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It seems that the movement has begun.
I think you have to get support from the base line to keep this move going.
I think we should start to challenge the downtrend line (6) or (7) by gaining support from the base line and rising above 11072.0 points.
It remains to be seen if you can touch the downtrend line (7) between October 9-10.
I think it's better not to fall below the uptrend line (1) to create an uptrend. (The final support point at the current position is 10591.5.)
The XBTUSD chart believes that volatility is likely to occur around October 8th (October 7-9), so I think careful trading is necessary until the closing price of October 9 is generated.
You should be in a downtrend until you break off the downtrend lines (6) and (7).
Therefore, I think it is of paramount importance to see how the challenges to the downtrend lines (6) and (7) progress in the future.
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(USDT Dominance 1D Chart)
I think there is a high possibility of volatility around October 9th (October 8-10).
It fell below the downtrend line (3) on October 8.
We have to see if we can move down the 4.511-4.613 range and find resistance.
In order to fill the gap section of 4.742-4.633, which was previously caused by anomalies, we need to check whether the closing price can be generated below the 4.633 point.
What matters right now is whether you can continue to resist and decline at the downtrend line (3).
Next, we have to see if we can get below the 4.511 point.
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(BTC Dominance 1D Chart)
We need to see if it can move down along the downtrend line (1).
I think BTC dominance is more related to the rise and fall of altcoins' prices than the rise and fall of BTC prices.
Therefore, I think BTC dominance must fall in order for altcoins' price to rise.
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** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on 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 segment that can be bought for generating profit as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
It seems that the movement has begun.
I think you have to get support from the base line to keep this move going.
I think we should start to challenge the downtrend line (6) or (7) by gaining support from the base line and rising above 11072.0 points.
It remains to be seen if you can touch the downtrend line (7) between October 9-10.
I think it's better not to fall below the uptrend line (1) to create an uptrend. (The final support point at the current position is 10591.5.)
The XBTUSD chart believes that volatility is likely to occur around October 8th (October 7-9), so I think careful trading is necessary until the closing price of October 9 is generated.
You should be in a downtrend until you break off the downtrend lines (6) and (7).
Therefore, I think it is of paramount importance to see how the challenges to the downtrend lines (6) and (7) progress in the future.
-------------------------------------------------- -----
(USDT Dominance 1D Chart)
It fell below the downtrend line (3) on October 8.
We have to see if we can move down the 4.511-4.613 range and find resistance.
In order to fill the gap section of 4.742-4.633, which was previously caused by anomalies, we need to check whether the closing price can be generated below the 4.633 point.
What matters right now is whether you can continue to resist and decline at the downtrend line (3).
Next, we have to see if we can get below the 4.511 point.
-------------------------------------------------- -------
(BTC Dominance 1D Chart)
I think BTC dominance is more related to the rise and fall of altcoins' prices than the rise and fall of BTC prices.
Therefore, I think BTC dominance must fall in order for altcoins' price to rise.
-------------------------------------------------- -------------------------------------------
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on 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 segment that can be bought for generating profit as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.
[Example of exchange chart setup]
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
