readCrypto

Bitcoin (BTC) - June 22

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

1st support: around 21475.02
Second support: 13137.51-15916.68

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.

The section 15916.68-27033.35 is the sideways section and the point 21475.02 is the midpoint of the sideways section.

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


Comparing to the previous trend, it was highly likely to end in a rebound if it was supported near the middle of the sideways section and climbed.

However, since the 19695.87-21475.02 section is located near the previous high point section, the key is whether it can appear as a new movement when sideways in this section.


If it does not find support at the 19695.87-21475.02 zone, it is likely to touch the 13137.51-15916.68 zone to lead to an uptrend.



(1D chart)
In the short-term and medium-term perspective, a move above the uptrend line is required for a transition to an uptrend.

To do so, it must first rise above 21475.02 to find support.

Therefore, it is important to be able to support and rise in the 19695.87-22487.41 section.

If it falls below 19695.87, you can temporarily touch the 13137.51-15916.68 section, so you need to trade carefully.


The next volatility period is around July 13th.



- New indicators added HA-High, HA-Low -
HA-High and HA-Low indicators were added to the MRHAB-T indicators.
(I made it so that even those who use TradingView for free can share it and use it.)

The HA-Low indicator is passing near 21475.02.

Therefore, support above the HA-Low indicator is needed to increase the likelihood of a reversal to an uptrend on the Heikin Ashi chart.

The HA-High and HA-Low indicators are indicators to determine the uptrend and downtrend on the Heikin Ashi chart.

If it is supported by the HA-Low indicator, it is likely to lead to a continuous upward trend, and if it is supported by the HA-High indicator, it is likely to surge.

Conversely, a decline in the HA-High indicator is highly likely to lead to a sharp decline, and a decline in the HA-Low indicator is likely to lead to a continuous decline.

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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator will move accordingly as price and volume move.
However, for the sake of 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:
(UTC)
Since BTC dominance is falling, it can be seen that altcoins are doing a good job of defending their price.

When USDT dominance declines, it is highly likely that the entire coin market will rise.

Therefore, looking at the current flow, if the BTC price shows a sideways trend in a certain section, altcoins are highly likely to see a short-term rise.

You need to be careful with your trades, as you are more likely to lose while trading to profit from short-term gains.


What can be done in the current flow is a transaction to increase the holding quantity for the coins (tokens) held.

If you buy a new coin (token) and record a loss, it is easy to make a profit by selling it without waiting for the coin market to lead an upward trend.
Comment:
Whether rising or falling, a new wave is expected from the current position.

Even if it moves sideways, the range of volatility is expected to increase.

The current position is the section you bought, not the section you want to sell.
It's time to be prudent in your trading.
Comment:
(NASDAQ (US100CFD) 1W chart)
If resistance is found below 11371.9, it is expected to touch around 10472.7.

[Example of exchange chart setup]

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

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.