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 continues to move sideways around the SMA 200.
The moving averages are converging, but since the shorter-term moving averages are moving downward as they converge, that would not be a positive sign once they come together.
[Daily Chart]
The extremely tedious sideways movement continues. Bitcoin still has not been able to move away from the center area of the volume zone.
[4-Hour Chart]
I do not see any meaningful movement here.
[Ethereum, ETHUSDT.P]
This is the comprehensive Ethereum chart.
[Weekly Chart]
The step-like decline does not appear to be over. Ethereum needs to gain strength and move sharply higher, but instead, it is moving lower again.
[Daily Chart]
Like Bitcoin, Ethereum has not been able to move away from the centerline of the sideways volume zone.
[4-Hour Chart]
Ethereum is moving higher while receiving support from the SMA 200.
Above that, however, it is facing resistance in the area where the other moving averages are clustered together.
I think it may remain trapped in this range and continue moving back and forth.
Recently, I have been posting less frequently because, no matter how much I look at the charts, there is not much that can be clearly interpreted. Please do not misunderstand this as me giving up on analysis. I simply think it is better to observe for now rather than force trades and take unnecessary damage, so I am not pushing myself to write when there is not much to say.