readCrypto

Bitcoin (BTC) - January 22

readCrypto Mod Updated   
BITMEX:XBTUSD.P   Bitcoin
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(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.



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

Support section: 26932.0-29755.5


It fell from the 38225.0 point.

If it fails to move above the 37265.0 point quickly, further declines are expected.


If the 38225.0 point declines and finds resistance, it is likely to touch the 26932.0-29755.5 support zone, so you need to think about how to respond.

If the price moves down from the support zone, we expect it to be a harsh winter season.


It must rise above the 42084.0 point to turn into an uptrend.

However, since the section 46695.0-49518.0 is a section that determines the trend, it is expected that the upward trend will continue only after crossing this section, so you should also think about countermeasures.


The period of great volatility is around March 9th.

However, it is necessary to check whether it can rise above the 38225.0 point due to the volatility around January 26.

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(ETHUSDT 1W Chart)
Above 1728.74 point: Expected to create a new wave.

You need to see if you can move up along the uptrend line (2).


(1D chart)
First resistance section: around 3375.08
Second resistance section: 4191.93-4464.22

Support section: 2285.94-2558.23


I think the 2285.94-2558.23 section, which is the support section, is an important section to determine the trend.

Therefore, it is important to ensure that support is available near the support zone.


A decline from the 2275.68 point could lead to a fall near the 1741.38 point, so trade with caution.


It must rise above the 3375.08 point to turn into an uptrend.

The next volatility period is around February 15th.

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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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Comment:
(Market Cap Chart)

(BTC.D Chart)
BTC Dominance is moving away from the downtrend line.
Accordingly, we need to make sure we can get resistance at point 48.81.

(USDT.D chart)
As USDT dominance rises above the critical point of 4.158, the chances of a renewal of ATH are growing.
Accordingly, it is important to receive resistance at point 5.003.

(USDC chart)
It appears that some funds are exiting the coin market via USDC.

However, since it maintains an upward trend from a mid- to long-term point of view, it is highly likely that this is a temporary phenomenon.

(BTCSTUSDT 1D Chart)
It is not moving above the 21.66 point and is falling below the downtrend line.
Accordingly, it is necessary to touch near the 14.10 point and see if it can lead to a move to break out of the downtrend line.

[Example of exchange chart setup]

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

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

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