readCrypto

Bitcoin (BTC) - October 9

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BINANCE:BTCUSDT   Bitcoin / TetherUS
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(USDT 1D Chart)

(USDC 1D Chart)

If funds continue to flow through USDT and rise above 68.468B, the coin market is likely to see an uptrend.

However, it is expected that the outflow of funds through USDC will stop and whether the uptrend can be continued will be determined by the inflow of funds.

An increase in the gap indicates an inflow of funds, and a decrease in the gap indicates an outflow of funds.

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(BTCUSDT 1D Chart)
A decline below the uptrend channel (1) is expected to break near 18353.11.

This is because the HA-Low indicator is located at 19366.83.

Also, the lower end of the short-term bullish channel is passing the bullish channel (1).

Therefore, the key is whether it can be supported by rising above B, that is, 19695.87.


In the SR_R_C indicator, the Stoch RSI and CCI indicators have moved out of the overbought zone, and as the Stoch RSI indicator has fallen below the mid-point, the possibility of entering the oversold zone is increasing in the near future.

So, where you are now, whether you can hold the price and move higher within an uptrend channel (1) is important.


With money in the coin market continuing to flow out, saying that the price of BTC will rise can be a hopeful advisor.

Therefore, it is necessary to be cautious in trading until the outflow of money in the coin market stops and the money flows in again.

These market conditions are favorable for same-day or short-term trading, so if you are unfamiliar with these trades, it is not recommended to trade.


B is around October 13th.

Therefore, if it falls below the uptrend channel (1) before 13th October, it is expected to decline to the 17659.38-18353.11 section.


The next volatility period is around October 23rd.

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- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.

So, whether it rises or falls from its current position, both require a short-term response.

A full-fledged uptrend is expected to begin when it rises above 29K.

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** All descriptions are for reference only and do not guarantee a profit or loss in investment.

** If you share this chart, you can use the indicators normally.

** The MRHAB-T indicator contains indicators that indicate support and resistance points.

** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).

(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:
(BTCUSDTPERP 1h Chart)
The Fibonacci retracement ratio shown on the left is plotted on a 1D chart.

The Fibonacci retracement ratio shown to the right was plotted on a 1h chart.

If it rises from the current position, that is, 19418.3, it is expected to rise to around 19802.9.

If the upward force is strong, it is expected to touch the 19937.6 area.


If it declines, it is expected to decline to around 19076.8.

However, if the downward force is strong, it is expected to touch the 18895.1 area.


Anyway, if you keep the price below 19424.9, your main position is 'SHORT'.

[Example of exchange chart setup]

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

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