readCrypto

Bitcoin (BTC) - July 29

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 the uptrend can be continued by moving above the 40100.0 point.


(1D chart)
To sustain this uptrend, the price needs to remain above the 37253.81-38150.02 range.

We will have to wait and see if we can break through the 39806.99-41950.0 section upwards.
The 39806.99-41950.0 section is the section where the previous high was formed and can be a resistance section.

If it goes down, you should check to see if it finds support at the 37253.81-38150.02 zone.

If the price holds above the 41950.0 point, it is expected to reorient in the section 46487.52-49266.69.

If you touch the 46487.52-49266.69 section and drop below the 45135.66 point, the uptrend is likely to be broken, so you need to trade cautiously.


It remains to be seen whether the green color of OBV in the volume indicator can continue to increase.
We also need to see if the volume rises above 204.208K and breaks above the 41950.0 point.

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(BTCUSDTPERP 1D Chart)
The price needs to remain above the 35746.28 point to continue this uptrend.

We need to see if we can get support above the 39966.23-42125.51 section.

If it goes down, you should check to see if it finds support at the 37243.38-38200.01 zone.

The 39966.23-42125.51 section is the previous high and is a resistance section.
Therefore, it is expected that more volume will be required to break above this range.


As trading volume increased, it is expected to turn into an uptrend and continue the uptrend.

Looking at the CCI-RC indicator, the CCI line is rising above the -100 point and the EMA line.
When it crosses the 0 and +100 points, volatility can occur, so trade with caution.

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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.

In particular, it remains to be seen if the uptrend can be accelerated by moving above the 40163.5-45211.0 section.

In the CCI-RC indicator (www.tradingview.com/x/G9FiYVBH/), it remains to be seen whether the CCI line rises above the EMA line and can lead to an uptrend.

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(BTC Dominance (BTC.D) 1D Chart)
You should touch the 47.64-48.81 section or up to the 50.86 point and see if you can drop.


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.


It remains to be seen whether BTC dominance can rise to meet the conditions of the bull market due to the lead rise in BTC price.

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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 need to see support and see if we can move higher at 61.765B.


Looking at the USDC 1D chart (www.tradingview.com/x/E2rOmEia/), the gap appears to have risen after the gap fell near the 26.581B point.

As a Market Cap chart that takes some time to aggregate comprehensively, I just hope that the chart you are looking at is a properly aggregated chart.

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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 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 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)

[Example of exchange chart setup]

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

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