Bitcoin (including BTC, short-term strategy) - January 16
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We need to see if there is any movement outside the 35964.5-40340.0 range due to volatility around January 15th.
In particular, you need to make sure you can get support at point 38152.5.
This volatility is expected to continue until around January 20th.
Accordingly, careful trading is necessary, and if a short-term response is not possible, it is better to stop trading for a while and check the situation.
If it declines at 34107.5, you need a Stop Loss to preserve profit or loss.
If you touch the 27039.5-39350.0 section, I think there is a high possibility that it will turn into a downward trend.
Accordingly, you have to think about how to deal with it in the 39350.0-34107.5 section.
If you touch the uptrend line (6), there may be a lot of volatility, so trade carefully.
We have to see if we will make an'N' pattern or an'M' pattern.
It is expected that some of this movement will be noticed around January 20th.
BTC prices are still at a high price point.
I think the only way to sell at the highs is to sell when it surges.
So, I think it's a good idea not to focus on how much more you will climb, but to see where you are getting support and resistance, and think about how to respond.
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(BTC Dominance 1D Chart)
We need to see if the volatility around January 14th-21st will cause any movement out of zone A.
In particular, it remains to be seen if it can decline along the downtrend line (3).
I think BTC dominance is related to the rise and fall of altcoin prices rather than the rise and fall of BTC prices.
Accordingly, it is believed that the decline in BTC dominance caused the price of altcoins to rise.
Altcoins should fall below the 67.44 point in order to expect an overall rise.
However, it is thought that the support and resistance points have weakened due to the sharp decline in XRP.
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(USDT Dominance 1D Chart)
It remains to be seen where the volatility around January 15-23 gains support and resistance.
In particular, you should watch for any movement that deviates from 2.349-2.842.
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** All indicators are lagging indicators.
So, you need to be aware 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.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line)
** 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 or losses can be preserved or additionally entered through installment transactions. It is 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 do not trade 24 hours a day.
G1: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
We need to see if there is any movement outside the 35964.5-40340.0 range due to volatility around January 15th.
In particular, you need to make sure you can get support at point 38152.5.
This volatility is expected to continue until around January 20th.
Accordingly, careful trading is necessary, and if a short-term response is not possible, it is better to stop trading for a while and check the situation.
If it declines at 34107.5, you need a Stop Loss to preserve profit or loss.
If you touch the 27039.5-39350.0 section, I think there is a high possibility that it will turn into a downward trend.
Accordingly, you have to think about how to deal with it in the 39350.0-34107.5 section.
If you touch the uptrend line (6), there may be a lot of volatility, so trade carefully.
We have to see if we will make an'N' pattern or an'M' pattern.
It is expected that some of this movement will be noticed around January 20th.
BTC prices are still at a high price point.
I think the only way to sell at the highs is to sell when it surges.
So, I think it's a good idea not to focus on how much more you will climb, but to see where you are getting support and resistance, and think about how to respond.
------------------------------------------------
(BTC Dominance 1D Chart)
In particular, it remains to be seen if it can decline along the downtrend line (3).
I think BTC dominance is related to the rise and fall of altcoin prices rather than the rise and fall of BTC prices.
Accordingly, it is believed that the decline in BTC dominance caused the price of altcoins to rise.
Altcoins should fall below the 67.44 point in order to expect an overall rise.
However, it is thought that the support and resistance points have weakened due to the sharp decline in XRP.
-------------------------------------------------- -
(USDT Dominance 1D Chart)
In particular, you should watch for any movement that deviates from 2.349-2.842.
-------------------------------------------------- -------------------------------------------
** All indicators are lagging indicators.
So, you need to be aware 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.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line)
** 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 or losses can be preserved or additionally entered through installment transactions. It is 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 do not trade 24 hours a day.
G1: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
[Example of exchange chart setup]
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
If you keep the section where you enter the position and the Stop Loss point, I think you can close the position with profit.
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(LONG)
1. Entry point: When it exceeds 34080.0 point
Target point: 1st 35575.0 point or higher, 2nd 37070.5 point or higher
Stop Loss: 33581.5 points
2. Entry point: When breaking above 37569.0 point
Target point: 38566.0 point or higher
Stop Loss: 37070.5 point
(SHORT)
1. Entry point: When breaking below 37070.5 point
Target point: 1st 35575.0 point or less, 2nd 34080.0 point or less
Stop Loss: 37569.0 point
2. Entry point: When breaking below 33581.5
Target point: 32584.5 points or less
Stop Loss: 34080.0 point
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If you continue to read my article, I think you won't need entry points, target points, and Stop Loss.
I think you understand where the movement begins.
We are trying to tell you easily in a format that anyone can understand.
However, I think whether or not you can proceed with the transaction by digesting it with your own, it depends on whether you have invested a lot of time and verified it.
It's also important to get a lot of profits from short-term strategies, but if you think that short-term strategies will increase your ability to trade mechanically, I think if you proceed, you will definitely start to get good results.
(OKEX BTCUSDTPERP 1h chart)-Short term strategy
(LONG)
1. Entry point: When breaking above the 33978.6 point
Target point: 1st 35463.3 point or higher, 2nd 36948.0 point or higher
Stop Loss: 33483.7 points
2. Entry point: When exceeding the 37442.9 point
Target point: 38432.7 point or higher
Stop Loss: 36948.0 point
(SHORT)
1. Entry point: When breaking below the 36948.0 point
Target point: 1st 35463.3 point or less, 2nd 33978.6 point or less
Stop Loss: 37442.9 point
2. Entry point: When breaking below the 36948.0 point
Target point: 35463.3 points or less
Stop Loss: 37442.9 point