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 continuing to form a bullish candle. It has moved back above the 0.65 area of the speed fan, so from here it looks likely to aim higher.
- However, there is a thick bearish cloud above, so rather than holding a position for too long, a strategy of taking shorter-term profits seems more appropriate.
[4-Hour Chart]
- You can see the two red trendlines. They form a triangular consolidation. The candle had been moving inside this structure, then looked like it was breaking down, but instead moved higher. This looks like a typical shakeout of retail traders.
- The Ichimoku cloud is also thin in this area, so it looks likely to break through without too much difficulty. However, since the weekly chart is filled with a bearish cloud above, I plan to take profits at a reasonable point.
[1-Hour Chart]
- I drew the volume zone for the sideways range. Price moved sideways between the VAH, the upper white line, and the POC, the red line, then moved lower. After that, it moved sideways between the POC and the VAL, the lower white line, before rising again.
- Since price also broke above the bearish cloud while moving sideways, it seems better to give more weight to the upside.
- I should keep in mind that the RSI has moved close to 70, so a correction could come at any time.
[Ethereum, ETHUSDT.P]
This is the comprehensive Ethereum chart.
[Weekly Chart]
- Ethereum’s rise is weaker than Bitcoin’s. At the moment, this appears to be a Bitcoin-led market.
[Daily Chart]
- Ethereum has been moving sideways for quite a while around the previous high. It then dipped slightly and is recovering again today.
- On the daily timeframe, it is difficult to find any particularly important point.
[4-Hour Chart]
- Ethereum is gradually moving higher while using the VWMA 100 as support. Since the Ichimoku cloud is thin, if price does move upward, it looks like it could rise a bit more from here.
- The moving averages are also in bullish alignment, so I think it is reasonable to position with the upside in mind for now.
[1-Hour Chart]
- Ethereum is moving higher after breaking cleanly through the bearish candle.
- At the current point, upward momentum is clearly strong. Ideally, the position should have been taken two to three hours ago. Since it is now in an overbought area, I think it would be better to enter when a pullback appears.