readCrypto

Bitcoin (BTC) - July 7

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.

Volatility can occur on the BTC Dominance Chart and USDT Dominance Chart, so trade with caution.


(1D chart)
If we look at the big picture, we are walking sideways in the section 31640.22-40586.96.
The 33949.53-37252.01 section is an important support and resistance section.

To break above the 33949.53-37252.01 level, I think the volume needs to increase.

In particular, if it rises above the 35067.50 point and finds support, I think it is likely to turn into an upward trend.

If it declines from the 33427.52 point, it is expected to touch the 288657.98-31640.22 section.

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(BTCUSDTPERP 1D Chart)
You need to check whether you are finding support or resistance in the 33527.51-33999.52 section of support and resistance.


If the price holds above the 33999.52 point, we expect further gains.
At this point, it is important to have support above the 35096.50 point.
If support is found at the 35096.50 point, I would expect it to move above the 37211.02 point.

However, the 40136.05-45163.36 section is a strong resistance section, and unless the trading volume increases explosively, it is expected that the upward breakout will not be possible, so you need to check the increase or decrease in trading volume.


A decline from the 33527.51 point is expected to touch the 28344.79-31292.61 section.


Looking at the big picture, if the price is maintained in the 31292.61-40136.05 section, it is expected to turn into an uptrend.

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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.

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(BTC Dominance (BTC.D) 1D Chart)
We will have to wait and see if BTC Dominance can touch the 47.64-48.81 range and move lower.

If the downtrend line (1) is touched and goes down, the price of altcoins is expected to show a quick recovery.

If BTC Dominance rises above the 56.78 point, we expect the coin market to start a strong bearish market.

The volatility period is around July 7-10 (July 6-11).
Volatility can occur, so trade with caution.

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(USDT Dominance (USDT.D) 1D Chart)
If USDT dominance declines, the coin market is most likely in an uptrend.

We will have to wait and see if we can move below the downtrend line (2).

The next volatility period will be around July 9-12.

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(USDT 1D Chart)
I think the rise in the gap is a sign of money flowing into the coin market.
Conversely, I think that the gap drop is a sign of money being pulled out of the coin market.

If the rise in the gap continues, the coin market is expected to rise in the near future.

If there is a continuous gap drop, it means that funds are flowing out of the coin market, so careful trading is necessary.

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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 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 for 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 through split trading.

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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