readCrypto

Bitcoin (BTC) - October 18

BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W Chart) - Medium to Long-Term Perspective
28130.0-29300.0 or higher: expected to continue upward trend

40100.0-41950.0 or higher: Expected to lead to a full-fledged upward trend.

Above 46930.0 point: Expected to create a new wave.


Looking at the CCI-RC indicator, we can see that the CCI line is above the +100 point, indicating that it is already in an uptrend.

However, as it is below the EMA line, it can be said that the uptrend was limited.

If the CCI line breaks above the EMA line and rises, it is expected to lead to a sharp rise.


(1D chart)
First resistance section: 60383.36-63162.53
Second resistance section: near point 71500.03

First support section: near the 54825.02 point
Second support section: 46487.52-49266.69


I think the first resistance section is an important section to determine the trend.

Therefore, it is expected that the trend will be determined according to the direction out of the 59500.0-64854.0 section.


If you find resistance by falling from the 59500.0 point, you will likely need a short-term Stop Loss as it is likely to move towards the first support level.

However, it is possible to touch the 53951.43-56578.21 section and rebound, so you need to think about countermeasures.

We believe this rebound is likely to be a rebound to turn into a downtrend, not a rebound for an uptrend, so we need to approach it from a short-term perspective.


If it finds support by moving up from the 64854.0 point, I would expect an upward movement towards the second resistance zone.


The next volatility period is around November 1.

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(BTCUSDTPERP 1D Chart)
First resistance section: 60491.83-63278.31
Second resistance section: near the 71637.74 point

First support section: near the 54918.88 point
Second support section: 46559.44-49345.92


It is necessary to check if there is movement out of the first resistance section.

In particular, it is expected that the trend will be determined in the direction out of the 59654.0-64986.11 section.


If you find resistance by falling from the 59654.0 point, you are likely to touch the first support zone, so trade cautiously.

However, it is possible to touch the 53975.0-56630.33 section and rebound, so you need to think about countermeasures.

If this rebound leads to the first resistance zone, I would expect the uptrend to continue.

However, if it doesn't, I think it's likely to turn into a downtrend.


If support is found by moving up from the 64986.11 point, I would expect a move towards the second resistance zone.


The next period of volatility will be around October 29 - around November 7.

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(Market Cap Chart)
You should see how the flow of money changes rather than changes in the price chart.
So, you should check the trend of USDT chart and USDC chart.

If USDT dominance declines, I think the coin market is more likely to lead to an uptrend.

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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, 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.
(Because it is not public, 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/
Disclaimer

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