readCrypto

Bitcoin (BTC) - December 23

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BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1W Chart) - Mid-Long-Term Perspective
Above the 27650.0-29350.0 section: The uptrend is expected to continue.

Above 47010.0 point: Expected to create a new wave.


In order to accelerate the upward trend, it is expected that the CCI line must rise above the EMA line in the CCI-RC indicator.


(XBTUSD 1D Chart)
First resistance section: around 55164.5 point
Second resistance section: 60811.0-63634.5

Support section: around 38225.0


Short-term Stop Loss is required if it falls below the 49205.0 point by touching above the 50876.0 point.

In addition, if it falls in the section 45211.0-46695.0, Stop Loss is required to preserve profit and loss.


If the price holds above the 49518.0 point, it is expected to turn into a short-term uptrend.

If the price holds above the 50876.0 point, we expect it to continue its upward trend in the medium term.


You should see if the red width of the OBV in the volume indicator changes to the green width.
(If it transitions to a green width, it means that the buying trend is increasing.)

On the CCI-RC indicator, you need to check whether the CCI line can rise above the zero point and above the EMA line.


Although there is a possibility that a fake may occur in the 53976.5-55164.5 section, if the OBV indicator (turned to green) and the CCI indicator (rising more than +100 point) are showing an upward trend, it is expected to rise into the second resistance section.


The next volatility period is around December 27th.

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(ETHUSDT 1D Chart)
First resistance section: near 5008.79 point
Second resistance section: 5553.35-5825.64

First support section: near point 3343.06
Second support section: 2275.68-2531.05


We need to see if we can move up along the uptrend line (2) and move towards the 4191.93-4464.22 section.


It needs to move above the 4191.93 point to turn into a short-term uptrend.

From a medium-term perspective, it still maintains an uptrend (above the 3781.93 point).


If it goes down, you should check to see if it finds support above the 3885.52 point.


On the 1D chart (www.tradingview.com/x/GQ1wJDOq/), the next volatility period is around December 27-31 (maximum December 26-January 1).

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(BTCUSDTPERP 1D Chart)
First resistance section: around 56942.5 point
Second resistance section: 62697.4-65574.9

Support section: around 39677.8 point


Before the 23rd-27th of December, you need to confirm that the price is holding above the 48310.2 point to break out of the downtrend line.

In particular, you need to make sure you can sustain the price above the 50758.4 point.


You touched the 51187.6 point and above, so if it falls below the 48310.2 point, you need a short-term Stop Loss.

Also, if it falls below the downtrend line, Stop Loss is required to preserve profit and loss.


If the price is maintained above the MS-Signal indicator, it is expected to turn into a short-term uptrend.

If the price holds above the 50758.4 point, it is expected to continue the upward trend at the mid-point.


The next volatility period is around January 12, 2022.

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(Market Cap Chart)
(All: www.tradingview.com/x/vT2cmYr9/)
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.

(If the USDT and USDC charts are in an uptrend, the coin market is expected to continue the uptrend.)


On the USDT chart, a large gap up appears to have occurred.
We believe that the rising gap means that funds have flowed into the coin market via USDT.

We need to see resistance at the 3.374 point and see if we can move below the 3.164 point.


If the following phenomena do not occur, the coin market is expected to maintain an upward trend.

Prelude to a downtrend in the coin market
- BTC price drop
- BTC dominance rise
- USDT dominance rise

In that sense
BTC Dominance (BTC,D): Should rise above the 47.64-48.81 section.
USDT Dominance (USDT.D): Must rise above 3.374 point.


A phenomenon that can be seen as a change in the coin market to a downtrend
- USDT Chart: Falling below 58.376B
- USDC Chart: Falling below 23.858B
- BTC.D chart: rise above 56.78 points
- USDT.D chart: rise above 4.158 point

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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 moves accordingly with the movement of price and volume.
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:
(XBTUSD 1W Chart)
If the start of the rally is correct, it is expected to touch the 80K-83K zone in the month of January - 3rd.

After that, it is expected to decline significantly.


when falling
1st support section: 60K-63K
Second support section: 46K-49K

Final support section: 26K-29K
Comment:
(BTC 1W Chart)
Check out the support and resistance sections.

[Example of exchange chart setup]

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

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

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