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(BTCUSDT chart) If it shows support around 28465.63-29281.09, it's time to buy.
Therefore, if you bought at this time, the first selling range is 29762.38-30495.92.
However, since the 1D chart rose above the HA-Low indicator and MS-Signal indicator on the 1D chart, the possibility of a short-term uptrend has increased.
Therefore, the question is whether the price can be maintained above the MS-Signal indicator.
As explained in the Market Cap chart, USDT appears to be gapping down.
Market Cap charts often take a day or two to see tangible results after a change in the chart.
Therefore, I think it will be known exactly after August 10th whether the current gap decline is a true gap decline.
However, since the volatility of USDT was expected, we need to see how much money will flow out with this volatility and what changes will occur in the coin market.
Since BTC dominance is expected to continue to rise, we believe that even if BTC price continues its upward trend, altcoins will not rise in line with BTC's upward trend and are likely to gradually move sideways or decline.
Therefore, when BTC is located in the 29K-32K range, it is time to proceed with the secondary purchase of the altcoins you own or find new altcoins to trade.
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(BTCKRW chart) The volatility period is around August 9-11 (up to August 8-12).
Thus, it appears that a period of volatility has begun.
It is a buying season when it shows support in the 37821000-38417000 section.
At this time, if you proceeded with the purchase, the first selling section is the 39049000-40581000 section.
So, if there is no support around 39049000, you should do well.
As we pass through this period of volatility, we need to see if there is any movement out of the 37821000-40581000 range.
** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
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Comment
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(BTCUSDT chart)
(1W chart) The key is whether you can break out of the channel formed by the trend lines (1) to (2).
To do so, it is important to be able to maintain the price above 29281.09.
(1D chart) The trend line (1) on the 1W chart crosses the 29762.38-30495.92 area of the HA-High indicator on the 1D chart.
So, the question is whether it can rise above 29762.38-30495.92.
If the price stays above the Low indicator on the 1D chart (29140.32) and the MS-Signal indicator, it is likely to continue its short-term uptrend.
Therefore, if the price falls below the HA-Low indicator on the 1D chart, it is likely to see a short-term downtrend and break the previous latest low.
If supported and rising at the HA-Low indicator, it is likely to touch the HA-High indicator.
So, if it gains support around 29140.32, it is likely to rise around 30495.92.
However, there are cases where movement occurs without touching the HA-Low indicator or the HA-High indicator, but care is needed as a trend is formed while touching it.
If you've been watching my charts for a long time, you've noticed that the movement of the Stochastic RSI indicator is a good representation of the oscillations on the chart.
Currently, the StochRSI indicator sits between 30-70, so it is in the no change zone.
Therefore, there is a possibility of sideways now.
Therefore, when the StochRSI indicator enters and then exits an overbought or oversold zone, it is necessary to check at which point or zone it is supported or resisted.
If you remove the lines drawn for support and resistance points on each chart, you can see where you are currently supported or resisted by looking at each chart.
Therefore, since it is inconvenient to rotate the chart and you may not understand the support and resistance points of each chart, it is recommended that you draw support and resistance points starting with the 1M chart and ending with the 1D chart and mark them as shown in my chart.
Taken together, It is located in the high point section of the 1M chart, and is located in the No Change section of the 1W and 1D charts.
Therefore, in order to show a change in trend, it must fall below 28465.36-28923.63 or rise above 35045.0-37253.81, which is the volume profile section of the 1M chart.
On the 1W chart, it should fall below 26574.53-27590.60 or rise above 32259.90-35286.51.
Looking at these movements from a short-term perspective, i.e. a move below 28465.36-28923.63 or above 32259.90 is required for a change in trend to be detected on the 1D chart.
Therefore, you can see that you are currently positioned on sideways.
However, as the possibility of USDT volatility is increasing, it is expected that a new trend will form as it breaks out of each chart section described above in the near future.
Comment
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Support and resistance points have been changed by changing the RSI indicator formula among the HA-MS indicator formulas. (RSI80, RSI20, High, Low indicators)
Accordingly, we plan to publish with a newly applied chart from tomorrow.
Hello! I think no. 30820 is bearish OB and there is untouched bullish OB at 20800 from Mar 12. I think we have to revisit it. Have joy and health! We will see :)
I do chart analysis with a focus on the money flow in the coin market.
So, always look at the USDT, USDC, BTC.D, USDT.D chart first.
USDT is a fund that exerts a great influence on the coin market.
Therefore, I think it is necessary to look at the movement of BTC after the phenomenon of inflow or outflow of funds through USDT.
USDT has been on an uptrend for almost a year or more.
I think we are at an important turning point whether we will continue the upward trend or turn it into a downward trend.
We are watching with interest whether the current USDT chart flow will move similarly to the fund movement in June 2021.
If USDT falls more than expected, I think it is at an important time because it is expected to show a different flow from that of June 2021.
If the current BTC does not deviate from the arrow section indicated on each chart (1M, 1W, 1D) whether it is rising or falling, I think it is meaningless because it is nothing but sideways.
nestorador
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@readCrypto, Thank you for a detailed answer. I always think about USDC and .D when investigating your charts :-) Have you heard about TUSD? Yes it is only #25 in capitalization yet. but we have just started. So if you will lack some money flow, check it out, maybe it flew into TUSD. Great BTC outflow from Gemini marked today. Thank you for pointing on June 2021.
currenceland
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Good luck
behdark
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Good chart,thanks
currenceland
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Bitcoin has charged well from the bottom of the trend. In the near future, we will see the price of Bitcoin at $40,000. Check out my ideas