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 is clearly holding the center area of the volume zone that began in May.
This sideways market has lasted for almost two months, so I imagine many retail traders are already exhausted.
[Daily Chart]
On the daily chart, Bitcoin is still not moving away from the center of the sideways volume zone, marked by the red line. The RSI is also moving sideways without reaching either overbought or oversold territory.
This is a dull market, a difficult market to analyze, and exactly the kind of market where entering too aggressively can easily leave someone trapped.
[4-Hour Chart]
On the shorter timeframe, the moving averages are clustered together, while the candles are jumping up and down, ignoring moving-average support and resistance.
This is why chart analysis is difficult right now, and it is also why I have not been writing many posts lately.
[Ethereum, ETHUSDT.P]
This is the comprehensive Ethereum chart.
[Weekly Chart]
Ethereum is also moving sideways, just like Bitcoin.
It is still showing a step-like decline pattern, so I would feel more comfortable only if it breaks that pattern and moves sharply higher. For now, the chart still looks more uneasy than reassuring.
[Daily Chart]
The daily chart is the same. Ethereum has not been able to move far away from the center area of the sideways volume zone.
[4-Hour Chart]
The 4-hour chart also looks similar. The moving averages are clustered together, while the candles are jumping up and down, ignoring moving-average support and resistance.
This is a section where simply watching the market may do more to protect capital than forcing a trade.