readCrypto

Bitcoin (BTC) - November 8

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

Above 47010.0 point: Expected to create a new wave.


As the green width of OBV in the volume indicator increases, it is necessary to check if there is an upward movement in the center line.

On the wRSI_SR indicator, we need to see if the RS line can hold above 80 until the SR line rises above 80.

In the CCI-RC indicator, it is necessary to check whether the CCI line can be maintained above the +100 point.
In particular, it is necessary to check whether the flow can be seen to rise above the EMA line.

However, the same movement as in section A may occur, so it is recommended to check that there is an upward movement.
However, as it is a 1W chart, it is reflected too late, so we need to make sure that the price stays above the 58464.0 point.


It's a week with a volatility period on the 1W chart, so it's important to see what kind of movement it will see.


(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


It is necessary to check whether there is a movement that deviates from the section 58464.0-66059.5.


It is necessary to confirm whether the current movement will change from the movement between November 1st and 9th (maximum October 31st - November 10th).

It is in a period of volatility, so careful trading is required.

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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


We need to see if we can sustain the price by moving up to the first resistance zone.

If it goes down, you should see if there is a sharp move as you get closer to the 56942.5 point.

The next volatility period is around November 12th.

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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.


BTC.D Chart: It is important to find resistance in the range of 47.64-48.81.
USDT.D Chart: A decline below the 2.670 point is critical.

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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.


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 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.
(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.)
Comment:
(BTC 1W chart)
Comment:
** Changed the Fibonacci Retracement Ratio selection point by rising to a new price point.

(ETHUSDT 1W Chart)
Prices are rising, but volume is decreasing.

Accordingly, the 4191.93-4464.22 section is expected to play an important role in continuing the upward trend.

If it goes down from the 4191.93 point, you need a short-term Stop Loss.


(1D chart)
During the volatility period around November 15-24 (up to November 14-25), it is necessary to check whether there is any movement outside the 4464.22-5553.35 section.

In particular, you need to make sure you can climb above the 5008.79 point.


The 4220.37 point plays a key role in this ascent.
Comment:
(XBTUSD 1D Chart)
You need to check if it can close at 66059.5 or higher.

If it fails to close above the 66059.5 point and goes down, you should check to see if it finds support above the 63634.5 point.

If it doesn't, it could drop near the 55164.5 point, so trade cautiously.


If the price holds above the 66059.5 point, I expect it to move towards the 72104.0 point.

(1W chart)
However, if the CCI line of the CCI-RC indicator does not rise above the EMA line on the 1W chart, it will eventually decline, so careful trading is required.

In the wRSI_SR indicator, the CCI line must rise above the EMA line before the RS line falls below the 80 point, so that the uptrend can be maintained even if the wRSI_SR indicator turns into a short-term downtrend.


In conclusion, it is summarized as follows.

- On the 1W chart, it is important to see if the CCI line rises above the EMA line.

- On a 1D chart, it is important to see if the price holds above the 66059.5 point.

[Example of exchange chart setup]

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

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