readCrypto

Bitcoin (BTC) - October 13

readCrypto Mod Updated   
BITMEX:XBTUSD.P   Bitcoin
Hello?
Welcome, traders.

By "following", you can always get new information quickly.
Please also click "Like".
Have a nice day.

-------------------------------------

(XBTUSD 1W Chart) - Mid-Long-Term Perspective
Above the 27650.0-29350.0 section: The upward trend is expected to continue.

Above 47010.0 point: Expected to create a new wave.

40163.5-45211.0 Zone: An important support zone to continue the uptrend that started on July 21st.

27650.0-33101.0 section: An important support section to continue the uptrend that started around December 28, 2020.


As the green width of OBV in the volume indicator increases, it is necessary to check if there is an upward movement in the center line.

In the wRSI_SR indicator, it is necessary to check whether the upward trend can be continued as the RS line rises above 50.

In the CCI-RC indicator, it is necessary to check whether the CCI line can be maintained above the +100 point.
In particular, it is necessary to check whether the flow can be seen rising above the EMA line.


(1D chart)
First resistance section: 55164.5-56641.5 section.
Second resistance section: 60811.0-63634.5 section.

Support section: 46695.0-49518.0 section.


I think the first resistance section is most likely a psychological resistance section.
Therefore, I think that there is a high possibility of shaking by the whip saw.

In order to withstand this movement, it is necessary to widen the management of the investment and the stop loss point.

A sharp decline may touch near the 50876.0 point, so trade cautiously.


If it rises to the second resistance section, it is expected that the trend will be determined by a move out of the 58464.0-65000.0 section.

So, if the second resistance section goes down, a short-term stop loss is needed when the drop at 58464.0 point.

If it rises in the second resistance section, it is possible to buy after confirming support at the 65000.0 point (short-term perspective).



It is necessary to check whether the green width of the OBV in the trading volume indicator is increasing.
This is because when the green width of OBV increases, it means that the buying trend is strong.


In the wRSI_SR indicator, the RS line fell below the 80 point, showing a short-term downward trend.
It is necessary to check where the support is received.

If the support point is above the 50876.0 point, I would expect it to lead to a sharp rise when converted into a short-term uptrend.


In the CCI-RC indicator, it is necessary to check whether the CCI line is maintained above the +100 point.
This is because the CCI line above the +100 point means it is in an uptrend.

If the EMA line rises above the +100 point and the CCI line moves above the EMA line, we expect a full-fledged uptrend.


The next volatility period is around October 16th (October 15-17).



You think you need to have an expected target point to set buy and sell points when trading, but that's not the case.

Rather, be careful, as mis-specifying your expected target points can add to your losses.

Rather than trying to find the expected target point, you should try to lower the average unit price of your purchase.

You also need to think about how to increase your holdings to increase your investment.


It is also important to invest a large amount of money to increase the holding quantity to get a lot of return.

However, the most important thing is to get them to regenerate their profits by recouping their investment and increasing the number of tokens corresponding to the profits.

----------------------------------

(BTCUSDTPERP 1D Chart)
First resistance section: 54918.88-56630.33 section
Second resistance section: 60491.83-63278.31 section

First support section: section 46559.44-49345.92
Second support section: 42125.51-45163.36 section


It is rising in the first resistance zone.

Due to the volatility around October 14 (October 13-15), it is necessary to check whether the price can be maintained in the 56630.33-60491.83 section.


If it goes down, you should check to see if it finds support in the first resistance zone.

------------------------------------

(Market Cap Chart)
You should see how the flow of money changes rather than changes in the price chart.
So, you should check the trend of USDT chart and USDC chart.


Looking at the USDT Dominance (USDT.D) 1D chart, it is declining at the 3.009 point.
It is expected to touch the uptrend line (1) again in the near future.
Therefore, the possibility of sudden movements is increasing.
(If USDT dominance declines, I think the coin market is more likely to lead to an uptrend.)

-----------------------------------------------------

(BTC 1W Chart)
We need to see if we can find support by breaking above the resistance point.

---------------------------------------------

(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, as 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 zones to move up to the expected zone.
The two large resistance sections are section a and section b.

If it fails to break through section a upward, I think it can represent the same flow as section A.

------------------------------------------

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.

------------------------------------------------------------ -----------------------------------------------------

** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly as price and volume move.
However, for the sake of 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 yet been released.
(Because it is not public, 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.)
Comment:
(Explanation of the -100 and +100 indicators included in the MRHAB-O indicator)
The -100 and +100 indicators included in the CCI-RC indicator and the MRHAB-O indicator play the same role.
However, the main target is different.

The main target of the CCI-RC indicator is the CCI line.
You will see and interpret the current position and trend of the CCI line.
This is the same as the existing CCI indicator.

Since the CCI line is more volatile than the EMA line, it is difficult to conduct trading based on this interpretation.

So, what was created was the -100 and +100 indicators included in the MRHAB-O indicator.

What is important to interpret in CCI is whether it is located in the range below -100, -100 to +100, or above +100.

The -100 and +100 indicators included in the MRHAB-O indicator are made to be displayed when the EMA line passes through the -100 and +100 points.

So, depending on how the price candle crosses the -100 or +100 indicators, the trend will be up and down.


These movements objectively indicate the criteria for buying and selling, so I think you can apply them according to your own thoughts.


Below -100 point: downtrend
-100~+100 section: sideways section
Above +100 point: Uptrend
Comment:
(BTCUSDTPERP 1D chart)
Comment:
(BTCUSDTPERP 1D Chart)
As mentioned in this chart, we are going through a period of volatility (October 13-15).

Therefore, it is necessary to trade cautiously with peace of mind.

You need to see if it is rising along the uptrend line (2).

[Example of exchange chart setup]

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

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.