readCrypto

Could a new trend begin...

readCrypto Mod Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT chart)

(1M chart)
If the price stays above the MS-Signal indicator, an uptrend is likely.

Therefore, the key question is whether the price can sustain the move above 28923.63.


The Trend-Based Fib Extension shown on the left side of the chart is based on a downtrend.

The Trend-Based Fib Extension shown on the right is based on an uptrend.

Therefore, it can be seen that a large sideways section is formed between 0.5(30105.25) and 0.5(58319.45).

Therefore, in order to create a new wave, it is expected that it will be possible to get out of this range.


Even if you use Fibonacci like this, you can see that the area around 28923.63 corresponds to an important divergence point.

Fibonacci causes a difference in the setting value depending on how you designate the selection point.

Therefore, when using Fibonacci, the most important thing is how to designate the selection points.

Therefore, when specifying a selection point, be careful when using it as it may be specified with your own subjective thoughts.


The support and resistance points marked at 28923.63 are points marked using the formula of the OBV indicator, which are automatically generated based on all the data on this chart, and do not contain any subjective thoughts.

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(1W chart)
The Fibonacci shown on the 1M chart is drawn from the 1M chart.

Therefore, it is hidden in the 1W chart.


The important thing to watch on the 1W chart is whether the price can hold above 27496.02.

Therefore, it is important which way it deviates from the 26574.53-28923.63 interval.


Four uptrend lines are plotted based on the current price level.

This uptrend line forms two ascending channels.

The current zone is the intersection of two rising channels and corresponds to an important divergence that will shape the future trend.


Therefore, if you can confirm that it is supported in the current 26574.53-28923.63 section, you can buy it.

A rise above 28923.63 is expected to lead to an attempt to move up around 32259.90.

Therefore, the first selling point will be around 32259.90.


A decline below 26574.53, where resistance appears, I would expect a decline around 23141.57.

At this time, the important thing is whether the HA-Low indicator on the 1W chart is rising and showing signs of being created.

If the HA-Low indicator on the 1W chart is generating an uptrend, you must make sure it has support near that point.

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(1D chart)
Trend lines drawn on 1D charts change so quickly that you don't actually need to draw them.

- Chart with trend line drawn on 1D chart removed

Trend lines drawn on 1D charts are intended to identify short-term trend reversals.

At this time, it is important to check whether there are support and resistance points near the trend line.


A trend line alone can be used to trade.

In addition, trend lines are drawn to predict the reversal of the trend, but in fact, there is a high possibility that the trend line will be interpreted according to one's own subjective thoughts, so there is a high possibility that you will not trust it yourself.

So, before drawing a trend line, all you need to do is mark support and resistance points.

Then, I believe that the additionally drawn trend line can be trusted and used as a source for creating a trading strategy.


The 1D chart is a more detailed movement than the 1M chart and 1W chart.

Therefore, you can select a split trading point or section according to the movement of the 1D chart.

These split trades should be made within the scope of not affecting the overall flow of the trading strategy you will create.

(If the trading strategy you create is a short-term trading strategy, split trading points or segments will affect the overall flow.)


Therefore, the first thing to consider in creating a trading strategy is the investment period.

Usually, when you trade, you check phenomena such as a change in trend or movement in an important support or resistance zone and proceed with the trade.

At this time, if you proceed with the transaction without considering the investment period, there is a possibility that you may not be able to adjust the investment proportion or respond to price volatility.

Therefore, the investment period is the first thing to be considered in proceeding with a transaction.


Therefore, it is necessary to check at which point or section the movement of the current price is moving, and to determine which period of the long-term, medium-term, or short-term period corresponds to that point.

It is currently showing movement around the 27496.02 point.

The 27496.02 point is the HA-High indicator point on the 1W chart, so it is an important point from a mid- to long-term perspective.

Therefore, when support is confirmed at point 27496.02, it is recommended to create a trading strategy from a mid- to long-term perspective.


However, since the HA-Low indicator of the 1D chart is formed at 27079.41, it is possible to establish a short-term trading strategy.

If the buy was carried out with a short-term trading strategy, the first selling point would be around 30184.24.

This is because the 30184.24 point is the HA-High indicator point on the 1D chart.

If the price rises and the HA-High indicator on the 1D chart falls and is created, that point becomes the primary selling point.


As mentioned in the previous analysis, from a short-term perspective, around June 1 (May 31-June 2) is the period of volatility.

However, the period of full-fledged volatility is around June 12th.

Therefore, it is expected that the volatility period around June 12 will determine which of the rising channels mentioned on the 1W chart is moving along.

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(BTCKRW chart)
It is necessary to check whether there is movement outside the 35539000-37821000 range.

Accordingly, the question is whether it can rise along the uptrend line (1).

If it doesn't and falls below 35539000, I would expect a decline around 32042000.


(1M chart)
A resistance section is formed across the 40674000-43761000 section.

A support section is formed over the 29164000-32042000 section.

Therefore, it is necessary to check which of these two intervals the movement will come out.


(1W chart)
We need to see if it can move up along the newly formed uptrend channel and hold the price above 43761000 after the week of July 31st.

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- big picture
A full-fledged uptrend is expected to start when it rises above 29K.

81K-95K is the range we expect to touch in the next bull market.

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

** Even if you know other people's know-how, it takes a considerable period of time to make it your own.

** This is a chart created with my know-how.

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Comment:
(DXY chart)
I think the trend of the DXY will determine whether the investment market will be energized or enter a recession.

Therefore, it is necessary to check which direction it deviates from the 102.034-105.664 section.

A drop below 102.034 is required for the investment market to activate.


The 102.034-105.664 section corresponds to the volatility section, so it is a section in which the direction is difficult to predict.


Therefore, it can be interpreted that the coin market is highly likely to show an upward trend only when DXY falls below 102.034.

This correlation is because investment products in the coin market are related as they are released in the stock market.

However, for the linkage to be strong, USDC must maintain its upward trend.

However, since USDC is currently in a downward trend, it is judged that any chart in the stock market is less correlated with the coin market.

Therefore, if possible, I think it is better not to try to determine the trend of the coin market in relation to the chart of the stock market.

[Example of exchange chart setup]

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

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