readCrypto

Bitcoin (BTC), Ethereum (ETH) - March 3

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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.



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

Support section: 26932.0-29755.5


If the price holds above the M-Signal line of the 1W chart, it is expected to turn into an uptrend.

However, since the section 46695.0-49518.0 is the section that determines the trend, it must be supported and rise in this section to continue the upward trend.

Therefore, if it rises to the 46695.0-49518.0 section, it is expected that the trend will continue in the direction deviating from the 45211.0-50876.0 section.

If it falls below the 45211.0 point after rising to the 46695.0-49518.0 section, Stop Loss is required to preserve profit and loss.

If it rises above the 50876.0 point,
1st resistance section: around 55164.5 point
Secondary resistance section: from 60811.0-63634.5
resistance is expected.


It is important to find support near the 42084.0 point (up to the 40163.5 point) as it is important to keep the price above the 60 SMA to sustain the current trend.


In the CCI-RC indicator, it is necessary to check whether the CCI line rises above the zero point around March 7th.

Therefore, careful trading is required as large volatility is expected between March 7-9 (up to March 6-10).


The next volatility period is around April 13th.

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

In order to turn into an uptrend, it should move upwards near the 3343.06 point.


(1D chart)
(All: www.tradingview.com/x/yIdMQDd4/)
First resistance section: around 3375.08
Second resistance section: 4191.93-4464.22

Support section: 2285.94-2558.23


You need to make sure you have support above the 2910.0 point.

In particular, we need to see if we can move above the 3151.97 point to break away from the M-Signal line and the downtrend line on the 1W chart.

If support is found above the 3151.97 point, I would expect a reversal to the uptrend.


If they move down from the 2910.0 point, they should check to see if they find support at the 2826.99 point.

If it falls below the 2826.99 point, a short-term Stop Loss is necessary as there is a possibility of re-entry to the bottom section.


Support near the 2910.0 point is important as it is attempting to break through for the first time since falling below the 60 SMA line.


The next biggest volatility period is around April 18th.

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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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Comment:
(1h chart)
Comment:
(XBTUSD 1h chart)
Attempts to break through 45211.0 were made about 3 times.

However, attempts 1 and 2 may be considered as the 1st (A1) attempt overall.

This is because the second attempt followed the first breakout attempt.


Having attempted to break through the 45211.0 point on March 2nd, it became quite important to find support near the 43061.5 point (up to 42084.0).


If the price moves below the 42084.0 point, the March 2 breakout attempt will most likely find support near the 40163.5 point as its 3rd breakout attempt.


Therefore, when it falls to the 42084.0-43061.5 section, you need to think about whether you can respond to the assets you have.

The reason we need to react is that there is a possibility of a decline near the 32290.5 point.

However, there is a possibility that a rebound of about two times (40163.5, 38225.0) exists, so it is recommended to think about countermeasures.

Since altcoins are likely to transition into an uptrend following Bitcoin's rise, proceeding with a trade predicting that they will rise according to the current Bitcoin movement is likely to increase losses, so proceed with caution.
Comment:
(USDT.D 1W chart)
Comment:
(1h chart)
It is showing support near the M-Signal line on the 1D chart.

We need to see if we can break through the resistance that is being formed at the 42084.0 point.

[Example of exchange chart setup]

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

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