4393.04-4780.15 range.
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Therefore, the key question is whether the 4393.04-4780.15 range, which corresponds to the HA-High ~ DOM(60) range on the 1W and 1D charts, can rise after this period of volatility.
As I always say, to break above this important point or range and continue the uptrend,
1. The StochRSI indicator must be trending upward. If possible, it's best to avoid entering the overbought zone.
2. The On-By-Sign-Observable (OBV) indicator must be trending upward. If possible, it should remain above the High Line.
3. The TC (Trend Check) indicator must be trending upward. If possible, it should remain above the 0 level.
If the above conditions are met, the uptrend is likely to continue.
It's recommended to draw support and resistance points or ranges on the 1M, 1W, and 1D charts and utilize auxiliary indicators to determine the significance of these points or ranges.
When drawing support and resistance points or zones, we often think of them as important, but it can be difficult to recognize how important they actually are.
Therefore, when drawing support and resistance points or zones, it's important to be able to develop a basic trading strategy.
Once you've established a basic trading strategy, the key to trading is figuring out how to maintain that strategy and respond accordingly.
No matter what chart analysis you use, you'll ultimately need to draw support and resistance points or zones.
Therefore, the first step is to draw support and resistance points or zones on the 1M, 1W, and 1D charts.
Next, you should check auxiliary indicators to determine the importance of the drawn support and resistance points or zones and determine whether you should respond.
To achieve this, you need to understand your investment size and how to manage your reserve funds.
You should always keep a certain portion (approximately 20%) of your total investment in cash.
This allows you to respond to volatility when it occurs.
If you've invested too much money in a single coin (token, stock), it's a good idea to sell some of it when the price rises to a certain level and secure cash.
Ultimately, overcoming the relentless volatility of the beginning and achieving profit depends on how you manage your funds.
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Thank you for reading to the end.
I wish you successful trading.
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