Point to break out of short-term downtrend channel (2851.75)

Aug 25
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(ETHUSDT 1D chart)

The key is whether the price can rise above 2851.75 to break out of the short-term downtrend channel.

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Currently, it has risen above the M-Signal indicator on the 1M chart.

Therefore, from a long-term perspective, it is possible that the uptrend will continue.

However, in order for a full-scale uptrend to begin, the M-Signal on the 1D chart > M-Signal on the 1W chart > M-Signal on the 1M chart must be in that state.

Therefore, we need to see if it can maintain the price by rising above the M-Signal indicator on the 1W chart after the volatility period around September 8th.

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Since the StochRSI indicator is currently in the overbought zone, it is important at what point it finds support when the StochRSI indicator falls from the overbought zone and becomes StochRSI < StochRSI EMA.

Therefore, if it fails to rise above 2851.75 and falls, it is important to see if it can find support around 2621.99-2700.43.

If it finds support around 2621.99-2700.43 and switches to the state of StochRSI > StochRSI EMA, it is expected to lead to an attempt to rise above 2851.75.

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If the M-Signal indicator of the 1W chart rises above, the HA-High indicator (3265.00) of the 1W chart and the HA-High indicator (3321.30) of the 1M chart are likely to be the first resistance zones.

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The volatility period on the BTCUSDT chart is around September 13.

However, the volatility period on the ETHUSDT chart is expected to start around September 8.

Therefore, the key is whether it can escape the short-term downtrend channel after September 8.

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Have a good time.
Thank you.

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- ​​Big picture

It is expected that a full-scale uptrend will begin after rising above 29K.

The area expected to be touched in the next bull market is 81K-95K.

#BTCUSD 12M

1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 13401.28
151166.97-157451.83 (overshooting)
5th: 178910.15

These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.

We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.

#BTCUSD 1M

If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55

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Aug 28

Comment

#ETHUSDT

In order for an upward block to be created on the Renko chart, it must rise above 2600.


Therefore, the key is whether it can rise with support near the 2621.99-2700.43 section.

If not, you should check for support near 2196.52.

The next volatility period is around September 8th (September 7th-9th), so it is important to see if it rises above the 2621.99-2700.43 range at that time.