readCrypto

Bitcoin (BTC) - November 16

BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W Chart) - Medium to Long-Term Perspective
28130.0-29300.0 or higher: expected to continue upward trend


Looking at the CCI-RC indicator, we can see that the CCI line is above the +100 point, indicating that it is already in an uptrend.

However, as it is below the EMA line, it can be said that the uptrend was limited.

If the CCI line breaks above the EMA line and rises, it is expected to lead to a sharp rise.


We need to see if the center line is rising as the green width of the OBV in the volume indicator increases.

An increase in the green width of OBV means that the buying trend is increasing.


(1D chart)
First resistance section: 60383.36-63162.53
Second resistance section: near point 71500.03

First support section: near the 54825.02 point
Second support section: 46487.52-49266.69


In the CCI_RC indicator, the CCI line is falling below the EMA line.
If the CCI line falls below the +100 point, there may be a sharp movement, so trade cautiously.

I think this sharp move is more likely to lead to a plunge.

However, if there is support, it is necessary to check the flow as a sharp rise can occur.


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(1M chart)
In conclusion, BTC price will rise.

To do that, you need to keep the price above the 59500.0 point.

In the volume indicator, the green width of OBV is increasing again.
This move means that the buying trend is on the rise again.

In the wRSI_SR indicator, the RS line crosses the 50 point and the SR line.
Therefore, you can see that you are in a position where volatility can occur.
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In the 1D chart, the OBV of the volume indicator is increasing in red.
This means that sales are on the rise.

1M charts may be pointless to compare as the charts change quite slowly compared to 1D charts, but in the end we can say that they are maintaining an upward trend in the big picture.


If it falls from the 59500.0 point, it could fall near the 54825.02 point.
At this time, you need to check if there is a sharp movement as you get closer to the 59500.0 point.


The next volatility period is around November 29 (up to November 21-30).

During this period of volatility, you should check for movement outside the 59500.0-71500.03 interval.

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(BTCUSDTPERP 1D Chart)
First resistance section: 62697.4-65574.9
Second resistance section: near point 74207.2

First support section: near 56942.5 point
Second support section: near the 48310.2-51187.6 point


We need to make sure we can get support in the first resistance section.


To continue the uptrend, we need to see if we can sustain the price above the 66927.9 point.


If it falls from the first resistance section, it could fall below the 56942.5 point, so trade cautiously.

However, as you get closer to the 56942.5 point, you need to check whether there is a sharp movement.


The next volatility period is around November 29th.

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(Market Cap Chart)
You should see how the flow of money changes rather than changes in the price chart.
So, you should check the trend of USDT chart and USDC chart.


BTC.D Chart: It is important to find resistance in the 47.64-48.81 range.
USDT.D Chart: A decline below the 2.670 point is critical.

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(XBTUSD 1M Chart) - Big Trend
All patterns and waves can be known when they are completed, so it is best to conduct a trade that matches your average unit price rather than a trade based on prediction.

Looking at the big picture, I think a 4-5 wave is going on.


Depending on how you interpret section A, the wave may be different.
Likewise, you need to be more careful in your trading, as the parts that have not yet been created may have the same flow as section A.

The expected ascent section is near the 80574.0-83397.0 section.
This is an expected value considering the fluctuation range that has risen from the 1st section to the 2nd section.

There are two large resistance zones to move up to the expected zone.
The two large resistance sections are section a and section b.

If it fails to break through section a upward, I think it can represent the same flow as section A.


If it rises above the 72104.0 point with this rise, it is expected that it will not fall below the 26K-29K section (maximum 21K section) even if a bear market continues.

If the 38K section is touched, it is expected to lead to a sharp rise.

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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 the 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 MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not yet been released.
(Because it is not public, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.)
** 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.)
** 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.)

[Example of exchange chart setup]

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

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