readCrypto

Bitcoin (BTC) - September 9

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BITMEX:XBTUSD.P   Bitcoin
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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.

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

Looking at the 1W chart, the large resistance section is near the 58464.0 point.
It is important to find support between the 47010.0-50876.0 range during the downtrend in order to break above this resistance level.

In the short term, the 40163.5-45211.0 zone is an important support zone for continuing the uptrend.


(1D chart)
It is necessary to check whether support can be obtained in the 46695.0-49518.0 section, which is an important section.

If it goes down, you should see support near the 45211.0 point.

In particular, it is important to keep the price above the 42084.0 point to continue this uptrend.


It is necessary to check the volume change during the period of weak volatility around September 12-17 (September 11-18).

An important period of volatility is around September 27 (September 26-28).

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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.

If it rises above the 46930.0 point, it will enter the high point section.
If the price holds above the 46930.0 point, it is expected to create a new wave.

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(BTCUSDTPERP 1D Chart)
You need to make sure you have support at the critical section 46559.44-49345.92.

If they do, they should find support near the 45163.36 point and see if they can move above the 4683.706 point.


Section A is the section where the 60SMA line passing near the 42125.51 point and the MS-Signal indicator of the 1W chart pass, and it can be said to be an important section in this uptrend.

So, if it goes down from the 42125.51 point, it is likely to turn into a downtrend, so you need to trade with caution.

However, from an overall perspective, the 38200.01-46559.44 section is a sideways section, so you should also think about how to respond to the rebound.


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

If the trading volume shows an increase in the 449.199K-1.417M section indicated in the trading volume indicator, the BTC price movement is expected to become active.


In the CCI-RC indicator, the EMA line is rising above the zero point.
It remains to be seen if the CCI line can touch the EMA line and move above the +100 point.
At this time, you need to check if there is an increase in trading volume along with the volatility that occurs.

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

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(BTC Dominance (BTC.D) 1D Chart)
If it rises above the 48.81-50.86 section, I think it is highly likely that the coin market has turned into a downtrend.

If it falls below the downtrend line (1) or touches the 38.95-40.02 section, a large whip-saw can occur frequently, so trade with caution.

The volatility around September 9 (September 8-10) should see if there is any movement out of the 41.73-43.17 section.

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(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.

The volatility around September 9 (September 8-10) should see if there can be a move below the uptrend line (1) as it falls below the 2.670 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 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.)
** See support, resistance, and abbreviation points.
** 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.

Explanation of abbreviations displayed in the chart
R: A point or section of resistance that requires a response to preserve profits.
S-L: Stop Loss point or section
S: A point or section where you can buy to make a profit as a support point or section.

(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.)

GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
Comment:
(BTCUSDTPERP 1W Chart)
As the price continued to rise, it rose above the resistance section of 45163.36-46930.43 and rose to a new high position.

Then there is a downward movement below the 46930.43 point.

Like the movement of the previous section A, it is necessary to check whether it will be supported in section 45163.36-46930.43.

As the volume decreases, the price rises, making us feel like we can't sustain the uptrend.

However, the current position, that is, the section 41413.0-46930.43, is the section where the force will be stored and released to create a new wave.


Sooner or later, the volume will increase, and the trend will be determined by this increased volume.

I think there will be a calm before the storm just before the ascent is finished and the momentum for the ascent is finished.

I think the current volume is showing that.


The most important thing in trading is your average purchase price.
I think that if you increase the number of tokens while trading according to your average purchase price, you can always get good results.

[Example of exchange chart setup]

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

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

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