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Bitcoin (BTC) - July 8

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 if the price can sustain above the 33101.0 point.


(1D chart)
It is important to find support or resistance in the 33509.5-34107.5 section.
In particular, if the price is maintained above the 33101.0 point, which is an important point, it is expected to lead to further upside.

I think I hit the bottom on June 22 and formed a bottom section in the 31536.5-33101.0 section.

Therefore, I think that we are currently working on checking the support section.

If there is no explosive increase in trading volume, it is expected to continue consolidating near the current section 33101.0-35070.5.


A decline from the 33101.0 point is expected to touch the 28515.5-31536.5 section.

Looking at the big picture, if the price is maintained in the 31536.5-40600 range, it is expected to turn into an uptrend.

The next volatility period is around July 23rd.


Looking at the BTC Dominance Chart and the USDT Dominance Chart, the volatility period is around July 7-12 (July 6-13).
Accordingly, careful trading is required.

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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 if the price can sustain above the 32259.90 point.

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(BTCUSDTPERP 1D Chart)
You need to check whether you are finding support or resistance in the 33527.51-33999.52 section of support and resistance.


If the price holds above the 33999.52 point, we expect further gains.
At this point, it is important to have support above the 35096.50 point.
If support is found at the 35096.50 point, I would expect it to move above the 37211.02 point.

However, the 40136.05-45163.36 section is a strong resistance section, and unless the trading volume does not increase explosively, it is expected that the upward breakout will not be possible.


If it declines from the 33527.51 point, it is expected to touch the 28344.79-31292.61 section.


Looking at the big picture, if the price is maintained in the 31292.61-40136.05 section, it is expected to turn into an uptrend.

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(BTCKRW 1W chart)
If the price is maintained above the 31500000-35545000 range, it is expected that the uptrend will continue.

In particular, we should watch to see if there is any movement outside the 39331000-40700000 section due to the volatility around July 7 (July 6-8).

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(BTC Dominance (BTC.D) 1D Chart)
The volatility period is around July 7-10 (July 6-11).
Volatility can occur, so trade with caution.

If it touches or falls below the uptrend line, there is a chance that the BTC price will fluctuate and drop sharply, so you need to trade cautiously.
A sharp drop in BTC price will lead to a rise in BTC dominance.


We will have to wait and see if BTC Dominance can touch the 47.64-48.81 range and move lower.

If the downtrend line (1) is touched and goes down, the price of altcoins is expected to show a quick recovery.

If BTC Dominance rises above the 56.78 point, we expect the coin market to start a strong bearish market.

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(USDT Dominance (USDT.D) 1D Chart)
If USDT dominance declines, the coin market is most likely in an uptrend.

We will have to wait and see if we can move below the downtrend line (2).

The next volatility period will be around July 9-12.

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(USDT 1D Chart)
I think the rise in the gap is a sign of money flowing into the coin market.
Conversely, I think that the gap drop is a sign of money being pulled out of the coin market.

If the rise in the gap continues, the coin market is expected to rise in the near future.

If there is a continuous gap drop, it means that funds are flowing out of the coin market, so careful trading is necessary.

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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)

[Example of exchange chart setup]

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

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