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.
This week’s weekly candle is bullish for now. Bitcoin is stubbornly holding the SMA 200. I looked back to see if there had been a similar case in the past, but I could not find one. The current sideways movement really does seem unusual.
On the daily chart, Bitcoin has broken above the SMA 50 and is currently maintaining that move. However, the gap between the SMA 50 and the candle is not large enough to say that price has fully broken away from it. With just one decline, it could move back below the SMA 50 again.
For now, I think it is better not to trade. From the 15-minute chart all the way to the weekly chart, the RSI is in an ambiguous position. It is also difficult to find either bullish or bearish divergence, because the candles are moving sideways. Rather than forcing a trade, it seems better to wait until the right moment comes.
[Ethereum, ETHUSDT.P]
This is the comprehensive Ethereum chart.
My view on Ethereum is the same as Bitcoin. I do not see any meaningful levels, and the RSI is also moving sideways, so I feel reluctant to do anything here.