readCrypto

Bitcoin (BTC) - August 9

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 the price is maintained above the 40100.0-41950.0 range, it is expected to lead to a full-fledged uptrend.


(1D chart)
If the price holds above the 41950.0 point, it is expected to move up to the 46930.0-49266.69 section and re-determine direction.

Looking at the big picture, the 38150.02-46487.52 section is a sideways section.
So, if it goes down, you should see support at the 38150.02 point.

The next volatility period is around August 23-29.

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(BTCUSDTPERP 1D Chart)
The 38200.01-46559.44 section is a sideways section in terms of the overall flow.
If the price is maintained in this section, it is expected to rise to the section 46559.44-49345.92.


The section 46559.44-49345.92 is an important section and I think it is a section that determines the direction anew.
Therefore, there is a possibility that it will find resistance as volatility may occur.

If it rises to the 46559.44-49345.92 section and then falls, it is important to see support above the 45163.36 point.

The 45163.36 point is also a psychological support point, and if it declines from the 45163.36 point, I think it is highly likely that there will be a lot of selling.

The next volatility period is around August 20-28.

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(XBTUSD 1M Chart)
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.


(1W chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.

We need to see if we can get out of the psychological resistance zone by rising from the 42084.0-45211.0 zone.

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(BTC Dominance (BTC.D) 1D Chart)
A decline in BTC dominance is likely to lead to a rise in the price of altcoins.

Conversely, a rise in BTC dominance is likely to lead to a fall in the price of altcoins.


If it falls below the downtrend line (1), it is highly likely that a whipso will occur in the BTC price movement, so you need to be careful when trading BTC.

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(USDT Dominance (USDT.D) 1D Chart)
We need to see if we can accelerate the uptrend of the coin market by finding resistance in the 3.5-3.746 zone and dropping below the 3.374 point.


If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.

USDT Dominance falling below the downtrend line (2), indicating that the coin market is moving towards an uptrend.

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(USDT 1D Chart)
We need to see support and see if we can move higher at 61.765B.


Looking at the USDC 1D chart (www.tradingview.com/x/gRiJQxny/), you should watch to see if there is an uptrend along the uptrend line.
In particular, if it goes down, we should see support from the 26.129B-26.581B zone and see if it can move higher.


I think the rising gap between USDT and USDC shows that money is flowing into the coin market.

Conversely, a fall in the gap indicates that money is flowing out of the coin market.

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(ETH Dominance (ETH.D) 1D Chart)
We need to see if we can move above the 20.52 point along the uptrend line.

In particular, if the CCI line rises above the downtrend line in the CCI-RC indicator, it is expected to create a new wave in the EH price.


A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.

It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.

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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:
It appears that money has flowed into the coin market.
However, it seems that it takes 1-2 days to know the exact situation.


(USDT 1D Chart)

(USDC 1D Chart)

[Example of exchange chart setup]

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

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

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