readCrypto

Bitcoin (BTC) - August 20

readCrypto Mod Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTC.D 1W Chart)
We are approaching the critical section 39.56-40.44.

Therefore, you should be aware of large volatility.


(USDT.D 1D Chart)
The key is whether we can find resistance near 6.80 and move down.

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(BTCUSDT 1W Chart)
Consolidating in the uptrend channel between #2 and #4, we need to see if the price is holding above the 3rd point in the week of September 5th.

If that happens, it is expected to lead to an attempt to break through the MS-Signal indicator.


Below 2, if it falls below 60 SMA, there is a possibility of touching the 1st segment.



(1D chart)
The key is whether we can move towards the 21475.02-21838.98 zone, the last support zone to sustain the uptrend.

For that, the movement between around August 21st and September 5th is important.


If you do not quickly ascend to the 21475.02-21838.98 section, you should be cautious as it may fall to the vicinity of 19946.21.


If it rises to the 21475.02-21838.98 section and is supported, the key is whether it can rise above the 23312.42-23810.98 section.


As I said before, the 21475.02 point is the midpoint of the 15916.68-27033.35 section.

Therefore, in order to obtain the upward force, it must be supported in the section 13137.51-15916.68.

Otherwise, if it rises near 21475.02, it is judged that a long sidewalk section is necessary because the power is weak.


- The RSI indicator, the short-term Stoch RSI indicator, and the short-term CCI indicator are all in the oversold zone.

So, the key is whether it is moving above 21475.02, breaking out of the oversold zone.

I think it's better to wait and see until we get out of the oversold zone.


- Among spot trading, we are facing new opportunities from a mid- to long-term investment perspective.

You must have cash to take this opportunity.


- During spot trading, it can be a crisis from a short-term investment perspective.

It is also necessary to have cash to get out of this crisis.


- Those who have entered the 'SHORT' position during margin and futures trading are facing a good opportunity.

Those entering the 'LONG' position or planning to enter the 'LONG' position should proceed with short trades.

In order to set the 'LONG' position as the main position, it is confirmed that it is supported in the section 21475.02-23838.98.


- Cash is required to keep all transactions.

Therefore, it is always important to manage your funds so that you do not run out of cash.


- You trade in the investment market, that is, the coin market in order to get a big profit.

However, ironically, if you trade to make a big profit, you often end up at a loss.

This is because you trade only with the intention of earning big profits.

In order to get a big profit, you must create a countermeasure to reduce the loss and start trading.

Then, naturally, you can earn big profits.


- A full-fledged uptrend is expected to begin when it rises above 29812.52.


So, until then
- From a mid- to long-term point of view, transactions that increase the number of coins (tokens) held are necessary.

- From a short-term perspective, it is better to make profits by shortening the trading period.

- Most of the coins (tokens) are in the low-low range.

Since this trough section is close to the section corresponding to the bottom section, Stop Loss selling 100% is likely to incur a larger loss.

Considering this, it is necessary to make an effort to lower the average purchase price through trading.

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** All descriptions are for reference only and do not guarantee a profit or loss in investment.

** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points.

** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.

** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)

(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:
Of all the articles so far, the article about the depegging of the HUSD stablecoin seems to be the most serious one.

It seems that depegging is currently being resolved.

[Example of exchange chart setup]

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

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