readCrypto

Bitcoin (BTC) - July 31

BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W Chart)
If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.

In particular, it remains to be seen whether the uptrend can be continued by moving above the 40100.0 point.


(1D chart)
To sustain this uptrend, the price needs to remain above the 35045.0-35286.51 range.

We will have to wait and see if we can break through the 39806.99-41950.0 section upwards.

If it goes down, you should check to see if it finds support at the 39806.99-40100.0 zone.

If the price holds above the 41950.0 point, it is expected to reorient itself in the 46487.52-49266.69 section.

If you touch the 46487.52-49266.69 section and drop below the 45135.66 point, the uptrend is likely to be broken, so you need to trade cautiously.


It remains to be seen whether the green color of OBV in the volume indicator can continue to increase.
We also need to see if the volume rises above 204.208K and breaks above the 41950.0 point.

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(BTCUSDTPERP 1D Chart)
The price needs to remain above the 35746.28 point to continue this uptrend.

We need to see if we can get support above the 39966.23-42125.51 section.

If it goes down, you should check to see if it finds support at the 39966.23-40189.39 zone.


It remains to be seen if the center line rises as the green of the OBV on the volume indicator increases.
When the centerline of OBV increases, it can be seen that the volume is explosively increasing.

Looking at the CCI-RC indicator, the CCI line is rising above the -100 point and the EMA line.
When it crosses the 0 and +100 points, volatility can occur, so trade with caution.

On the wRSI_SR indicator, the RS line is located above the 80 point for 8 days.
If the RS line declines at the 80 point, you need to check where the BTC price is supported.
The wRSI_SR indicator is a secondary indicator that looks at short-term trends.

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(XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.

In particular, it remains to be seen if the uptrend can be accelerated by moving above the 40163.5-45211.0 section.


It remains to be seen if the green OBV on the volume indicator increases.

It remains to be seen whether the RS and SR lines are rising above 80 on the wRSI_SR indicator, indicating an uptrend.

In the CCI-RC indicator, we need to see if the CCI line rises above the EMA line and can lead to an uptrend.

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(BTC Dominance (BTC.D) 1D Chart)
You should touch the 47.64-48.81 section or up to the 50.86 point and see if you can drop.


A decline in BTC dominance is likely to lead to a rise in the price of altcoins.

Conversely, a rise in BTC dominance is likely to lead to a fall in the price of altcoins.


It remains to be seen whether BTC dominance can rise to meet the conditions of the bull market due to the leading rise in BTC price.

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(USDT Dominance (USDT.D) 1D Chart)
If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.

USDT Dominance falling below the downtrend line (2), indicating that the coin market is moving towards an uptrend.

We need to see resistance at the 4.158 point and see if we can move below the 3.374 point.

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(USDT 1D Chart)
I think the rising gap in USDT shows that money is coming into the coin market.

Conversely, a fall in the gap indicates that money is flowing out of the coin market.


We need to see support and see if we can move higher at 61.765B.


Looking at the USDC 1D chart (www.tradingview.com/x/a2j2ebgb/), you should watch to see if there is an uptrend along the uptrend line.

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(ETH Dominance (ETH.D) 1D Chart)
A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.

It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.

It remains to be seen if we can break above the two downtrend lines upwards.

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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 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.)
** See support, resistance, and abbreviation points.
** 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.

Explanation of abbreviations displayed in the chart
R: A point or section of resistance that requires a response to preserve profits.
S-L: Stop Loss point or section
S: A point or section where you can buy to make a profit as a support point or section.

(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.)

GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)

[Example of exchange chart setup]

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

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