On large time frame charts when using Fibonacci ratios...
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(DOGEUSD 1M chart)
To understand the overall wave, we analyzed it using TradingView's charts.
The key is whether the price can be maintained by rising above 0.22393, which is the upper point of the box section of the HA-High indicator.
Accordingly, we need to check if it is supported and can rise around 0.707 (0.20689) to 0.786 (0.22377).
Due to this rise, it is expected that a new HA-High indicator will be created next month.
If that happens, an important question will be whether it can be supported and rise in the newly created HA-High indicator.
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(DOGEUSDT 1M chart)
Currently, the HA-High indicator is formed at 0.13377.
(1W chart)
The area around 0.5 (0.15983) to 1 (0.26667) corresponds to the psychological resistance zone.
Accordingly, the key is whether the price can be maintained by rising above 1 (0.26667).
If it rises above 1 (0.26667), it is expected to rise to around 1.618 (0.39871).
(1D chart)
The key is whether it can receive support around 0.21597 and rise.
If not, you should check for support around 0.20420.
If it falls below 0.20420,
1st: 0.618 (0.18505)
2nd: 0.5 (0.15983) ~ 0.17001
3rd: 0.13377
You need to check whether you receive support around the 1st to 3rd positions above.
If it falls below 0.13377, it is expected to turn into a downward trend.
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Depending on whether it receives support or resistance at the Fibonacci retracement rate point, you can predict whether it will rise by two levels or decline.
Accordingly, if it meets resistance and falls near 0.786, you can expect it to fall to around 0.618 or rise to around 0.886, depending on whether it receives support or resistance around 0.707.
However, Fibonacci has the disadvantage of having to specify a selection point, so if the selection point is specified incorrectly, erroneous results may be obtained, so it is recommended to draw on a time frame chart as large as possible.
This is because I believe that only then can the waves generated by fakes or whipsaws be filtered out.
If you plot Fibonacci on a time frame chart that is too large, you may find it to be of little use due to the intervals being too large.
However, I think there is no problem at all due to the nature of the coin market, which has large fluctuations.
Rather, I think it plays a more accurate role of support and resistance.
Have a good time.
thank you
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- The big picture
The full-fledged upward trend is expected to begin when the price rises above 29K.
This is the section expected to be touched in the next bull market, 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 13401.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
These are points that are likely to encounter resistance in the future.
We need to see if we can break through these points upward.
Since it is thought that a new trend can be created in the overshooting area, you should check the movement when this area is touched.
#BTCUSD 1M
If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern.
1st: 43833.05
2nd: 32992.55
-----------------
If you "Follow" us, you can always get new information quickly.
Please also click “Boost”.
Have a good day.
-------------------------------------
(DOGEUSD 1M chart)
The key is whether the price can be maintained by rising above 0.22393, which is the upper point of the box section of the HA-High indicator.
Accordingly, we need to check if it is supported and can rise around 0.707 (0.20689) to 0.786 (0.22377).
Due to this rise, it is expected that a new HA-High indicator will be created next month.
If that happens, an important question will be whether it can be supported and rise in the newly created HA-High indicator.
-------------------------------------------------
(DOGEUSDT 1M chart)
(1W chart)
Accordingly, the key is whether the price can be maintained by rising above 1 (0.26667).
If it rises above 1 (0.26667), it is expected to rise to around 1.618 (0.39871).
(1D chart)
If not, you should check for support around 0.20420.
If it falls below 0.20420,
1st: 0.618 (0.18505)
2nd: 0.5 (0.15983) ~ 0.17001
3rd: 0.13377
You need to check whether you receive support around the 1st to 3rd positions above.
If it falls below 0.13377, it is expected to turn into a downward trend.
-----------------------------------------
Depending on whether it receives support or resistance at the Fibonacci retracement rate point, you can predict whether it will rise by two levels or decline.
Accordingly, if it meets resistance and falls near 0.786, you can expect it to fall to around 0.618 or rise to around 0.886, depending on whether it receives support or resistance around 0.707.
However, Fibonacci has the disadvantage of having to specify a selection point, so if the selection point is specified incorrectly, erroneous results may be obtained, so it is recommended to draw on a time frame chart as large as possible.
This is because I believe that only then can the waves generated by fakes or whipsaws be filtered out.
If you plot Fibonacci on a time frame chart that is too large, you may find it to be of little use due to the intervals being too large.
However, I think there is no problem at all due to the nature of the coin market, which has large fluctuations.
Rather, I think it plays a more accurate role of support and resistance.
Have a good time.
thank you
--------------------------------------------------
- The big picture
This is the section expected to be touched in the next bull market, 81K-95K.
#BTCUSD 12M
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 13401.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
These are points that are likely to encounter resistance in the future.
We need to see if we can break through these points upward.
Since it is thought that a new trend can be created in the overshooting area, you should check the movement when this area is touched.
#BTCUSD 1M
1st: 43833.05
2nd: 32992.55
-----------------
[Example of exchange chart setup]
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
It rose to around 0.707, failed to find support, and fell, eventually falling two levels and touching around 0.5, and is currently located around 0.618.
Accordingly, if it is supported and rises around 0.618, it can be interpreted that there is a high possibility that it will rise to around 0.886.
At this time, since it may not rise above 0.886, you can decide whether to sell in installments by looking at the trend when it rises above 0.786.
If it is not supported around 0.618 and falls, it may fall to around 0.382, so you need to decide whether to stop loss around 0.5.
You shouldn't think of everything based solely on Fibonacci ratios.
The reason is, as I mentioned earlier, Fibonacci specifies selection points.
This is because specifying a selection point is likely to involve subjective thoughts, which can ultimately reflect psychological factors.
Therefore, you must find and draw support and resistance points on the 1M, 1W, and 1D charts and compare them with the Fibonacci ratio.
In that sense, it must be interpreted with reference to the support and resistance points drawn on the chart.