readCrypto

Bitcoin (BTC) - February 7

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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 check if the trading volume increases by more than 693.5K.


In the wRSI_SR indicator, the RS line rises above the 20 point and above the SR line, showing an upward trend.

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


It is important to keep the price above the 38150.02 point.

Therefore, a drop below the 38150.02 point is expected to be a continuation of the downtrend.


If the price is maintained above the M-Signal line and the MS-Signal indicator of the 1M chart passing the 38150.02-40100.0 section, it is expected to turn into an uptrend.

To do that, you need to keep the price above the 40100.0 point.

However, it may temporarily decline to the 38150.02-40100.0 section, so careful trading is required.


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


It was the support zone that turned into an uptrend from the 41950.0-45135.66 zone. (www.tradingview.com/x/oHrgkyE5/)

Therefore, since the 41950.0-45135.66 section is a support and resistance section, people's expectations are expected to rise just by maintaining the price by rising.


- The green width of OBV in the trading volume indicator increases
- In the wRSI_SR indicator, the RS line rises above 80 points.
- In the CCI-RC indicator, the CCI line rises by more than -100 points.
(It is necessary to check whether the CCI line rises above the EMA line)

Signals from these indicators suggest that a strong uptrend is forming.


The period of great volatility is around March 3.

However, you need to make sure you can keep the price at least above the 38150.02 point until around February 10th.

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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 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:
(Market Cap Chart)
Follow the golden arrow to see if there is any movement.

- In order for BTC to lead the uptrend in the market, it is recommended that BTC dominance rise.

- When the USDT dominance decreases, the coin market is highly likely to show an upward trend.
Comment:
(BTC 1W Chart)
It seems that most charts need to rise above the 42K level to confirm the uptrend.

Also, a decline from the 38K range is likely to extend the downtrend.
Comment:
(BTCSTUSDT 1D Chart)
If the MS-Signal indicator turns into an uptrend and maintains the price above it, I would expect it to rise above the 19.57 point.

To continue the uptrend, it must move above the 21.66 point.

BTCST tokens are formed based on the standard Bitcoin hesirate value.
Comment:
(BTCUSDT 1D Chart)
It looks like there will be a wiggle up and down movement to cross the uptrend line.

Therefore, it is expected that the movement will come out through the first route.

At this point, the critical support zone is around the 41950.0 point.
You should not fall near this point.
Comment:
Change the 41950.0 point to the 40100.0 point.
Sorry for the confusion.
Comment:
(BTCUSDT 1h chart)
(UTC)

[Example of exchange chart setup]

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

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