readCrypto

Bitcoin (BTC) - February 9

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

41950.0-46930.0 or more: Expected to create a new wave.

The strong support zone is the 28K-32K zone.


To break above the 41950.0-46930.0 band, the volume should increase.

Therefore, it is necessary to confirm that the trading volume increases by more than 693.5K.


The wRSI_SR indicator shows an upward trend as the RS line rises above the 20 point and above the SR line.

In the CCI-RC indicator, if the CCI line rises above the +100 point and above the EMA line, it is expected to accelerate the uptrend.



(1D chart)
Resistance section: 46487.52-49266.69

Support section: 27033.35-29812.52


By touching above the 45135.66 point, it became important to keep the price above the 41950.0 point.

So, if you fall from the 41950.0 point, you need a short-term Stop Loss.

However, it is possible to rise by touching the 38150.02-40100.0 section, so a countermeasure is required.


There is a possibility of touching below the 41950.0 point between around February 10-14 (up to February 9-15), so trade cautiously.


If it rises to the 46487.52-49266.69 section, it is expected to form a trend in the direction that is out of the 45135.66-50931.30 section.

Therefore, if it falls from the 45135.66 point, Stop Loss is required to preserve profit and loss.


If the price is maintained by moving higher at the 50931.30 point, it is expected to accelerate the uptrend.

If the uptrend accelerates, I expect resistance at the 60383.36-63162.53 section.


It must move above the 45135.66 point to turn into an uptrend.


The period of great volatility is around March 3.

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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, because 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 intervals to move up to the expected level.
The two large resistance sections are sections a and 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 the price trend is in an upward trend or a downward trend, 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 be able 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 been released yet.
(Since it was not disclosed, 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.)

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Comment:
(1h chart)
(UTC) If the price fails to hold above the 45135.66 point after the indicated date, it could fall below the 41950.0 point.

[Example of exchange chart setup]

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

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