Bitcoin (BTC, including short-term strategy) - December 24
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It remains to be seen if it can rise along the uptrend line (1) between around December 27th.
You also need to see if you can get support and climb in the 22261.5-22925.0 range.
If it falls at 22261.5, it is a Stop Loss to preserve profit and loss.
However, you need to trade carefully as you can temporarily touch the 21273.5-21422.5 section and move up.
To rise higher, there is a temporary downturn.
Conversely, there may be a momentary upward trend in order to fall.
The choice of whether to rise while maintaining the uptrend line (1), or change to the uptrend line (2) to increase, is expected to show some degree of volatility around December 27th.
I think the price of altcoins in the current coin market is showing a significant decline as bad news overlaps during the volatility period.
I think that the coin market is stagnating due to the plunge in XRP, which has a high market cap.
Currently, short-term trading of these XRP coins continues.
(XRPUSD 1D chart)
Once supported in the range 0.20121-0.23264, the coin market is expected to show a stable sideways trend.
However, I'm expecting to hit the 0.17407 point at the maximum.
If you subtract the flow of XRP and look at the BTC price chart, you can see that it is just moving sideways, and the price change is not that big.
It can be said that the news of XRP has further weakened investments in altcoins.
While the current fall in altcoin prices can cost those who hold it, it will provide a great opportunity for those who are waiting to buy.
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(BTC Dominance 1D Chart)
Having risen above 67.44 points, the prices of altcoins have mostly returned to their original position.
Unlike August-September 2019, in August-September 2020, BTC dominance is declining.
We don't know how these waves will affect the future.
However, the waves will continue to come out, and we can only roughly predict the motion that follows.
I think it is moving faster in December, which ends 2020.
We don't know if BTC dominance will face resistance between 69.80 and 72.54, or 69.80, but if you look at the movement roughly, BTC dominance is expected to decline.
I think BTC dominance is correlated with the price change of altcoins.
Altcoin's season is expected to begin again.
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(USDT Dominance 1D Chart)
I think it is necessary to understand the movement of funds in order to understand the overall flow of the market.
As a private trader, I think you should look at the USDT dominance chart to see even the slightest movement of your funds.
If the movement of the current coin market looks precarious, I think you are talking about the coin chart that is moving sideways from the highs.
There has always been a sideways section, and the sideways section will come out again in the future.
I think the USDT Dominance Chart will give you an idea of the future direction when the coin market is on the sideways.
Looking at the current USDT dominance chart, there is a downtrend going on.
This downward trend can predict that funds are flowing into the coin market.
Thus, you can see that the funds are being used to buy coins.
It occurred due to a gap increase on August 31, 2020, and is currently located within the 2.726-3.596 gap.
If USDT dominance is below the 3.596 point by the end of this year, further declines are expected.
For a more stable movement, I think it's better to get resistance at the uptrend line (6) or at 3.285-3.374.
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** All indicators are lagging indicators.
So, it's important 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)
** CCI-RC indicator is an indicator created by changing the set value from the existing CCI indicator. Therefore, the interpretation is the same as the existing CCI indicator.
** 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 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.
-------------------------------------------------- -----
It remains to be seen if it can rise along the uptrend line (1) between around December 27th.
You also need to see if you can get support and climb in the 22261.5-22925.0 range.
If it falls at 22261.5, it is a Stop Loss to preserve profit and loss.
However, you need to trade carefully as you can temporarily touch the 21273.5-21422.5 section and move up.
To rise higher, there is a temporary downturn.
Conversely, there may be a momentary upward trend in order to fall.
The choice of whether to rise while maintaining the uptrend line (1), or change to the uptrend line (2) to increase, is expected to show some degree of volatility around December 27th.
I think the price of altcoins in the current coin market is showing a significant decline as bad news overlaps during the volatility period.
I think that the coin market is stagnating due to the plunge in XRP, which has a high market cap.
Currently, short-term trading of these XRP coins continues.
(XRPUSD 1D chart)
However, I'm expecting to hit the 0.17407 point at the maximum.
If you subtract the flow of XRP and look at the BTC price chart, you can see that it is just moving sideways, and the price change is not that big.
It can be said that the news of XRP has further weakened investments in altcoins.
While the current fall in altcoin prices can cost those who hold it, it will provide a great opportunity for those who are waiting to buy.
-------------------------------------------------- ----
(BTC Dominance 1D Chart)
Unlike August-September 2019, in August-September 2020, BTC dominance is declining.
We don't know how these waves will affect the future.
However, the waves will continue to come out, and we can only roughly predict the motion that follows.
I think it is moving faster in December, which ends 2020.
We don't know if BTC dominance will face resistance between 69.80 and 72.54, or 69.80, but if you look at the movement roughly, BTC dominance is expected to decline.
I think BTC dominance is correlated with the price change of altcoins.
Altcoin's season is expected to begin again.
-------------------------------------------------- -
(USDT Dominance 1D Chart)
As a private trader, I think you should look at the USDT dominance chart to see even the slightest movement of your funds.
If the movement of the current coin market looks precarious, I think you are talking about the coin chart that is moving sideways from the highs.
There has always been a sideways section, and the sideways section will come out again in the future.
I think the USDT Dominance Chart will give you an idea of the future direction when the coin market is on the sideways.
Looking at the current USDT dominance chart, there is a downtrend going on.
This downward trend can predict that funds are flowing into the coin market.
Thus, you can see that the funds are being used to buy coins.
It occurred due to a gap increase on August 31, 2020, and is currently located within the 2.726-3.596 gap.
If USDT dominance is below the 3.596 point by the end of this year, further declines are expected.
For a more stable movement, I think it's better to get resistance at the uptrend line (6) or at 3.285-3.374.
-------------------------------------------------- -------------------------------------------
** All indicators are lagging indicators.
So, it's important 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)
** CCI-RC indicator is an indicator created by changing the set value from the existing CCI indicator. Therefore, the interpretation is the same as the existing CCI indicator.
** 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 do not trade 24 hours a day.
G1: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Comment:
(BAKKT Bitcoin (BTM1!) 1D chart)
It started with a fall in the gap (23482.5-23270.0).
You need to make sure you can get support at point 22792.5.
You also have to see if you can move up along the uptrend line (2).
If it falls at 22139.5, you need a Stop Loss to preserve profit or loss.
However, you need to trade carefully as you can temporarily touch the 21270.0-21892.5 section and move up.
You need to make sure you can get support at point 22792.5.
You also have to see if you can move up along the uptrend line (2).
If it falls at 22139.5, you need a Stop Loss to preserve profit or loss.
However, you need to trade carefully as you can temporarily touch the 21270.0-21892.5 section and move up.
Comment:
(XBTUSD 1h chart)-Short term strategy
Keep the old short-term strategy.
We need to see if we can get support from the 21934.0-22261.5 segment and climb to the 23816.5-24252.5 segment.
(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.)
We need to see if we can get support from the 21934.0-22261.5 segment and climb to the 23816.5-24252.5 segment.
(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.)
Comment:
(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
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
[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/
We have to see if we can quickly ascend above the 23715.0 point.
You also need to see if you can climb along the uptrend line (2).
If it falls from the 21840.0 point, a Stop Loss is needed to preserve profit and loss.
However, it is necessary to trade carefully as it may temporarily touch the 20930.0-21460.0 section and rise.