readCrypto

Bitcoin (BTC) - June 18

readCrypto Mod Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W Chart)
Resistance: 27033.35-29812.52

Support: around 21475.02

The sections 13137.51-15916.68, 27033.35-29812.52, 46487.52-49266.69, and 60383.36-63162.53 are the sections that determine the trend.

Looking at the current location, the section 15916.68-27033.35 is the sidewalk section and the point 21475.02 is the middle point of the sidewalk section.

Therefore, the sidewalk section is divided into the lower sidewalk section (15916.68-21475.02) and the upper sidewalk section (21475.02-27033.35).

Therefore, it is important to find support near 21475.02.

If support is not found near 21475.02, it is likely to decline to the 13137.51-15916.68 section.

I would expect a rebound if it finds support near 21475.02, where the key is whether it can break through the uptrend line.



(1D chart)
It is necessary to check whether it can be supported in the section 19695.87-22487.41.

The next volatility period is around July 13th.

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(12M Heikin Ashi chart: www.tradingview.com/x/IbUzbDzO/)
If the price falls below 27K and closes, it will turn into a downtrend in the long term.

(12M chart: www.tradingview.com/x/xWCClGv9/)
Therefore, it must rise to the 27033.35-29812.52 section to continue the upward trend from a long-term perspective.


Therefore, I believe that the only trades that can be made at the present location are short-term trades.

Buying for the upcoming bull market will require you to take a significant risk.

Profiting from short-term trading also carries significant risks.

This is because if you miss the right time to sell, your losses may increase.


So, in this downtrend, it is necessary to conduct short-term transactions for the coins (tokens) you currently have and increase the number of coins (tokens) corresponding to profits.

It is a method to increase the number of coins (tokens) corresponding to profits by purchasing the investment in approximately 10 divisions and when the price rises, by selling the purchase principal (+transaction fee X 2) for each purchase unit price.


To do this, you need to have cash in advance.

If you do not have cash, you must sell first when the price rises, so if you are not familiar with short-term trading, you may experience double losses.

If you sell first, you will feel psychologically anxious, and you will not be able to overcome the fluctuations in the price and you will incur a loss.


However, the current location is a good price point.

If you don't trade at these price points, you're missing out.

You must increase the coins (tokens) you have by trading.

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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-T indicator used in the chart is an indicator of our channel that has not been released yet.
** 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:
The movement of funds appearing in the coin market does not show a typical downtrend.

Therefore, it is judged that we are in a period where it is not known whether a full-fledged downtrend will begin, or whether it will start with a rebound and turn into an uptrend.

To get new opportunities, you need to increase your cash holdings or increase the number of coins (tokens) you hold.

[Example of exchange chart setup]

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

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

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