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readCrypto
Aug 15, 2022 10:28 PM

Bitcoin (BTC) - August 16 

Bitcoin / TetherUSBinance

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(BTCUSDT 1W Chart)

The key is whether it can rise to the diagonal Fibonacci section.

- When the Stoch RSI indicator and the short-term CCI indicator are out of the overbought zone, it is necessary to check where support and resistance are found.


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

Therefore, if it rises to this section and falls without support, it is likely to show a downtrend.



(1D chart)

It is rising with higher highs and lower lows.

However, you need to be careful as the fluctuations are decreasing during the uptrend, which may cause large volatility that is different from before.


So, if it goes up with volatility, I would expect it to rise above 25700.

A prerequisite for this rise is to hold the price at or above the 23312.42-23810.98 range.


1st resistance: around 25K
2nd resistance: 27K-29K

1st support: 23312.42-23810.98
2nd support: 22579.68-22753.10


If it falls below the 22579.68-22753.10 section, it may turn into a downtrend, so you should think about countermeasures.

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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.

** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.

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

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Comment

(BTCUSDTPERP 1h Chart)

The key is whether the 23804.3-23937.5 section can support and rise.

If not, expect to touch around 23257.6.


However, if it is supported and rises in the 23257.6-23804.3 section, it is expected that it will lead to an upward break through 25459.8 as a pull back pattern.


If it falls below 23257.6 and finds resistance, there is a possibility that it will fall near the 21481-121826.1 section.


Therefore, the main position up to the section 23257.6-23804.3 is 'LONG'.

Comment

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Comments
likelyjockey
Good work, Whats your idea for WABIBTC please?
readCrypto
@likelyjockey, (WABIBTC 1W chart)

In order for the price to rise in the BTC market, either the BTC price must fall or the altcoin price must strengthen.

Since the rise in the price of altcoins is lower than the rise in the price of BTC, it continues to show a downward trend.
(Conversely, even if the price of altcoins falls faster than the decline in BTC price, it will show a downtrend.)

Investing in these coins (tokens) requires appropriate transactions.

When the price rises above a certain threshold, we sell some.

And when the price goes down, you buy back the same amount you sold.

Conversely, you must buy and sell.

In this way, you need a way to steadily increase your holdings.

The only way to get out of this downward trend is to steadily increase the number of coins (tokens) without getting tired in the long run.

Therefore, it is risky to increase the number of coins (tokens) by injecting new funds.

If you run out of cash, you may miss a better opportunity, so you need to increase the number of coins (tokens) by selling and buying your existing coins (tokens).

If it soars, it is likely to rise further, so it will not be easy to get out of these coins (tokens) unless you buy new ones or sell them in installments.

To get out of the bottom and trough, you need to rise above 0.0000 1773.

Split selling must be at most 50% or less.

We usually sell around 10%-20% and buy again when the price drops by more than -5% or -10%.

Therefore, we need a way to maximize the number of coins (tokens) that can be increased by selling at a higher rate when the rise is large and selling at a smaller rate when the rise is low.

Of course, it is not an easy way, but I think this is the only way to get out of this coin or make a profit.
TheNewsCrypto
Thanks for sharing !
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