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Bitcoin (BTC) - December 17

BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1W Chart) - Mid-Long-Term Perspective
Above the 27650.0-29350.0 section: An uptrend expected to continue.

Above 47010.0 point: Expected to create a new wave.


In order to accelerate the upward trend, it is expected that the CCI line must rise above the EMA line in the CCI-RC indicator.


We need to see if we can break out of the downtrend line by holding the price above the 47010.0 point.


(XBTUSD 1D Chart)
First resistance section: 60811.0-63634.5
Second resistance section: near the 72104.0 point

First support section: near 55164.5 point
Second support section: 46695.0-49518.0


We need to see if we can find support in the second support zone and move above the 50876.0 point.

It must move above the 50876.0 point to turn into a short-term uptrend.


If it does not fall below the downtrend line (3), it is expected to rise.

However, the red width of OBV in the trading volume indicator should be converted to green width.


A decline from the 45211.0 point could lead to a fall near the 38225.0 point, requiring a short-term Stop Loss.

However, it may touch the uptrend line (2) and rebound with a sharp move, so you should think about how to respond.


The next volatility period is around December 27th.

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(ETHUSDT 1D Chart)
First resistance zone: near 5008.79 point
Second resistance section: 5553.35-5825.64

First support section: near point 3343.06
Second support section: 2275.68-2531.05


We need to see if we can move up along the uptrend line (2) and move towards the 4191.93-4464.22 section.


If it goes down, you should check to see if it finds support above the 3885.52 point.


If the price declines from the 3885.52 point, there is a chance that it will fall below the 3582.10 point, so trade cautiously.

However, it is possible to rebound with a sharp movement near the 3781.93 point, which is the newly formed support and resistance point, so we need to think about countermeasures.


It must move above the 4191.93 point to turn into a short-term uptrend.


On the 1D chart (www.tradingview.com/x/GQ1wJDOq/), the next volatility period is around December 27-31 (maximum December 26-January 1).

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(BTCUSDTPERP 1D Chart)
First resistance section: 62697.4-65574.9
Second resistance section: near point 74207.2

First support section: near 56942.5 point
Second support section: near the 48310.2-51187.6 point


During the volatility period of 17-19 Dec, we need to find support in the second support zone and see if we can move higher.

In particular, you need to see if you can break out of the short-term downtrend line.


If it falls from the 47000 point, it could fall again near the 39677.8 point, so you need to think about how to deal with it.


In order to turn into an uptrend, the price must rise above the 53233.1 point to hold the price.


The next volatility period is around January 12, 2022.

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(Market Cap Chart)
(All: www.tradingview.com/x/KVoXSi3Y/)
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 the USDT and USDC charts are in an uptrend, the coin market is expected to continue the uptrend.)


If the following phenomena do not occur, the coin market is expected to maintain an upward trend.

Prelude to a downtrend in the coin market
- BTC price drop
- BTC dominance rise
- USDT dominance rise

In that sense
BTC Dominance (BTC,D): Should rise above the 47.64-48.81 section.
USDT Dominance (USDT.D): Must rise above 3.374 point.


A phenomenon that can be seen as a change in the coin market to a downtrend
- USDT Chart: Falling below 58.376B
- USDC Chart: Falling below 23.858B
- BTC.D chart: rise above 56.78 points
- USDT.D chart: rise above 4.158 point

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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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[Example of exchange chart setup]

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

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