readCrypto

Bitcoin (BTC), Ethereum (ETH) - March 7

readCrypto Mod Updated   
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


You should make sure you have support near the 38225.0 point.

If the price falls below the 37265.0 point, it could fall near the 32290.5 point, so trade cautiously.

However, as the Bollinger Bands appear to have begun to converge, the trend is expected to continue as it moves out of the range of up to 35028.0-45211.0.


The price must remain in the range 42084.0-45211.0 to convert into an uptrend.

However, in order to get out of the bottom section, it must rise above the 40163.5 point.

Therefore, deviations from the 36252.0-42084.0 section of the 1D chart, which is the lowest point, are important to determine the trend.


We need to see if we can break out of the downtrend line (3) with the volatility around March 9th.


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)
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 in the support section.

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


In order to turn into an uptrend, it needs to rise near the 3151.97 point.


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 will move accordingly as price and volume move.
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)

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www.tradingview.com/x/S94aDxa8

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www.tradingview.com/x/DF6cGh3G/
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