Whether it can be supported and rise from BW(0) is the key

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(PEPEUSDT 1W chart)

The key is whether it can rise above the HA-High indicator point of 0.00001898.

To do so, the point to watch is whether it can be supported and rise near the M-Signal indicator on the 1W chart.

Accordingly, if it falls, you should check whether it can be supported near 0.00001463.

The strong support area is around 0.00000723.

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(1D chart)

Since the BW(0) indicator was created at the 0.00001767 point, it is important whether it can be supported and rise around this area.

If it falls, it is important whether it can touch the M-Signal indicator on the 1W chart and rise.

In order to turn into a short-term uptrend, the MS-Signal (M-Signal on the 1D chart) indicator must rise above and maintain the price.

To do so, it must rise above 0.00001898 and be supported.

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From this perspective, if it rises, the area around the M-Signal indicator on the 1D chart is likely to be the first resistance area, and the area around the M-Signal indicator on the 1W chart is likely to be the first support area.

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(1000PEPEUSDT.P 1D chart)


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Thank you for reading to the end.
I hope you have a successful trade.

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- ​​Big picture
I used TradingView's INDEX chart to check the entire range of BTC.

(BTCUSD 12M chart)

Looking at the big picture, it seems to have been following a pattern since 2015 and has been rising.

In other words, 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)

Looking at the LOG chart, you can see that 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, it is expected that prices below 44K-48K will not be seen 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, it is expected that this Fibonacci ratio will be used until 2026.

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No matter what anyone says, the chart has already been created and is already moving.

It is up to you how to view and respond to this.

If the ATH is renewed, there are no support and resistance points, so the Fibonacci ratio can be appropriately utilized.

However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as support and resistance.

The reason is that the user must directly select the important selection points required to generate 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 to use it for trading strategies.

1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15

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