readCrypto

Bitcoin (BTC) - November 15

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BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1W Chart) - Medium to Long-Term Perspective
Above the 27650.0-29350.0 section: The upward trend 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 rising 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.


(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


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


A decline from the first resistance zone is expected to break below the 58464.0 point.

Therefore, a short-term stop loss is required according to the average unit price of one's purchase.

(If you're used to short-term trading, it's a good idea to do a short-term Stop Loss when you find resistance at 63634.5.

At this time, if you see support in the 60811.0-62218.0 section, you can enter the short term.

However, as mentioned above, it may fall below the 58464.0 point, so you need to think about countermeasures.)


As you get closer to the 53967.5-56641.5 section, you need to check whether there is a sharp movement.

If a sharp movement fails to hold the price above the 60811.0 point, it is likely a rebound to turn into a downtrend, so trade cautiously.


The next volatility period is around December 3rd.



You should always be prepared for falling prices.
Otherwise, it will not be possible to properly respond when a price drop occurs.

(ETHUSDT 1D Chart)
It is believed that ETH has led the rise of the coin market since October 28th.

In this flow, for BTC to lead the rise of the coin market again, the BTC price must rise above the 66059.5 point (based on the XBTUSD chart).

It is necessary to check if the dominance of the coin market shifts from ETH to BTC due to the volatility between around November 15-24 (up to November 14-25).

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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 make sure we can get support in the first resistance section.


To continue the uptrend, we need to see if we can sustain the price above the 66927.9 point.


If it falls from the first resistance section, it could fall below the 56942.5 point, so trade cautiously.

However, as you get closer to the 56942.5 point, you need to check whether there is a sharp movement.


The next volatility period is around November 29th.

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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 47.64-48.81 range.
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 fits 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 downtrend 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 yet been released.
(Since it is not publicly available, 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 the 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:
(BTC 1W chart)

[Example of exchange chart setup]

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

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