readCrypto

Bitcoin (BTC) - August 2

readCrypto Mod Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1M Chart)
The key is whether you can sustain the price above 21475.02.

Based on the 21475.02 point, it is expected to have a fluctuation range of -25% to 25% whether it is falling or rising.

Therefore, it is necessary to proceed with the investment with this fluctuation in mind.

I think that what you can do in this range of fluctuations depends on how much you increase the number of coins (tokens) you want to invest in.


Looking at the chart as a whole, you can see that it moved higher near the previous high.

Therefore, it has fallen to a level that can be said to be the bottom section.

However, in this downturn, most individual investors will be reluctant to invest.

For that reason, I think that the coin market should show an upward trend to some extent.

I think the location is above the 29.812.52 point.

A rise above 29K is expected for individual investors to move slowly.


Those who mainly trade short-term will aim for altcoin circulation pumping in these market conditions.

You will also prefer to invest in the futures market over investing in the spot market.


However, in order to get a big profit, you need to increase the number of coins (tokens) in this market.

However, if you use all your cash to buy, you will sell out when you are trying to rise under the psychological pressure.


So, you need to think about how to increase the number of coins (tokens).

One way to do this is to buy when the price is falling and showing support.

And, when it rises above the purchased unit price, you need to increase the number of coins (tokens) by selling as much as the purchase principal (+transaction fee X 2 or more).

In this case, some cash income and the number of coins (tokens) remain in the transaction fee part.

You may think that the number of remaining coins (tokens) is too small, but the difference is large depending on your short-term trading ability.


If you are unfamiliar with these methods, i.e., if you are not familiar with short-term trading, we recommend that you start when the BTC price drops below 21475.02.

The reason is that it is a floor section that does not require Stop Loss.

You never know how long you'll be using this method, so be sure to set aside some cash in installments.

When you run out of cash, you'll be terrified from then on.



(1W chart)
As the HA-Low indicator declines, it is shorter than the horizontal length of the HA-High indicator.

In order to turn into an uptrend, the horizontal line of the HA-Low indicator must be longer than the horizontal line of the HA-High indicator.

To do that, you have to shake it up and down to make the HA-High indicator fall.

In order to swing up and down, it must either rise higher or fall further than it is now.

However, if you look at the current flow, it has fallen a lot, so I think it is more realistic to give a more upward trend than it is now.


Therefore, it is expected that it will rise to the vicinity of the 27033.35-29812.52 section.

Then, the decline is expected to create a stereotypical 'W' pattern.


In any case, the full-fledged uptrend is expected to begin when the price is maintained above 29K.



(1D chart)
If the price holds above 22753.10, it is expected to maintain an uptrend.

Primary resistance: around 25K
Secondary resistance: 27K-29K


Section A and the current location are different.

Therefore, it is expected to show a shorter decline than the decline after section A.

Therefore, it is likely to find support above 22753.10 and above 60 SMA.


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

Therefore, if it falls without being supported in the section 27033.35-29812.52, Stop Loss is required to preserve profit and loss.

This is because it will not turn into an uptrend and will likely form a continuous downtrend.

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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.

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

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Comment:
(ETHUSDT 1D Chart)
The HA-High indicator moved higher and is at 1657.29.

Therefore, whether it can be supported above 1657.29 is an important key.

[Example of exchange chart setup]

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

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