readCrypto

Bitcoin (BTC) - September 14

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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.

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

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


(1D chart)
It is necessary to check whether it can receive support in the 43918.0-45211.0 section and rise to the 46695.0-49518.0 section, which is an important section.


It is important to keep the price above the 42084.0 point to continue this uptrend.

However, looking at the big picture, the 38225.0-46695.0 section is a sideways section, so careful trading is required because movement can occur within this section.


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


Looking at the USDT chart, it is continuing the upward trend.
This means that money continues to flow into the coin market.

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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.

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(BTCUSDTPERP 1D Chart)
We need to see if we can sustain the price near the 45163.36 point and move up to the 46559.44-49345.92 point.


Section A is a section where the 60SMA line passing through the section 42125.51-45163.36 and the M-Signal line 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 is showing a rebound after touching the M-Signal line of the 60SMA and 1W chart passing through section A.

Accordingly, it is necessary to check whether the RS line can rise above 20 points in the wRSI_SR indicator to show a short-term uptrend.


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, BTC price movement is expected to become active.


In the CCI-RC indicator, it is necessary to check whether the CCI line touches the EMA line and there is an upward movement.


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

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(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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(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 falls 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 whether 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 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.)
Comment:
Even if you put funds into the coin market and try to buy the token, it is located at a high price, so I think that the price is lowered by futures or margin trading to buy at a lower price.

And, by buying tokens in the spot market, I think we are increasing our holdings.

In order for individual traders to withstand such a move, I think it is a way to protect the token quantity from large whales and institutional investors by increasing the number of tokens corresponding to the profit and making an effort to lower the average unit price of their purchase.

[Example of exchange chart setup]

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

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

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