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.
On the weekly chart, Bitcoin is somehow continuing to hold the SMA 200. If it closes this way, it would mean that after four weeks of bullish candles, followed by one bearish candle, it is closing bullish again. Although the strength is still weak, this could be interpreted as Bitcoin maintaining its upward trend.
The daily chart continues to move sideways.
On the 4-hour chart, the SMA 50 and VWMA 100 are preparing for a golden cross. However, since the candles continue to form both upper and lower wicks, I do not really intend to change my view that the market is still ambiguous.
The 1-hour chart has also broken below the SMA 50. When the situation is unclear, I think it is usually better to keep the downside in mind. Since the 1-hour moving average has also broken, that view feels even more reasonable.
Since there is still no meaningful trading volume, it seems better not to force anything.
[Ethereum, ETHUSDT.P]
This is the comprehensive Ethereum chart.
Looking at Ethereum’s 1-hour chart, it also appears to be trying to break below the SMA 50. Like Bitcoin, it may be preparing for a correction. Since there is also no meaningful trading volume here, it seems better to be cautious.