â—‡Daily
If you look at the flow yesterday, I said that the second target of the ABCD pattern that I presented has risen to the vicinity, but because it is near the strong selling platform, I said that it will not be able to break easily. You can assume that the current is flowing as it is. If the secondary target gives an adjustment after a touch, it is likely to fall to the bottom of the channel. There are support lines that have been made before, so the target price for the first decline is 30900, which is the point of decline as much as a 1:1 ratio of yesterday’s increase.
That point overlaps the tail of the last 24 days. In fact, even if the tail rises, it is something that must be confirmed in the end, so if you make a decline and rebound today, you will be able to create an uptrend again. However, if it breaks down, it should be kept open to the bottom of the channel.
If we want to go straight to the upside here, we need to go above 36,000, showing a trend to support yesterday’s ABCD pattern’s primary target of 32800. This is the moment when yesterday’s support line becomes a resistance line. As RSI said, it is difficult to see the flow of recovering at once after breaking 50. As you can see, it seemed to be over 50, but it was being adjusted with strong resistance in the vicinity. If the bit ends the decline, the RSI should also show good support for the 50.
â—‡4 hour stick
Even at the 4 hour bar, the ABCD pattern came out precisely. If you look at the falling target price, you can infer up to the 1st 2nd 3rd and it has already reached the 2nd. Now, the only target price remaining is 30900, which is the 3rd target price, and if there is an additional decline here, it is likely to be at the bottom of the channel, as I said at the daily rate.
Just by looking at the moving average, you can see that the bit is now predominating. It has come down below 7 pyeong and 20 pyeong and these will act as resistance again. The RSI also fell below 50 again, and until it recovers again, it won’t be a hassle.
Right now, it is a good strategy to maximize profits by waiting for a strong trend, whether it is a rise or a fall, to be a good strategy to maximize profits by responding from the point where it can be responded.
â—‡Ethereum
Ethereum 4-hour chart. Ethereum is showing a sideways trend by creating a flat channel near the peak. Breaking above that channel is expected to reach new highs and continue the upward trend. But yesterday, it was strongly resisting and undergoing corrections near the trend line.
I set up a support line around the store, and the first support line is 1311. It also matches the Fibonacci ratio. Here, they are supported and rebound, but in order to return to the upside, they must eventually break through 7 ratings. That point is around 1393.
The 1393 can act as a strong resistance line, so even if it rises to this point, it will eventually be down if it fails to break. Ethereum is a very ambiguous position right now. Please buy and sell after confirming whether you are breaking through or supporting the peak.
â—‡Bit dominance
Bit dominance is the same as I said yesterday. It seems that it will move sideways until the direction of the beat comes out while continuously drawing the box circle.
â—‡ Alt Dominance
Alt Dominance continues to be strong. While the bit moves sideways, the Alt strength is likely to continue.
â—‡Tether dominance
Tether dominance seemed to rise yesterday as the beat adjusted, but as the alt bull market continues, it seems difficult to rise easily. From the point of view of the coin holders, it would be good for the tether dominance to continue to decline. Tether dominance is also likely to move sideways now.
â—†General review
There were a lot of traders who said yesterday that the bit was confirmed to the upside due to hasty judgment. So, there are probably not one or two people who have been forced into the long and lost. There is a lot of shaking these days, so you must make sure to buy and sell.
You have to think that you are making money even when you are not trading. Premature buying and selling can lead to losses, and it is a good strategy to take a break at this time.
When the trend is re-established, we will try to make a good analysis so that we can pick up a big RBI and drive profits. That is all. Thank you. (2021.01.26. 12:00)
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