It remains to be seen if volatility around December 23 can rise along the uptrend line (1).
If it falls at the 22261.5 point, a Stop Loss is needed to preserve profit and loss. However, it is possible to temporarily touch the 21273.5-21422.5 section and increase it, so careful trading is necessary. Therefore, it is necessary to think in advance how to proceed with Stop Loss.
The wRSI_SR and CCI-RC indicators are showing a short-term downtrend, so you need to see where they are gaining support.
If it moves sideways between 22925.0-24252.5, I think there is a high possibility of further gains.
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(BTC Dominance 1D Chart) Touched point 67.44. We need to see if we can get resistance at 67.44 and move down.
If it rises above 67.44 points, I think the coin market is likely to see a sharp decline.
In order for altcoin price to rise, BTC dominance must fall. So, it remains to be seen if it can drop below the 65.89 point.
** All indicators are lagging indicators. So, it's important to know that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
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(CME Bitcoin (BTC1!) 1D chart) It started with an increase in the gap (22860.0-23605.0). We must see if we can ascend above 23715.0 points. You also need to see if you can climb along the uptrend line (2).
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(XBTUSD 1h chart)-Short term strategy Keep the old short-term strategy.
We have to see if we can get support from the 21934.0-22261.5 section and climb to the 23816.5-24252.5 section.
(LONG) 1. Entry point: When exceeding 22261.5 point Target point: 1st 22925.0 or higher, 2nd 23816.5 or higher Stop Loss: 21934.0 point (However, if it falls without breaking above the uptrend line, it is Stop Loss.)
2. Entry point: When exceeding 24085.0 point Target point: 24623.0 point or higher Stop Loss: 23816.5 point (However, if it falls without breaking above the 24252.5 point, it is a Stop Loss.)
(SHORT) 1. Entry point: When breaking below the 21934.0 point Target point: 1st 21396.0 point or less, 2nd 20858.0 point or less Stop Loss: 22203.0 point
2. Entry point: When breaking down from 23816.5 point Target point: 23009.5 points or less Stop Loss: 24085.0 point (However, if it rises without breaking below the uptrend line, it is Stop Loss.)
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(OKEX BTCUSDTPERP 1h chart)-Short term strategy Keep the old short-term strategy. It is moving sideways in the section 22830.1-22997.6.
You must watch for movements that deviate from the 21919.1-22188.7 and 23806.5-24076.1 segments.
(LONG) 1. Entry point: When breaking above the 22188.7 point Target point: 1st 22830.1 point or higher, 2nd 23806.5 point or higher Stop Loss: 21919.1 point (However, if it falls without breaking above the uptrend line, it is Stop Loss.)
2. Entry point: When exceeding 24076.1 point Target point: 24548.7 point or higher Stop Loss: 23806.5 points
(SHORT) 1. Entry point: When breaking down from the 21919.1 point Target point: 1st 21517.4 point or less, 2nd 20840.5 point or less Stop Loss: 22188.7 point
2. Entry point: When breaking down from 23806.5 point Target point: 23336.2 points or less Stop Loss: 24076.1 point
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(BAKKT Bitcoin (BTM1!) 1D chart) It started with an increase in the gap (23310.0-23700.0). We have to see if we can rise above the 24099.0 point for support. You also have to see if you can move up along the uptrend line (2).
If it declines at 22139.5, a Stop Loss is needed to preserve profit and loss. However, careful trading is necessary as it can fill the gap between 21270.0-21892.5 and rise.
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(XBTUSD 1W chart) We need to see if it can rise along the uptrend line (2).
From the wRSI_SR indicator, the RS line is falling near 50. We have to see if it can turn upward.
Looking at the CCI-RC indicator, it remains to be seen if the CCI line can rise along the uptrend line (1). If it falls, we need to see if it can rise along the EMA line or the uptrend line (2).
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(USDT Dominance 1D Chart)-(Private Ideas) We need to see if we can get resistance at 3.285 and move down the downtrend line.
With volatility around December 26th, we have to watch where we are located.
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(BTC Dominance 1D Chart)-(Private Idea) BTC dominance is also falling amid falling BTC prices. It remains to be seen if BTC dominance continues to decline.
If BTC dominance falls when BTC price falls, I think it is highly likely to lead to a plunge.
So, I think we should focus on whether BTC price is supported above 22261.5 points and whether BTC dominance is getting resistance below 67.44 points.
Very interesting, I only buy on spot as I am too inexperienced. What I have noticed on my exchange this week is that two of my orders at a lower price were filled ! That is one coin that was priced at 22200 euros was sold to me for 22000, another that was priced at 13,50 for 12.80. I guess they did that because they knew the trend was going down anyway. I was going to cancel the last one but it filled. I thought they only do that for liquidating longs or shorts... So I think that it is safer for me to not put a "stop loss limit order" for my Btc at the moment. Correct ?
readCrypto
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@Sweetcanary, Thanks for leaving a comment.
I think the current BTC price is in a sideways band.
Accordingly, I think that Stop Loss should be applied to the movement when a sidewalk section is set and out of this section.
How you interpret the chart and how you trade depends on your valuation point.
So, I need to figure out where my criticism is located, and the points of support and resistance at the current price.
In addition, it is recommended to operate by designating Stop Loss in division.
If you do not proceed with split trading, you will have a considerable psychological burden to re-enter after being sold, and it is highly likely to lead to wrong trading.
It is very important to stop loss at the current position.
If Stop Loss is not specified and there is a plunge, or if there is a plunge after a surge, you will see a big difference in profits and this may adversely affect the next trading.
The basis for the Stop Loss point should be set in consideration of my psychological factors.
It is most important to designate a point where your mental state, whether you are going up or down, does not lose your peace.
If you go through a lot of trading, you will be able to specify a more clear Stop Loss later, because instead of taking this psychological state into account, it is converted to a Stop Loss that matches the flow of the chart.
In order to sell at the high, you have to sell when the price soars.
Otherwise, it is not easy to sell at the highs.
Also, it is not easy to sell unless you place a pre-order in advance.
Therefore, you should always have some pre-orders set up.
In conclusion, Stop Loss is essential.
Sweetcanary
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@readCrypto, Very many thanks for your very kind and detailed explanation. I see what you mean. I only get stressed if I am trying to cancel an order and it goes through or if it is a big sum and I am not entirely confident. What you say is absolutely true. I shall do as per your recommendations. Best wishes !