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Bitcoin (BTC) - July 25

BINANCE:BTCUSDT   Bitcoin / TetherUS
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( BTCUSDT 1W Chart)
If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.

In particular, it remains to be seen if it can move above the 35045.0 point and turn into a short-term uptrend.


During this period of volatility (July 20-24), one thing to watch out for was the increase in volume .
However, it was not accompanied by a large volume of trading.

However, it remains to be seen if USDT will stop falling and will stop the money flowing out of the coin market.

It remains to be seen if USDC continues its upward trend, which could lead to an upside in ETH dominance.


(1D chart)
(The second selection point of the Fibonacci Retracement Ratio is incorrect and has been corrected.)

It remains to be seen if the 32259.90-33427.52 section can find support and move higher than the 33949.53-37253.81 section.

The 33949.53-37252. 01 section is an important support and resistance section.
The contraction of the 60 Bollinger Bands is underway, and there is a critical point in which a move above the 35286.51 point crossing the 60 SMA line is possible.


I think the moment when it can be seen that the uptrend is turned into an uptrend should be an explosive increase in trading volume .
Therefore, it should be accompanied by a volume of 204.208K-354.347K, which is the volume for May 19th and June 22nd.

As I said on June 22, the bottom section was formed.
There is also a double bottom that makes the formation of the bottom section more clear.

As the volume increases, if it rises above the M-Signal of the 1W chart and finds support, I think it can be said that it has turned to an uptrend since then.
Based on the current flow, it is expected that that time was when it rose above the 37253.81 point.


The section 28657.98-31640.22 is an important section that determines the direction.
However, it is important to find support and rise above the 27048.05-31640.22 section.

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( BTCUSDTPERP 1D Chart)

We need to see if we can find support at 32275.63 and move above the 33999.52-35746.28 section.

If it goes down, you should check to see if it finds support at the 29840.58-27054.10 zone.

If it moves above the 33527.51 point, it remains to be seen if the volume can increase above 1.417M as a move to turn into an uptrend.

It remains to be seen if the center line rises as the green of the OBV on the volume indicator increases.

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( XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.

On the CCI-RC indicator, we need to see if the CCI line rises above the +100 point. (https://www.tradingview.com/x/z09Sgvcb/)
For that to happen, there should be a flow that rises above the 33101.0 point.

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( BTC Dominance ( BTC .D) 1D Chart)
It failed to rise to the 47.64-48.81 section and is falling along the downtrend line (1).


A decline in BTC dominance is likely to lead to a rise in the price of altcoins.

Conversely, a rise in BTC dominance is likely to lead to a fall in the price of altcoins.

The important thing here is that the price of BTC should be interpreted slightly differently depending on where it is located and its trend.

Given the current position of the BTC price, I believe that when there is an upward movement in the BTC price, the BTC dominance also rises, thereby exerting the power to turn the BTC price chart into an upward trend.

If the BTC dominance drops a lot, you should be cautious when trading BTC as whipsaws will occur frequently.
Therefore, when these whipsaws occur frequently, it is likely that the altcoin is bullish .

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(USDT Dominance (USDT.D) 1D Chart)
If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.

It remains to be seen if the USDT dominance can move below the downtrend line (2).

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(USDT 1D Chart)
I think the rising gap in USDT shows that money is coming into the coin market.

Conversely, a fall in the gap indicates that money is flowing out of the coin market.


We should see support at the 61.765B level and move above the 62.079B level to see if it can turn into an uptrend.


The USDC 1D chart (https://www.tradingview.com/x/IXnF77Dv/) maintains an upward trend.

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(ETH Dominance (ETH.D) 1D Chart)
A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.

It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.


It remains to be seen if we can break above the two downtrend lines upwards.

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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 it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to 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 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 the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** 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.)
** See support, resistance, and abbreviation points.
** 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.

Explanation of abbreviations displayed in the chart
R: A point or section of resistance that requires a response to preserve profits.
S-L: Stop Loss point or section
S: A point or section where you can buy to make a profit as a support point or section.

(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.)

GAP refers to the difference in prices that occurred when the stock market, CME , and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
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Comments

Amazing.
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Love it!

Very nice charting.. expert work! 1️⃣👏
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I think in a few weeks we are about to enter the 4 year crypto super bull cycle the world has ever seen.
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@rb675, We expect a bull market in the second half of this year.
However, the period is expected to be short.

As new investments have been launched on the market, it is expected that this will lead to an uptrend in order to increase the value of these investments.

If there is too much money in the market for an extended period of time, the desire to take profits will grow and this will trigger a bear market.

Such a downtrend is expected to come after the bull market in the second half of this year, and a trending downtrend with BTC price falling to the 17K-19K range is expected.

This move is expected to provide a new vitality to the coin market.
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rb675 readCrypto
@readCrypto,
Thank you
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