Starting point for jumping to around 11.336
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(NEARUSDT 1W chart)
It is showing an upward trend by breaking through the M-Signal indicator on the 1W and 1M charts.
Accordingly, it is highly likely that an upward trend will begin.
However, since the BW(100) or HA-High indicator is formed around 7.001-7.246, it is expected that a full-scale upward trend will begin only when it rises above this range.
The target range is around 11.336.
I think that the range below 3.868 is a mid- to long-term investment area, and it is a price that may rise at any time.
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(1D chart)
To maintain an upward trend,
1st: 5.397
2nd: 4.639
It must be supported and rise near the 1st and 2nd above.
If not, it must fall, so be careful as it may fall to around 3.868.
Since it has risen above a significant section, unless there are special issues (e.g., BTC does not show a sharp decline), it is expected to continue the upward trend after confirming support.
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Have a good time.
Thank you.
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- Big picture
I used TradingView's INDEX chart to check the entire section of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been rising along 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.
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(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.
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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.
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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
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Note
#NEARUSDT.P
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