readCrypto

Bitcoin (BTC) - September 17

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.

In particular, if the price is maintained above the 46930.0 point, it is expected to create a new wave.


(1D chart)
You need to check if the price can be maintained in the 46487.52-49266.69 section.

In particular, it remains to be seen if the price can sustain above the 46930.0 point.


If it goes down, you should check to see if it finds support at the 41950.0-45135.66 level.


The volatility period is around September 24th.


To sum it all up,
1. Money is coming into the coin market and is being consumed little by little.

2. Consumed funds are being used to purchase altcoins.

3. BTC dominance is below the 41.73 point, which increases the likelihood of frequent whipsaws.
(BTC dominance can rise to the point of 43.17, and if it does not go higher, it is expected that it will likely lead to an altcoin bull market.)

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(BTCUSDTPERP 1D Chart)
You need to make sure you can keep the price on the 46559.44-49345.92 segment.

In particular, it remains to be seen if the price can sustain above the 46837.06 point.


If it goes down, you should check to see if it finds support in the A section, 42125.51-45163.36.


To continue the uptrend, it needs to break out of the downtrend line (1).


It remains to be seen if the center line rises as the green of the OBV on the volume indicator increases.

On the wRSI_SR indicator, the RS line rose over 80 points.
It is necessary to check if the RS line can hold above the 80 point until the SR line rises above the 80 point.

It remains to be seen if the CCI-RC indicator can indicate a move above the +100 point on the CCI line.


The next volatility period is around September 26 (September 25-27).

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

In the short term, the 40163.5-45211.0 zone is an important support zone to continue the uptrend.

Above the 47010.0 point, it is expected to create a new wave if the price is maintained as a high point.


In the wRSI_SR indicator, the RS line has fallen below the 80 point, showing a downward trend.

In this downtrend, if the price is maintained above the 42084.0-45211.0 range, a sharp price increase is expected.

In order to do this, it is necessary to check whether the center line rises as the green color of the OBV in the volume indicator increases, as a change in the volume is expected.

Currently, the wRSI_SR indicator is showing a downward trend, so I think it is a good thing to defend the price while trading volume is decreasing.


As the CC line is above the +100 point in the CCI-RC indicator, it can be said that the 1W chart is maintaining an upward trend.

However, as the CCI line is located below the EMA line, it is only showing an unstable state.

If the CCI line stays above the +100 point, I would expect a move to move above the EMA line.

Accordingly, it is necessary to check whether the flow is the same as section A, or a flow that breaks through the EMA line upwards.

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BTC Dominance is a chart that allows you to see the market flow with the movement of the BTC price with the highest market capitalization.

So, if BTC dominance goes down, altcoins may start to rise.

Conversely, if BTC dominance rises, the coin market may turn into a downtrend.


(BTC Dominance (BTC.D) 1D Chart)
BTC Dominance touches near point 40.02 and is located in section 40.02-41.73.

Referring to the previous movement, it can be seen that an important support and resistance section has been formed near the 41.73 point.

So, if there is a move above the 41.73 point, the BTC price is likely to fall further.

If the dominance is maintained below the 41.73 point, the coin market is expected to form a new bull market.

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I think the USDT Dominance Chart is a chart that can easily check whether the funds that entered the coin market through USDT issuance are used in the coin market.

Therefore, if the USDT dominance declines, it can be seen that the funds flowing into the coin market through USDT issuance are being used.
(USDT dominance may decline as money is drawn out of the coin market, so it is recommended to view it with a USDT chart.)


(USDT Dominance (USDT.D) 1D Chart)
We need to see if we can find resistance in the 3.009-3.374 section and move down.

From a short-term perspective, it is expected that the coin market will continue its upward trend when it receives resistance and declines in the range of up to 3.500-3.746.

From a mid- to long-term point of view, if it rises to the 4.158-5.003 section, I think the coin market is likely to turn into a downtrend.


It remains to be seen if the altcoin bull market can be in full swing by dropping below the 3.009 point.

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I think the USDT chart and USDC chart are charts that give you a brief overview of the amount of money that has entered the coin market.

Thus, the rise of the USDT chart and the USDC chart is a quick reminder that the size of funds in the coin market is increasing.

(USDT 1W chart)

(USDC 1W chart)

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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.

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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 MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not yet been released.
(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.)

[Example of exchange chart setup]

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

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