To turn into a short-term uptrend

11 sept. 2024

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(1D chart)

As I mentioned in the idea yesterday, the key is whether it can be supported around 56150.01-56950.56 and rise above the M-Signal indicator on the 1W chart.

Before that, we need to check whether it can rise above the MS-Signal (M-Signal on the 1D chart) indicator and maintain the price by rising above 57889.10.

If it fails to rise above the MS-Signal indicator, it is likely to fall to around 52137.67.

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The IBIT BTC ETF chart looks a little different in that there is a gap between the MS-Signal indicator and the IBIT indicator.

The location of the StochRSI indicator is also different.

On the BTCUSDT chart, it is just before entering the overbought zone, but on the IBIT chart, it is located near the 50 point.

Therefore, we need to check at what point the StochRSI indicator of the two charts enters the overbought zone and receives support.

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It is expected that a full-scale volatility period will begin.

Since this volatility period was set on the 1W chart, it is likely to continue until September 29, so caution is required when trading.



If USDT or USDC continues to gap up, it is expected to continue to rise after the volatility period.

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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 when it rises above 29K.

The range 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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11 sept. 2024

Note

(USDT.D 1D chart)

USDT dominance must fall for the coin market to show an upward trend.

From this perspective, the important thing now is whether it can fall below the M-Signal indicator on the 1M chart and be maintained.

To do so, we need to check whether it can fall below 5.89.