readCrypto

Bitcoin (BTC) - November 7

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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


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


It is necessary to check if there is movement out of the first resistance section.

In particular, you need to make sure that you go beyond the 59500.0 point or the 64854.0-66001.41 section.

It must move above the 66001.41 point to continue the uptrend.

If it goes down, you should check if there is a sharp movement as you get closer to the 54825.02-56578.21 section.


The green width of OBV in the volume indicator is about to turn red.

In the wRSI_SR indicator, the RS line fell below the 20 point.

In the CCI-RC indicator, the CCI line tries to touch the EMA line.


The movements of the above three indicators indicate unstable movements.

The important thing in this movement is to check which section is supported or resisted.


We need to see if there is any change in the volatility period between around October 29th - November 6th (up to October 28th - November 7th).

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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


We need to see if we can sustain the price by moving up to the first resistance zone.

If it goes down, you should see if there is a sharp move as you get closer to the 56942.5 point.

The next volatility period is around November 12th.

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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:
(ETHUSDT 1M Chart)
It is necessary to check whether it will be possible to obtain the strength to ascend to section B by walking sideways near point 4688.21, which is section A.

Accordingly, you must make sure that you can cross the 4688.21-5260.78 section.


(1D chart)
We need to see if we can move above the 4688.21 point with the 6-8 November volatility.

In particular, it is important to keep the price above the 4220.37 point.

[Example of exchange chart setup]

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

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

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