readCrypto

Bitcoin (BTC), Ethereum (ETH) - February 12

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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: An uptrend expected to continue.
(27650.0-33101.0 section: strong support section)

The 42084.0-47010.0 section is a support section for creating a new wave.

The 60SMA line and the MS-Signal indicator pass near the 45211.0-47010.0 section.

Therefore, it is expected to turn into a complete uptrend only when it rises above the 45211.0-47010.0 section.



(XBTUSD 1D Chart)
Resistance section: 46695.0-49518.0

Support section: 26932.0-29755.5


Approximately in the section 42715.0-45211.0, the M-Signal line of the 60SMA and 1W chart passes.

As such, you need to trade cautiously as you may be rocking up and down to break through this area upwards.


It is important to keep the price above the 42084.0 point, as it touched above the 45211.0 point.

However, you can temporarily touch the 40163.5 point.

At this point, there should be a rapid upward movement above the 42084.0 point.


If it declines from the 40163.5 point, a Stop Loss is required to preserve profit and loss.

However, it can touch the 38225.0 point and rise, so countermeasures are required.

(If it is not possible to establish a countermeasure, it is recommended to proceed with Stop Loss when resistance is found at the 38225.0 point after falling from the 38225.0 point.
That's because it's more likely to go up than down.)


If it rises to the 46695.0-49518.0 section, it is expected that the trend will continue in the direction out of the 45211.0-50876.0 section.

So, if it falls below the 45211.0 point, a short-term Stop Loss is required.

A move above the 50876.0 point is expected to continue the strong uptrend.


You should see if the green width of the OBV in the volume indicator is increasing.

On the CCI indicator, you should check whether the CCI line can be above the -100 point and above the EMA line.

If the CCI line is located in the range of -100 to +100, it can be seen that the BTC price is located in the sideways section.


The period of great volatility is around March 9th.

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(ETHUSDT 1W Chart)
Above 1728.74 point: Expected to create a new wave.

We need to see if we can move up along the uptrend line (2).

It is expected that the MS-Signal indicator will shake up and down in the 3343.06-3582.10 section, so careful trading is required.

In order to switch to an uptrend, it must rise above the 3343.06-3582.10 section.



(1D chart)
First resistance section: around 3375.08
Second resistance section: 4191.93-4464.22

Support section: 2285.94-2558.23


We need to make sure we can get support within the triangle drawn near the 2910.0 point.

To do that, it is important to keep the price above the 2910.0 point.


It must move above the 3343.06 point to turn into an uptrend.


You should see if the green width of the OBV in the volume indicator is increasing.

In the CCI-RC indicator, we need to see if the CCI line can be above the EMA line and above the drawn downtrend line.

If the CCI line is located in the range of -100 to +100, it can be seen that the ETH price is located in the sideways section.


The next volatility period is around February 15th (February 14-16).

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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 will move accordingly as price and volume move.
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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Comment:
(Market Cap Chart)
1. 2.
The USDC chart is still not showing the exact values.

However, it appears that the funds have been withdrawn from the coin market through USDC.

If it holds above the 38.397B point, it is expected that the uptrend will continue, so trade cautiously.


- As BTC dominance rises, I believe that BTC price should gain the power to lead the rise.

Therefore, I think BTC dominance should rise near the 48.81 point.


- USDT dominance should continue to decline.

The rise in USDT dominance is because we believe the coin market is likely to see a downtrend.

If USDT Dominance finds resistance near the 4.158 point and falls below the 3.374 point, the coin market is expected to surge.
(However, BTC Dominance must show a decline to see a surge.)

[Example of exchange chart setup]

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

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