readCrypto

Bitcoin Futures - October 20

BITMEX:XBTUSD.P   Bitcoin
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(1D chart)
We have to see if we can rise above the 11757.5 point for support.

If it falls from the uptrend line (8), it is a short-term Stop Loss.

It remains to be seen if it can rise above the 12308.5 point of the Fibonacci retracement rate.

To face a full-fledged uptrend, the flow of D indicated in the Volume indicator should come out.

From around October 22nd, we will see if a new move can come out.


(1h chart)-short-term strategy
It rose after breaking the downside channel drawn on the wRSI_SR indicator.

Unfortunately, yesterday's strategy ended without entry.

The important point in our current location is at 11757.5.

Entering LONG: When supported in the 11666.0-11757.5 section, and breaks above the 11757.5 point
Target point: 11941.0 point or higher

Entering SHORT: When it falls below the 11666.0 point
Target point: 11516.5 points or less
(You can touch and climb the 11626.0 point, so be careful when entering the SHORT.)

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(CME Bitcoin (BTC1!) 1D chart)
Today's gap is 11755.0-11795.0. (Not shown on the chart.)

It remains to be seen if it can rise above the 11895.0 point of the trend turning point.

We'll start around October 22nd and see if we can go above 12590.0 points.

If it falls at the uptrend line (5), it is a short-term Stop Loss.

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(BAKKT Bitcoin (BTM1!) 1D chart)
Today's gap is 11817.5-11840.0. (Not shown on the chart.)

We have to see if we can ascend beyond the 12005.0 point.

We should also see if we can fill the gap between 12040.0-12112.5.

If it falls, you need to make sure you get support at 11770.0.

If it falls from the uptrend line (3), it is a short-term Stop Loss.

It remains to be seen whether the uptrend of the wRSI_SR indicator will continue.
To do that, we have to watch the Volume increase.

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(BTC Dominance 1D Chart)
It remains to be seen if it will be getting resistance at the downtrend line (2).

Dominance is rising with BTC price rising.
Accordingly, the price increase of altcoins is slowing or falling.
Since the BTC price should rise to the 12K range, I think that the fund should continue to flow toward BTC.

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(USDT Dominance 1D Chart)
We should see if we can move below the 4.390 point and touch the downtrend line (1).

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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 profit generation 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 should trade from a short-term investment perspective.)

GAP refers to the difference in prices that occurred when CME and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: Closed price
G2: Market price at the time of opening

[Example of exchange chart setup]

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

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