readCrypto

Bitcoin (BTC) - July 31

readCrypto Mod Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1D Chart)
If the price holds above 22753.10, it is expected to maintain an uptrend.

Primary resistance: around 25K
Secondary resistance: 27K-29K


Section A and the current location are different.

Therefore, it is expected to show a shorter decline than the decline after section A.

Therefore, it is likely to find support above 22753.10 and above 60 SMA.


The interval 27033.35-29812.52 is the interval that determines the trend.

Therefore, if it falls without being supported in the section 27033.35-29812.52, Stop Loss is required to preserve profit and loss.

This is because it will not turn into an uptrend and will likely form a continuous downtrend.


For a full-fledged uptrend to continue, it needs to rise above 29812.52.

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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.

** 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 through split trading. It is a short-term investment perspective.)

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Comment:
(BTCUSDTPERP 1h Chart)
It is showing an upward trend on the 1D chart, so it is recommended to trade short when entering the 'Short' position.
Comment:
(BTCUSDTPERP 1h Chart)
The HA-Low indicator rose to around 23896.9.

Therefore, it is necessary to check whether there is support or resistance near 23896.9.

If it finds resistance, it is expected to drop below 23437.6.

If supported, I would expect a move towards the HA-High indicator of 24464.2.
Comment:
** (Mid to long-term investment perspective) It is time to increase the number of coins (tokens) you have. **

(1M chart)
In order to continue the uptrend, it needs to rise above the HA-High indicator and be supported.

- There is a movement that rises as it is and breaks through the HA-High indicator upward,

- Shake it up and down to make the HA-High indicator fall.

In any direction, the important thing is that it should rise above the HA-High indicator.


Therefore, in the current uptrend, it is recommended to trade in the direction of increasing the number of profits as short-term trades.

Then, when the price rises or the HA-High indicator shows support, I think it is better to start buying in earnest.

This should reduce to some extent some of the anxiety about whether the current uptrend will lead to a full-fledged uptrend or just a rebound and decline.

If you increase the number of coins (tokens) corresponding to profits, the average unit price will decrease when you make a full-scale purchase, so you will be able to relieve some psychological anxiety.


In an investment market like the coin market, there isn't much to do during a bull market.

It is enough to make a profit by selling in installments in response to the uptrend.


However, there is a lot of work to be done during a bear market or sideways trade.

From chart analysis to theme analysis to proceed with buying.

This is because, based on this, the number of coins (tokens) that have been decided to be purchased must be increased by short-term trading.

Currently, most coins (tokens) are in this position.


When conducting short-term trading, it is recommended to recover the purchased principal as it is, if possible.

You need to increase the number of coins (tokens) by leaving the profit as it is.

Once you get used to this method, you will be able to relieve some of the burden of trading and you will feel confident in your trading.

[Example of exchange chart setup]

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

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

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