Volatility period until June 19 (Importance of studying candles)
Updated
Hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(BTCUSDT chart)
(1M chart)
(1W chart)
After studying candlesticks, when you look at candlesticks on a chart, the tails are the first thing you see.
The reason is that it shows a phenomenon that is highly likely to generate volatility.
The change in the candlestick may not seem like a big deal, but after studying, you will be able to detect faster changes in the chart.
It can be said that candle study is the most basic in chart analysis.
Changes in candlesticks in the coin market cannot be easily discerned.
The reason for this is that we conduct 24-hour trading.
Among the changes in the candlestick, the movement near the tail can be checked to some extent with the candlesticks on the 1W and 1M charts.
You can proceed with trading only by detecting the change of the candlestick.
In order to trade, you must have a trading strategy.
That's why you need support and resistance points or zones to create a trading strategy.
(There is no need to memorize candle patterns.
The reason I am talking about studying candlesticks is to identify movements such as changes in buying and selling forces following changes in candlesticks.
Never try to memorize candle patterns just because you are studying candles.
Like reading a novel, you should study like watching a movie.)
The basis for identifying support and resistance points or zones can be found in candlestick shifts.
Even in that sense, studying about candles is essential.
If you look at the current 1M, 1W, and 1D charts, you can see that the overall trend is down.
It can be seen that to break out of this downtrend, it is necessary to break out of the two downtrend lines drawn on the 1M chart.
Therefore, it will need to rise above 28923.63 to ultimately break out of the downtrend.
Looking at the 1W chart before that, if it rises above the 26574.53-27590.60 section and shows support, the possibility of an uptrend increases, so you can see that the first selling section is around 28923.63.
This is because the 28923.63 point is an important support and resistance zone on the 1M chart.
Looking at the 1D chart, the HA-Low indicator on the 1D chart is located at 25994.07.
Therefore, it is necessary to check whether it is supported around 25994.07.
However, since it is located near the support and resistance zones mentioned on the 1M and 1W charts, you should eventually check the movement until June 19th, this volatility period.
Then, the next period of volatility should confirm the move until around July 8th.
If the price remains at or above the 26574.53-27496.02 range after around July 8th, it is likely to show an uptrend.
This is because it breaks out of the two downtrend lines drawn on the 1M chart.
In order to create a trading strategy like this, you need to refer to all time frame charts, find important support and resistance sections, and think about countermeasures for those points or sections.
Therefore, you should spend more time creating and revising your trading strategy than you spend analyzing charts to successfully close trades.
------------------------------------------
(BTCKRW chart)
It is showing a downward trend, falling below the HA-High indicator on the 1W chart.
However, since the HA-Low indicator point of the 1D chart was created at the 34225000 point, it is necessary to check whether it is supported near this point.
If supported, it is likely to rise to the vicinity of the HA-High indicator on the 1D chart.
Since there are many important support and resistance sections to rise to the point of the HA-High indicator on the 1D chart, it would be better to check where the HA-High indicator on the 1D chart is created by falling.
The important support and resistance zones are
-34820000-35539000
-37821000-39579000
This applies to the above section.
If it falls below 34225000,
1st: 31024000-32042000
2nd: 27317000-29639000
You need to make sure that it is supported in the vicinity of the 1st and 2nd above.
------------------------------
- big picture
A full-fledged uptrend is expected to start when it rises above 29K.
This is the 81K-95K range that 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.
---------------------------------
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(BTCUSDT chart)
(1M chart)
(1W chart)
After studying candlesticks, when you look at candlesticks on a chart, the tails are the first thing you see.
The reason is that it shows a phenomenon that is highly likely to generate volatility.
The change in the candlestick may not seem like a big deal, but after studying, you will be able to detect faster changes in the chart.
It can be said that candle study is the most basic in chart analysis.
Changes in candlesticks in the coin market cannot be easily discerned.
The reason for this is that we conduct 24-hour trading.
Among the changes in the candlestick, the movement near the tail can be checked to some extent with the candlesticks on the 1W and 1M charts.
You can proceed with trading only by detecting the change of the candlestick.
In order to trade, you must have a trading strategy.
That's why you need support and resistance points or zones to create a trading strategy.
(There is no need to memorize candle patterns.
The reason I am talking about studying candlesticks is to identify movements such as changes in buying and selling forces following changes in candlesticks.
Never try to memorize candle patterns just because you are studying candles.
Like reading a novel, you should study like watching a movie.)
The basis for identifying support and resistance points or zones can be found in candlestick shifts.
Even in that sense, studying about candles is essential.
If you look at the current 1M, 1W, and 1D charts, you can see that the overall trend is down.
It can be seen that to break out of this downtrend, it is necessary to break out of the two downtrend lines drawn on the 1M chart.
Therefore, it will need to rise above 28923.63 to ultimately break out of the downtrend.
Looking at the 1W chart before that, if it rises above the 26574.53-27590.60 section and shows support, the possibility of an uptrend increases, so you can see that the first selling section is around 28923.63.
This is because the 28923.63 point is an important support and resistance zone on the 1M chart.
Looking at the 1D chart, the HA-Low indicator on the 1D chart is located at 25994.07.
Therefore, it is necessary to check whether it is supported around 25994.07.
However, since it is located near the support and resistance zones mentioned on the 1M and 1W charts, you should eventually check the movement until June 19th, this volatility period.
Then, the next period of volatility should confirm the move until around July 8th.
If the price remains at or above the 26574.53-27496.02 range after around July 8th, it is likely to show an uptrend.
This is because it breaks out of the two downtrend lines drawn on the 1M chart.
In order to create a trading strategy like this, you need to refer to all time frame charts, find important support and resistance sections, and think about countermeasures for those points or sections.
Therefore, you should spend more time creating and revising your trading strategy than you spend analyzing charts to successfully close trades.
------------------------------------------
(BTCKRW chart)
It is showing a downward trend, falling below the HA-High indicator on the 1W chart.
However, since the HA-Low indicator point of the 1D chart was created at the 34225000 point, it is necessary to check whether it is supported near this point.
If supported, it is likely to rise to the vicinity of the HA-High indicator on the 1D chart.
Since there are many important support and resistance sections to rise to the point of the HA-High indicator on the 1D chart, it would be better to check where the HA-High indicator on the 1D chart is created by falling.
The important support and resistance zones are
-34820000-35539000
-37821000-39579000
This applies to the above section.
If it falls below 34225000,
1st: 31024000-32042000
2nd: 27317000-29639000
You need to make sure that it is supported in the vicinity of the 1st and 2nd above.
------------------------------
- big picture
A full-fledged uptrend is expected to start when it rises above 29K.
This is the 81K-95K range that 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.
---------------------------------
Note
(BTCUSDT chart)Rising above 26574.53 during the volatility period, it appears to be trying to break away from a single downtrend line.
After the next volatility period around July 8th, we need to see if it can break out of the remaining downtrend line.
Black Friday sale 70% off :
tradingview.com/black-friday/
Other content (coins, stocks, etc.) is frequently posted on X.
X에 다른 내용(코인, 주식 등)이 자주 게시됩니다.
tradingview.com/black-friday/
Other content (coins, stocks, etc.) is frequently posted on X.
X에 다른 내용(코인, 주식 등)이 자주 게시됩니다.
Related publications
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.