readCrypto

Bitcoin (BTC) - October 26

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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: The upward trend is expected to continue.

Above 47010.0 point: Expected to create a new wave.


As the green width of the 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


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


A break out of the first resistance zone and finding support above the 65000.0-66059.5 zone is expected to accelerate the uptrend towards the second resistance zone.


If you break out of the first resistance zone and find resistance below the 58464.0 point, it is likely that the first support zone will fall, so trade cautiously.

If the 53976.5-56641.5 section is touched and the sharp rise leads to the first resistance section, the uptrend is expected to accelerate.

Therefore, it is important to see what kind of movement comes out of the first support section.


The next volatility period will be around November 1-9.

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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


Looking at the wRSI_SR indicator, we need to see if the RS line can move higher than the 20 point and turn into a short-term uptrend.


We need to see if we can find support at 60042.8 and move up to the first resistance zone.


If you fall from the 60042.8-61950.0 section, you can touch near the 56942.5 point, so you need a short stop loss.

However, it is possible to touch the 54987.2-56942.5 section and follow the uptrend line, so you need to think about countermeasures.


The next volatility period is around October 31 (October 30 - November 1).

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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 range of 47.64-48.81.
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 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, 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 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 it is in an upward trend or in 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 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.
(Because it is not public, 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.)
Comment:
(Market Cap 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.


(BTCUSDTPERP 1D Chart)
It is necessary to check whether there is a movement out of the 60042.8-66927.9 section.

It is important to check whether the altcoins' circulation pumping continues by moving sideways from the previous high.


First support section: near 56942.5 point
Second support section: 48310.2-51187.6

Stop Loss is required for each decline from the support zone.


If it rises above the 65574.9 point, you should see support.

Since it fell after the first breakout, it should be supported if it rises this time.

If it doesn't, I expect to see a bigger downward correction.

Accordingly, I think we can touch the first support zone.
Comment:
(BTCUSDT 1W Chart) - Medium to Long-Term Perspective
28130.0-29300.0 or higher: expected to continue upward trend

40100.0-41950.0 or higher: Expected to lead to a full-fledged upward trend.

Above 46930.0 point: Expected to create a new wave.


Looking at the CCI-RC indicator, we can see that the CCI line is above the +100 point, indicating that it is already in an uptrend.

However, as it is below the EMA line, it can be said that the uptrend was limited.

If the CCI line breaks above the EMA line and rises, it is expected to lead to a sharp rise.


(1D chart)
First resistance section: 60383.36-63162.53
Second resistance section: near point 71500.03

First support section: near the 54825.02 point
Second support section: 46487.52-49266.69


I think the first resistance section is an important section to determine the trend.

Therefore, it is expected that the trend will be determined according to the direction out of the 59500.0-64854.0 section.


If it finds support by moving up from the 64854.0 point, I would expect an upward movement towards the second resistance zone.


If you find resistance by falling from the 59500.0 point, you will likely need a short-term Stop Loss as it is likely to move towards the first support level.

However, it is possible to touch the 53951.43-56578.21 section and rebound, so you need to think about countermeasures.


The next volatility period is around October 29th - November 6th.


From the CCI-RC indicator, the EMA line is rising above the +100 point.

Therefore, you should check if the CCI line touches the EMA line and shows an upward movement.
Comment:
As I said before, the movement is coming out.

If you touch the 53951.43-56578.21 section, you need to check whether there is a sharp rise.

This will serve to identify the support zone.

[Example of exchange chart setup]

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

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