readCrypto

Bitcoin (BTC) - July 31

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BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.

In particular, it remains to be seen whether the uptrend can be accelerated by moving above the 40163.5-45211.0 section.


It remains to be seen if the green OBV on the volume indicator increases.

It remains to be seen whether the RS and SR lines rise above 80 on the wRSI_SR indicator, indicating an uptrend.

In the CCI-RC indicator, we need to see if the CCI line rises above the EMA line and can lead to an uptrend.


Between July 26-29, the aggregation of the Mark Cap chart shows abnormal signs.

The Marck Cap chart appears to be a new shift in money movement as it represents the movement of money in the coin market.

After a few abnormal signs, the coin market has experienced a bull market.

Accordingly, it is expected that the last bull market of the year will begin in the near future.


(1D chart)
The price needs to remain above the 35028.0 point to continue this uptrend.

It is necessary to check the movement until around August 5 in order to cross the 40163.5-42084.0 section, which is the previous high section.

If it goes down, you should check to see if it finds support at the 37265.0-38225.0 zone.

It remains to be seen whether it will rise within the A rising channel section and re-determine its direction as it rises to the 46695.0-49518.0 section.

It is expected that the bull market trend in the second half of this year will be determined depending on whether it breaks above the 46695.0-49518.0 section or declines.

If it touches the 46695.0-49518.0 section and moves down, we expect support near the 45211.0 point to trigger an additional upward breakout attempt.


It remains to be seen if the center line rises as the green of the OBV on the volume indicator increases.

In the wRSI_SR indicator, the RS line rose over 80 points.
It remains to be seen if the SR line can sustain its short-term uptrend until it moves above the 80 point.

The CCI-RC indicator shows that the CCI line has successfully crossed the EMA line.
It remains to be seen whether the uptrend can continue.

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(BTCUSDT 1W Chart)
If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.

In particular, it remains to be seen whether the uptrend can be continued by moving above the 40100.0 point.

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(BTCUSDTPERP 1D Chart)
The price needs to remain above the 35746.28 point to continue this uptrend.

We need to see if we can get support above the 39966.23-42125.51 section.

If it goes down, you should check to see if it finds support at the 39966.23-40189.39 zone.


It remains to be seen if the center line rises as the green of the OBV on the volume indicator increases.
As the centerline of OBV increases, it can be seen that the volume is exploding.

Looking at the CCI-RC indicator, the CCI line is rising above the -100 point and the EMA line.
When it crosses the 0 and +100 points, volatility can occur, so trade with caution.

On the wRSI_SR indicator, the RS line is located above the 80 point for 8 days.
If the RS line drops from the 80 point, you need to check where the BTC price is supported.
The wRSI_SR indicator is a secondary indicator that looks at short-term trends.

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(BTCKRW 1W chart)
If the price is maintained above the 31662000-35545000 range, it is expected that the uptrend will continue.

In particular, it remains to be seen if the uptrend can be continued by moving above the 48550000 point.

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(BTC Dominance (BTC.D) 1D Chart)
On July 29th, it seems that Abnormal signs appeared in the Market Cap aggregation.

You should touch the 47.64-48.81 section or up to the 50.86 point and see if you can drop.


A decline in BTC dominance is likely to lead to a rise in the price of altcoins.

Conversely, a rise in BTC dominance is likely to lead to a fall in the price of altcoins.

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(USDT Dominance (USDT.D) 1D Chart)
On July 29th, it seems that Abnormal signs appeared in the Market Cap aggregation.

We need to see resistance at the 4.158 point and see if we can move below the 3.374 point.


If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.

USDT Dominance falling below the downtrend line (2), indicating that the coin market is moving towards an uptrend.

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(USDT 1D Chart)
Between July 26-29, the Market Cap aggregation seems to show abnormal signs.

We need to see support and see if we can move higher at 61.765B.


Looking at the USDC 1D chart (www.tradingview.com/x/EpXajKn8/), you should watch to see if there is an uptrend along the uptrend line.


I think the rising gap in USDT shows that money is coming into the coin market.

Conversely, a fall in the gap indicates that money is flowing out of the coin market.

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(ETH Dominance (ETH.D) 1D Chart)
On July 29th, it seems that Abnormal signs appeared in the Market Cap aggregation.

It is marked as touching the 6.59 point on July 29th.

It remains to be seen if we can break above the two downtrend lines upwards.


A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.

It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.

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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 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.)
** See support, resistance, and abbreviation points.
** 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.

Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section.

(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.)

GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
Comment:
The date of the chart title is not marked correctly. This is a chart dated August 1.
Comment:
(XBTUSD 1M Chart)

(BTCUSDT 1M Chart)

(BTCKRW 1M chart)

(BTCUSD 1M Chart)


Candles are forming on the new 1M chart.

In all of the charts above, the Heikin Ashi body candle is moving towards a bullish candle.

If the price is maintained above 42K, it is expected to lead to an uptrend.


It remains to be seen if the green color of OBV in the volume indicator can increase.

On the wRSI_SR indicator, it remains to be seen if the RS line rises above 20 to indicate an uptrend.

[Example of exchange chart setup]

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

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

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