readCrypto

Bitcoin (BTC) - July 4

readCrypto Mod Updated   
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.

If volume fails to increase, the current price increase is likely to be an upside for a larger decline.

Looking at the USDT 1D chart, it is showing a short-term downtrend.
If this trend continues, it is highly likely that the price will not support and lead to a decline.


(1D chart)
Among the important sections, 31640.22-40586.96, the 33949.53-37252.01 section is the volume profile section.

To break above the 33949.53-37252.01 level, I think the volume needs to increase.

In particular, if it rises above the 35067.50 point and finds support, I think it is likely to turn into an uptrend.

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(BTCUSDTPERP 1D Chart)
As it rose above the 33999.52 point, we expect a short-term rise touching the 35096.50-35746.28 section.

At this time, if support is found near the 35096.50 point, it is expected to touch the 37802.84-39966.23 section.

If it goes down, you should check to see if it finds support at the 33527.51-33999.52 zone.

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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.

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(BTC Dominance (BTC.D) 1D Chart)
We will have to wait and see if BTC Dominance can touch the 47.64-48.81 range and move lower.

If the downtrend line (1) is touched and goes down, the price of altcoins is expected to show a quick recovery.

If BTC Dominance rises above the 56.78 point, we expect the coin market to start a strong bearish market.

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(USDT Dominance (USDT.D) 1D Chart)
If USDT dominance declines, the coin market is most likely in an uptrend.

We will have to wait and see if we can move below the downtrend line (2).

The next volatility period will be around July 9-12.

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(USDT 1D Chart)
I think the rise in the gap is a sign of money flowing into the coin market.
Conversely, I think that the gap drop is a sign of money being pulled out of the coin market.

If the rise in the gap continues, the coin market is expected to rise in the near future.

If there is a continuous gap drop, it means that funds are flowing out of the coin market, so careful trading is necessary.

It seems that funds started to stagnate from June 6th, and funds started flowing out from June 23rd.
Accordingly, it fell below the 62.541B point and below the July 1st uptrend line.

If the price falls below 61.765B, it is likely to touch 56.607B, so be careful.

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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)
Comment:
(BTCUSDTPERP 1D Chart)
If support is found in the 33999.52-35746.28 section and rises, it is expected to touch the 37802.82-39966.23 section as a further uptrend.
In particular, if the upside force is strong, I would expect the price to hold above the 35096.50 point.

OBV in the trading volume indicator has turned green, showing that the width is increasing.
This means that the buying trend is getting stronger.

If the CCI line rises above the -100 point in the CCI-RC indicator, volatility may occur, so careful trading is required.
In particular, it remains to be seen if the CCI line can rise above the EMA line.

There are many areas of resistance that need to be crossed forward.
However, the strongest resistance section among them is the 40136.05-45163.36 section.

The 31292.61-40136.05 section is a sideways section, and if the price is maintained in this section, it is expected to turn into an uptrend.

In particular, if you start to find support at the 35096.50 point, you should see if you can break through the 40136.05-45163.36 zone with a sharp rise in about two weeks.

If it falls from the 33527.51 point, it is expected to touch the 28344.79-31292.61 section, so you should also think about preparing for it.
Comment:
(XBTUSD 1D Chart)

(BTCUSDT 1D Chart)

(BTCKRW 1D chart)

(BTCUSDTPERP 1D Chart)

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As long as the volume doesn't explode above the volume on the 22nd of June in the time remaining, I think it's most likely a whipsaw.

It is expected that the high-magnification LONG position has been cleared by touching the R3 point.

Careful trading is required as an uptrend is expected to close the SHORT position in the near future.

[Example of exchange chart setup]

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

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

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