readCrypto

Bitcoin (BTC), Ethereum (ETH) - February 24

BITMEX:XBTUSD.P   Bitcoin
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** bottom section formation period


(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.


In the wRSI_SR index, sections A and B show similar movements.

However, the movement of the price chart is taking a different picture.

Therefore, it is important to find support in the 35028.0-37265.0 section.



(XBTUSD 1D Chart)
Resistance section: 46695.0-49518.0

Support section: 26932.0-29755.5


At 36252.0, a trough is formed.

Therefore, it is important to find support in the 35028.0-37265.0 section.


If it falls below the 35028.0 point, it will try to find support near the first 33101.0 point and the second 26932.0-29755.5 zone.

To break out of this movement, you must rise above the 38225.0 point.

If you touch section A constituting the downtrend, it should rise above the 32290.5 point due to a sudden movement.


However, since the wRSI_SR indicator shown in the 1M chart (www.tradingview.com/x/vK6RN4eK/) is showing a signal that it is hitting the bottom, it is expected that it will not be easy to enter section A.


In order to turn into an uptrend, it must move upwards near the 45211.0 point.


The period of great volatility is around March 9th.

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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 can get support in the support zone.

We need to see if we can move above the 2910.0 point with volatility around February 26th.


On the CCI-RC indicator, it is important to check whether the CCI line is above the -100 point and above the EMA line.


The next volatility period is around March 10th.

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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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[Example of exchange chart setup]

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

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