readCrypto

Bitcoin (BTC) - September 16

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BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.

In the short term, the 40163.5-45211.0 zone is an important support zone for continuing the uptrend.

Above the 47010.0 point, it is expected to create a new wave if the price is maintained as a high point.


(1D chart)
An important period of volatility is around September 27 (September 26-28).


Perhaps the easiest to see in chart analysis is to display a target point, a stop loss point, and a brief description of the trend.

However, there is no explanation as to why it was set that way, so even if such a movement occurs, I think it is not easy to respond.

If the movement is reversed, you will be unable to respond further.

I think people who read this article will have the ability to organize their own thoughts and respond to themselves when there is a story about the reason for creating the trend and the background of setting the target point and stop loss point.

It is not enough to write all of these on one page.
Therefore, the trend and support and resistance sections are indicated as indicators used in the chart part.

The other horizontal lines are set to mark important support and resistance points so that you can proceed with a trade that matches your average purchase price when you actually trade.

To see only the trend of the coin, you only need to refer to the MS-Signal and M-Signal indicators, which are expressed as the MRHAB-B indicator.

Since the M-Signal indicator can change the chart period unit, it is an indicator made so that the flow of the 1W chart or 1M chart part can be viewed together on the 1D chart you are currently viewing.

Therefore, the MS-Signal indicator displayed on a 1D chart makes it possible to see short-term trends on a 1D chart.

The currently displayed M-Signal indicator only shows the M-Signal indicator from the MS-Signal indicator on the 1W chart, allowing you to see a medium-term trend.

So, if you interpret the current chart, you can say in one line that it has undergone a downward correction in the short term, but is maintaining an upward trend in the medium term.

We tried to make it easy and quick to check the shortcomings that I felt while trading in the investment market for a long time.

The MRHAB-O indicator is an indicator of support and resistance points, but is currently disabled on the chart.

If you want to use the indicators in this chart, you can share this chart and paste the indicators into the chart you are using.

Since we haven't released any metrics yet, you can't see the internal formula.
However, the indicator can be used normally.


The coin market is an investment market with well-matched support and resistance points.
I think this is still an honest investment form.

No matter how much you trend here and there, movement is changing at support and resistance points or zones.

There is no way to show support and resistance bands by updating New high, but it can show some support and resistance bands after the movement has changed.

Trends can express future movements.
So, at the bottom of this chart, I have marked the future movement with the explanation of the XBTUSD 1M chart.

Can you really see that trend and overcome the current fluctuations and sell properly in the target range?

To do this, you need to make a trade that matches the average purchase price to lower the average purchase price and increase the number of tokens you hold.

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(BTCUSDT 1W Chart)
If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.

If the price is maintained above the 40100.0-41950.0 range, it is expected to lead to a full-fledged uptrend.

In particular, if the price rises above the baseline of the Ichimoku Cloud formed at the 46930.0 point and maintains the price, it is expected to create a new wave.

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(BTCUSDTPERP 1D Chart)
We need to see if we can sustain the price by moving up to the 46559.44-49345.92 section.

In particular, it is necessary to check whether it can ascend more than the section 46837.06-47519.0.


If it goes down, you should check to see if it finds support in the A section, 42125.51-45163.36.


As it rose to the important section, 46559.44-49345.92, the section showing a decline from September 7 is highly likely to be a pull back pattern.

To prove this, it must rise above 49345.92 points.

It remains to be seen if there will be any movement above the uptrend line passing above the 49345.92 point and the downtrend line (1).


It remains to be seen if the center line rises as the green of the OBV on the volume indicator increases.

In the CCI-RC indicator, it is necessary to check whether the CCI line touches the EMA line and there is an upward movement.


The next volatility period is around September 26 (September 25-27).

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BTC Dominance is a chart that allows you to see the market flow with the movement of the BTC price with the highest market capitalization.

So, if BTC dominance goes down, altcoins may start to rise.

Conversely, if BTC dominance rises, the coin market may turn into a downtrend.


(BTC Dominance (BTC.D) 1D Chart)
BTC Dominance touches near point 40.02 and is located in section 40.02-41.73.

Referring to the previous movement, it can be seen that an important support and resistance section has been formed near the 41.73 point.

So, if there is a move above the 41.73 point, the BTC price is likely to fall further.

If the dominance is maintained below the 41.73 point, the coin market is expected to form a new bull market.

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I think the USDT Dominance Chart is a chart that can easily check whether the funds that entered the coin market through USDT issuance are used in the coin market.

Therefore, if the USDT dominance declines, it can be seen that the funds flowing into the coin market through USDT issuance are being used.
(USDT dominance may decline as money is drawn out of the coin market, so it is recommended to view it with a USDT chart.)


(USDT Dominance (USDT.D) 1D Chart)
We need to see if we can find resistance in the 3.009-3.374 section and move down.

From a short-term perspective, it is expected that the coin market will continue its upward trend when it receives resistance and falls in the range of up to 3.500-3.746.

From a mid- to long-term point of view, if it rises to the 4.158-5.003 section, I think the coin market is likely to turn into a downtrend.


It remains to be seen if the altcoin bull market can be in full swing by dropping below the 3.009 point.

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I think the USDT chart and USDC chart are charts that give you a brief overview of the amount of money that has entered the coin market.

Thus, the rise of the USDT chart and the USDC chart is a quick reminder that the size of funds in the coin market is increasing.


(USDT 1W chart)

(USDC 1W chart)

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(XBTUSD 1M Chart)
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.

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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 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.

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** 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 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.)
Comment:
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