readCrypto

Bitcoin (BTC) - January 29

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BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W Chart) - Mid-Long-Term Perspective
28130.0-29300.0 or higher: Expected to continue upward trend

41950.0-46930.0 or more: Expected to create a new wave.


The strong support zone is the 28K-32K zone.



(1D chart)
First resistance section: around 38150.02
Second resistance section: 46487.52-49266.69

Support section: 27033.35-29812.52


It found support near the 36244.55 point, a new low that is forming on the 1D chart, and is rising above the 37253.81 point.

We need to see if there is support near the 37253.81 point and a possible breakout attempt above the 38150.02 point.


In the short term, if it rises above the 40100.0 point, it is expected to turn into an uptrend,
(There is a possibility of receiving resistance on the M-Signal line of the 1M chart passing the 38150.02-40100 section.)

We anticipate that the price will need to rise above the 45135.66 point to hold the price before turning into an uptrend.


A decline from the 35045.00 point could lead to a fall near the support zone, so trade cautiously.


There have been about two attempts to exceed the MS-Signal indicator.
We need to see if we can get a third breakout attempt by moving above the 38150.02 point this time around.


The center line of OBV in the volume indicator is rising and the green width is decreasing.

If the red band of OBV turns into a green band and the volume increases above 114.203K, I think the chances of an uptrend are very high.


At the same time, in the CCI-RC indicator, the CCI line is approaching the -100 point and the EMA line.

Trade with caution as volatility can occur when the CCI line crosses the -100 point and the EMA line.


I marked the two resistance sections above.

However, the resistance section that must be passed before that point is 40100 and 45135.66.


The next volatility period is around February 10th.

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(XBTUSD 1M Chart) - Big Trend
All patterns and waves can be known when they are completed, so it is best to conduct a trade that matches your average unit price rather than a trade based on prediction.

Looking at the big picture, I think 4-5 waves are going on.


Depending on how you interpret section A, the wave may be different.
Likewise, you need to be more careful in your trading, because the parts that have not yet been created may have the same flow as section A.

The expected ascent section is near the 80574.0-83397.0 section.
This is an expected value considering the fluctuation range that has risen from the 1st section to the 2nd section.

There are two large resistance intervals to move up to the expected level.
The two large resistance sections are sections a and b.

If it fails to break through section a upward, I think it can represent the same flow as section A.


If it rises above the 72104.0 point with this rise, it is expected that it will not fall below the 26K-29K section (maximum 21K section) even if a bear market continues.

If the 38K section is touched, it is expected to lead to a sharp rise.

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We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether the price trend is in an upward trend or a downward trend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.

The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.

Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to be able to regenerate themselves.

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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not been released yet.
(Since it was not disclosed, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.)
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.

(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)

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Comment:
Although the XBTUSD chart and the BTCUSDT chart are displayed alternately, the flow of the XBTUSD chart is more accurate than the flow of the BTCUSD chart.


From a short-term perspective, we expect volatility to occur around January 30, 12:00 (UTC).
(XBTUSD 1h chart)


These contents will be told in the real-time broadcast, but unfortunately, the broadcast will be conducted in Korean.
Comment:
(BTC 1W Chart)
It can be seen that the trading volume has increased noticeably on the OKX, Coinbase, and FTX exchanges.

It remains to be seen if the volume can increase again this week.

On most charts, an important resistance zone is formed at the 45K price range, so I think a volume surge is necessary to break through it.

In terms of price, we expect support from the 38K-41K section to gain the strength to turn into an uptrend.

[Example of exchange chart setup]

(Binance)
www.tradingview.com/x/S94aDxa8

(Upbit)
www.tradingview.com/x/DF6cGh3G/
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