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]
- The moving averages have started to form a bearish alignment.
- Ahead of price, the bearish Ichimoku cloud is still quite thick.
- From a longer-term perspective, there are still many factors that could limit further upside.
- If I want to bet on the upside, I need to do so conservatively.
[1-Hour Chart]
- I drew an Anchored VWAP for this sideways range.
- A fixed VWAP is called an Anchored VWAP. It is a VWAP calculated from a specific point chosen by the user. VWAP stands for Volume Weighted Average Price.
- If I draw a VWAP from a meaningful point, such as the low where a major rally began, the high where a major decline began, a news release, a breakout candle, or the start of a certain volume zone, it can be viewed like the average buy or sell price of market participants from that point to the present, weighted by volume.
- If price is above the Anchored VWAP, it means price is above the average participant’s level since that anchor point.
- If price is below the Anchored VWAP, it means price is below the average participant’s level since that anchor point.
- Currently, the candle is touching the upper band. If it breaks above this area, there may be room to expect a stronger move upward.
- From a longer-term perspective, downside still needs to be kept in mind, but in the short term, a potential buying area is gradually getting closer.
[Ethereum, ETHUSDT.P]
This is the comprehensive Ethereum chart.
[Weekly Chart]
- Ethereum is moving sideways near the previous high.
- If price breaks above the previous high, it can become a reliable support level. If it fails to break through and turns lower, it can become a strong resistance level.
- For now, if this week’s candle closes bullish, that would mean Ethereum has broken above this area. So this week, it may be reasonable to build a strategy with the upside in mind.
[1-Hour Chart]
- I drew an Anchored VWAP.
- Price touched the upper band, dropped sharply, then climbed back up and is now touching the upper band again.
- It looked like it might break above the upper band, but at the time of writing, it is falling again.
- In any case, this is an area where buyers and sellers are continuing to fight over whether price will move higher. Next week looks important.