readCrypto

Bitcoin (BTC) - February 25 (bottom section formation period)

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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.

Strong support section: 28K-32K


Section A created a pull back pattern that shakes the MS-Signal indicator up and down.
In doing so, it created an upward trend of about four months.


In section B, the M-Signal line of the 1M chart passes.

The M-Signal line on the 1M chart is a trend line from a long-term perspective.

If you make a pull back pattern that shakes the M-Signal line of this 1M chart up and down like the MS-Signal indicator of section A, it is expected to rise more significantly than the uptrend after section A.

Supporting this is the movement of the RSI EMA line newly included in the wRSI_SR indicator.


(1D chart)

Resistance section: 46487.52-49266.69

Support section: 27033.35-29812.52


The trading volume is showing an increase of over 114.203K.

At the same time, it is showing volatility in the range of 34322.28-39843.00.

These moves will change the trend.


To turn into an uptrend, it must move upwards near the 45135.66 point.


The next volatility period is around March 3.



*** In this chart, the past chart is not properly expressed, so I will explain it with another chart.

(BTCUSD 1M Chart)
The A section indicated in the wRSI_SR indicator is shown in the current price range.

After falling below the MS-Signal indicator, you can see the support and rise.


There is no guarantee that the same movement as in section A will occur in section B.

However, if it falls from the 35060.0 point in its current state, you can see that there is a possibility of a decline around the 27678.0 point.

If support is found above the 35060.0 point, we expect a new pattern that has never been seen before.

Again, a sharp rise is expected in a pattern that is difficult to understand.

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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:
Comment:
(XAUUSD 1D Chart)
If it finds support above the 1885.500-1899.330 range, I would expect it to renew its ATH by moving above the 1944.714 point.

Otherwise, I would expect it to fall below the 1855.500 point and move towards the 1814.376 point.
Comment:
(BTCUSDT 1h chart)
To rise above the M-Signal line on the 1M chart, it needs to rise above the 39061.55 point to find support.

To convert into an uptrend, it needs to move above the 43715.45 point to find support.

[Example of exchange chart setup]

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

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