readCrypto

Bitcoin (BTC) - October 22

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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

Above 40100.0-41950.0 section: Expected to lead to a full-fledged upward trend.

Above 46930.0 point: Expected to create a new wave.


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.


(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


I think the first resistance section is an important section to determine the trend.

Therefore, it is expected that the trend will be determined according to the direction out of the 59500.0-64854.0 section.

However, if it continues to fall to the first resistance section after rising above the 59500.0 point, it may fall below the 59500.0 point, so careful trading is required.

As ATH is updated, a pull back pattern may appear, so it is necessary to check which section receives support and resistance.


If it finds support by moving up from the 64854.0 point, I would expect an upward movement towards the second resistance zone.


If you find resistance by falling from the 59500.0 point, you will likely need a short-term Stop Loss as it is likely to move towards the first support level.

However, it is possible to touch the 53951.43-56578.21 section and rebound, so you need to think about countermeasures.

We believe this rebound is likely to be a rebound to turn into a downtrend, not a rebound for an uptrend, so we need to approach it from a short-term perspective.


The next volatility period is around October 29th - November 6th.


Looking at the wRSI_SR indicator, the RS line is falling below 80, showing a short-term downward trend.
So, you need to know where to find support before turning into a short-term uptrend.


From the CCI-RC indicator, the EMA line is rising above the +100 point.
Therefore, you should check if the CCI line touches the EMA line and shows an upward movement.

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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


If the price rises from the first resistance level and holds the price above the 65574.9 point, I would expect a move towards the second resistance level.


If you fall from the 60042.8-61950.0 section, you can touch near the 56942.5 point, so you need a short stop loss.

However, it is possible to touch the 54987.2-56942.5 section and follow the uptrend line, so you need to think about countermeasures.


The next volatility period is around October 31st.

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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 range of 47.64-48.81.
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 4-5 waves are 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.)
Comment:
(BTCKRW 1W Chart) - Mid- to long-term perspective
Above the 31662000-35545000 range: An upward trend is expected to continue.

Above 54964000 points: You need to make sure you can make a new wave and go.


(1D chart)
(eng) First resistance section: near 80438000 point
Second resistance section: 89697000-92784000

First support section: 68092000-71178500
Second support section: near the 61919000 point


To cross the first resistance zone, we need to see if we can sustain the price above the 77944000 point.


It is necessary to check the price movement of altcoins when the price is maintained and increased in the range of 77944000-81994000.

The short-term uptrend line has changed from (a) to (b).
It is also important to identify the starting position of the short-term uptrend line that will change in the future.

This is because the section to be changed will be an important inflection section.


A short-term Stop Loss is required if the first support is falling.


The next volatility period is around November 3.


We have marked the expected target point on the BTCKRW 1M chart.
(Estimated target point: www.tradingview.com/x/oi1Qubde/)
However, since it is a domestic market where we cannot have confidence in the power of pumping, we have to respond according to the flow of prices.

[Example of exchange chart setup]

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

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

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