Key Support Area: Around 3265.0-3321.30

24 nov

Hello, traders.

If you "Follow", you can always get new information quickly.

Please click "Boost" as well.

Have a nice day today.

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

(ETHUSDT 1D chart)

The key for ETH right now is whether it can get support around 3265.0-3321.30.

If it gets support, ETH is expected to show an upward movement to renew the ATH.

-
As I mentioned in this BTC idea, since BTC is expected to show a slight downward sideways movement, I think it is likely to show an upward movement if it gets support at this time.

-
If it falls below 3243.80 and shows resistance, it is important to see if it can rise after receiving support near the MS-Signal (M-Signal on the 1D chart).

If not, it can fall to around 2895.47.

-
The final buy zone for ETH is around 3644.71, but if possible, it is recommended to buy below 3438.16.

The reason is that if the price starts to rise, it is likely to rise while shaking up and down.

-
Have a good time.
Thank you.

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

- ​​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.

That is, it is a pattern that maintains a 3-year uptrend and faces a 1-year downtrend.

Accordingly, the uptrend is expected to continue until 2025.

-
(LOG chart)

As you can see from the LOG chart, the uptrend 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 expect that we will not see prices below 44K-48K in the future.

-

The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.

In other words, it is the Fibonacci ratio of the first wave of the uptrend.

The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019.

Therefore, this Fibonacci ratio is expected to be used until 2026.

-
No matter what anyone says, the chart has already been created and is already moving.

How to view and respond to this is up to you.

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

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