readCrypto

Bitcoin (BTC) - January 8

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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.


You need to see if you can move up along the uptrend line (3).
Accordingly, it is necessary to ensure that the price is maintained above the 41950.0 point.

A decline from the uptrend line (3) could lead to a decline towards the uptrend line (4), so you need to think about how to respond.

However, careful trading is required as it is expected to continue to move sideways near the 28K-32K section, which is a strong support section.



(1D chart)
First resistance section: around 54825.02
Second resistance section: 60383.36-63162.53

First support section: around 38150.02
Second support section: 27033.35-29812.52


We need to see if we can find support and rise above the C channel, i.e. 40100.0-41950.0.

If the price moves below the 40100.0 point, we should see support near the 38150.02 point.


We need to see if we can move above the 45135.66 point with volatility around January 17th.

Also, if they move downward, you should check to see if you are seeing support near the 38150.02 point.

You should also check to see if the volume explodes when you see support.

As a way to tell if the volume has exploded, you should see the same bands as the July 26th, September 7th, and December 4th that we marked on the volume indicator.

When you see support near the 38150.20 point, you should see an explosive increase in volume, whether on a bullish or bearish candlestick.


In the CCI-RC indicator, the CCI line fell below the -100 point, so it should be considered as a downtrend.

However, if the price is maintained above the 40100.0 point and rises along the C channel, it is expected that the CCI line will rise above the -100 point while generating volatility again.

If Stop Loss was carried out to preserve profit and loss at 45135.66, you can check the support in the support section and buy again when it rises in the support section.

When rising from the support section, it is confirmed as support and resistance points, but in this chart, it starts when it rises above the MS-Signal indicator.

Therefore, when it breaks above the MS-Signal indicator, it is an aggressive buy and proceeds with a small investment.

And, when the MS-Signal indicator turns to an uptrend, we start buying in earnest.

For example, check out what it looks like after September 29th.


The next volatility period is around January 17th.

The overall volatility period is between December 29-January 18, however, trade with caution as there is a chance for significant volatility on December 29-31 and January 10-12.

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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 1W Chart)
The decline in the USDC chart appears to be a sell-off on the US side.

You need to make sure that USDC can hold above the 38.397B point.
Comment:
(USDC 1D Chart)
The fall of the gap means that funds have been converted to fiat currency in the coin market.
Therefore, it appears that the funds that have been in the coin market have gone out.

However, it is necessary to check the future movement more because the amount of money that has gone out is smaller than the funds that have entered the coin market so far.

[Example of exchange chart setup]

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

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