readCrypto

Bitcoin (BTC), Ethereum (ETH) - March 10

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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


We need to see if we can sustain the price above the 42084.0 point with the 8-10 March volatility.

If they do, they should check to see if they find support near the 40163.5 point.


If the price holds within the 40163.5-42084.0 range, it is expected to break out of the bottom range.

The price must hold above the 42084.0 point (above the M-Signal on the 1W chart) to transition into an uptrend.


There were two (A, B) attempts to break beyond the 45211.0 point.

So, if the breakout attempt fails again this time, it is expected to fall below the 32290.5 point.

Also, if it falls below the 37265.0 point, it will fall below the 32290.5 point.

Therefore, it is important to keep the price above the 40163.5 point.


The next big volatility period is around April 13th.

However, we need to see if the volatility around March 21st can lead to more than the 45211.0 point.


(1h chart)
If you look at the point of the indicator set on the chart,

A move above the 42084.0 point (42022.5) is likely to turn into an uptrend.

Conversely, a decline below the 38580.5 point (38225.0) is likely to turn into a downtrend.

However, the point most likely to lead to a major decline is the 37265.0 point.


As the M-Signal line of the 1W chart passes in the section 42084.0-44425.0, there is a possibility that it will receive resistance and decline in this section.


Looking at the movement on the 1h chart, it seems likely that volatility will occur after March 10th 13:00 (UTC).

It remains to be seen if this volatility will trigger a breakout attempt above the 45211.0 point or a decline below the 40163.5 point.

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

It must rise above the 3000.0 point to turn into an uptrend.


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

Support section: 2285.94-2558.23


If it goes down, you should check to see if there is support in the support zone.

If it falls from the support zone, it may move towards the 1741.38 point, so trade cautiously.


The next most volatile 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:
(USDT Dominance (USDT.D) 1D Chart)
I think the periods of volatility to break below the uptrend line (1) are likely around March 26, around April 7, and around April 29.

If it doesn't go down, I expect to renew ATH.


A decline in USDT dominance is likely to lead to an upward trend in the coin market.

[Example of exchange chart setup]

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

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