readCrypto

Bitcoin (BTC) - October 12

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

40100.0-41950.0 or higher: Expected to lead to a full-fledged upward trend.

Above 46930.0 point: Expected to create a new wave.


Looking at the CCI-RC indicator, we can see that the CCI line is above the +100 point, indicating that it is already in an uptrend.

However, as it is below the EMA line, it can be said that the uptrend was limited.

If the CCI line breaks above the EMA line and rises, it is expected to lead to a sharp rise.


(1D chart)
First resistance section: 54825.02-56578.21
Second resistance section: 60383.36-63162.53

First support section: 46487.52-49266.69
Second support section: 41950.0-45135.66


It is rising in the first resistance zone.

Due to the volatility around October 12 (October 11-13), it is necessary to check whether the price can be maintained in the range of 56578.21-60383.36.


If it goes down, you should find support in the first resistance zone and see if it moves along the uptrend line.


If it rises to the second resistance section, it is expected that the next trend will be determined by the movement out of the 59500.0-64854.0 section.

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(BTCUSDTPERP 1D Chart)
First resistance section: 54918.88-56630.33 section
Second resistance section: 60491.83-63278.31 section

First support section: section 46559.44-49345.92
Second support section: 42125.51-45163.36 section


It is rising in the first resistance zone.

Due to the volatility around October 14 (October 13-15), it is necessary to check whether the price can be maintained in the 56630.33-60491.83 section.


If it goes down, you should check to see if it finds support in the first resistance zone.

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(Market Cap Chart)
You should see how the flow of money changes rather than changes in the price chart.
So, you should check the trend of USDT chart and USDC chart.


Looking at the USDT Dominance (USDT.D) 1D chart, it is declining at the 3.009 point.
It is expected to touch the uptrend line (1) again in the near future.
Therefore, the possibility of sudden movements is increasing.
(If USDT dominance declines, I think the coin market is more likely to lead to an uptrend.)

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(BTC 1W Chart)
We need to see if we can find support by breaking above the resistance point.

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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, as 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 zones to move up to the expected zone.
The two large resistance sections are section a and section b.

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

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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 it is in an uptrend or in a downtrend, 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 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 the sake of 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 yet been released.
(Because it is not public, 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 through split trading. It is a short-term investment perspective.)

[Example of exchange chart setup]

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

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