This post is a personal investment journal based on my own market study and observations. It is not financial advice or a recommendation to buy or sell any asset. All investment decisions and responsibilities belong to each individual investor, so please make careful decisions based on your own judgment and risk tolerance.
[Bitcoin, BTCUSDT.P]
This is the comprehensive Bitcoin chart. From the upper left in a Z-shaped order, the timeframes are the 15-minute, 30-minute, 1-hour, 4-hour, daily, and weekly charts.
[Weekly Chart]
Bitcoin changed direction in just one day.
At the moment, price has come down near the center of the declining volume zone that began in May. This could become an important support area, and if it breaks below this level, the decline could become more severe.
[Daily Chart]
Bitcoin also broke below the centerline of the sideways volume zone in one move. If the situation still looked ambiguous until yesterday, starting today the downside concern has grown.
From here, I think more weight needs to be given to the bearish side.
[4-Hour Chart]
Bitcoin is receiving support around the center of the May declining volume zone. This area will likely become an important battleground.
I need to watch whether price finds support here or breaks down and falls sharply.
[1-Hour Chart]
The RSI has also broken below 30 and entered oversold territory.
When RSI is below 30, buying can be considered. However, since Bitcoin has broken all of the important levels, the decision needs to be made carefully.
[Ethereum, ETHUSDT.P]
This is the comprehensive Ethereum chart.
[Weekly Chart]
This week’s weekly candle looks likely to close as a bearish candle. Ethereum had been showing bullish candles for about a month, but the trend has now turned.
Whether this is an actual trend reversal or just a temporary correction will need to be judged by next week’s candle.
Next week, there are important issues such as whether the CLARITY Act will pass. The chart also seems to be preparing for an important event.
[Daily Chart]
Ethereum ultimately failed to break through the VWMA 100 and is facing resistance there.
Unlike Bitcoin, Ethereum had broken above the upper area of the sideways volume zone, but now it is approaching that level again.
The flow does not look very good.
[4-Hour Chart]
The VWMA 100 support line, which had held three times, has broken.
Price then pulled back all the way to the EMA 200, where it appears to be receiving support for now.
Looking at the broader structure, Ethereum received support from the SMA 50 four times, then from the VWMA 100 three times, and has now fallen below that area.
The fact that the moving average providing support is gradually moving lower is not a good sign.
[1-Hour Chart]
The gap between the candles and the moving averages has become quite wide, so it is difficult to form a clear view here.