Bitcoin (BTC) - June 8

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(BTCUSDT 1W Chart)

Primary resistance: around 32259.90
Secondary resistance: 35045.0-38150.02

1st support: 28923.63-29812.52
2nd support: around 27033.35

We need to see if the stock can break out of the oversold zone of the RSI.

It is important to be supported over the 28923.63-29812.52 section.


(1D chart)
In the short-term and medium-term perspective, it needs to move above 30444.93 and find support to turn into an uptrend.

A volume profile section is formed around 28923.63.
Therefore, it is important to be supported above 28923.63.

Therefore, it should find support at the 28923.63-30444.93 section to turn into an uptrend.


However, in order to continue the upward trend, it must rise above 35045.0.


A high concentration of trading means that it is likely to act as support and resistance.

Therefore, a large amount of trading is required to break through this range.

This is also the reason why it is difficult to move above 32259.90.


If there is an attempt to break through 32259.90 in the future,
1st support: around 30444.93
2nd support: 28923.63-29812.52.

The point where we can see the trend reversing is definitely at 32259.90.

However, it is expected that the upward trend will continue only after the 35045.0-39942.38 section, which is a wide support and resistance section, is crossed.


If it gains support above 39942.38, I would expect it to surge.

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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-T indicator used in the chart is an indicator of our channel that has not been released yet.
** 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:

(BTCUSDT + BTC.D + USDT.D + NASDAQ (US 100 CFD) chart)

Although the BTC price is showing an upward movement, it is not showing a cool rise.

This is because the support and resistance bands (32259.90-39942.38) are formed over a wide range, as mentioned in today's chart description, and the price is located below them.


In order for the coin market to continue its upward trend as a whole,
- Whether the BTC.D chart finds resistance near 48.81 and can move down is the key.

- Whether the USDT.D chart can drop below 5.53 is the key.


In the US 100 CFD (Nasdaq) chart, the 12212.6-12932.3 section is an important section as the boundary between the uptrend and the downtrend.

Comment:

(BTCUSDT 1M Chart)

The indicator point of OBV, which has been created since December 2020, is showing a movement to change.

Therefore, the coin market is expected to face new changes.

Comment:

On the USDT chart, it fell by a gap of -4.26%.
It rose 1.90% on the USDC chart.

We will have to wait and see if funds move to USDC due to the unstable issue of stablecoins.

In addition, as the issuance of USDC increases, it is expected that institutional investors in the US will take the lead in the coin market.

Comment:

(USDC 1W chart)

The display is incorrect, so please correct it.
USDC rose by more than 2.81%.