readCrypto

Bitcoin (BTC) - July 18

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 particular, it remains to be seen if the price can sustain above the 33101.0 point.

The next volatility period is around July 23rd.

In the CCI-RC indicator, the CCI line is falling below the +100 point.
As a result, it is out of the highs section.
You should see a flow rising above the 33101.0 point.


(1D chart)
Looking at the big picture, if the price is maintained in the 31536.5-40600 range, it is expected to turn into an uptrend.

The section 28515.5-31536.5 is the section that determines the new direction.
Accordingly, if it rises in the 28515.5-31536.5 section, it is expected to create an upward trend.

It remains to be seen whether the CCI line rises above the -100 point on the CCI-RC indicator and can break above the EMA line.
In particular, we need to see if we can continue the uptrend along the uptrend line. (www.tradingview.com/x/aPEu61Sw/)

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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.

In particular, it remains to be seen if it can move above the 35286.51 point and turn into a short-term uptrend.

The next volatility period is around July 22.

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(BTCUSDTPERP 1D Chart)
60 The Bollinger Bands are starting to contract.
At this point, the price is at the bottom of the Bolllinger Bands.

Also, looking at the big picture, the section 31292.61-40136.05 is a sideways section.

We'll have to wait and see if any moves to break out of the consolidation that started on May 19 come out between July 20-24.

Looking at the BTC chart, the contraction of the Bollinger Bands has usually been seen to expand within a month or two.

Looking forward to seeing the expansion of the Bollinger Bands happen this time in a few days.


The section 28344.79-31292.61 is the section that determines the new direction.
Accordingly, if it touches 28344.79-31292.61 and moves up, we expect a sharp uptrend.

If it declines from the 28344.79 point, we expect a surge in the 27K range.

I think this move is a good opportunity to show a new uptrend.

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(BTCKRW 1W chart)
If the price is maintained above the 31500000-35545000 range, it is expected that the uptrend will continue.

In particular, it remains to be seen if the price can sustain above the 39331000 point.

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(BTC Dominance (BTC.D) 1D Chart)
I think it should either rise to the 47.64-48.81 section and either go sideways or find resistance at the 50.86 point.

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(USDT Dominance (USDT.D) 1D Chart)
If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.

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(USDT 1D Chart)
It is still falling along the downtrend line.
We need to see support and see if we can move higher at 61.765B.

It is important that the volatility around July 21st allows USDT to turn into an uptrend.


If the current slowly flowing out of funds is due to a series of restrictions on crypto assets in China, we expect to see a better opportunity.

Crypto assets will emerge from the dark to the light, and will lead the future as the powerhouse of crypto assets changes.

Is the country you live in ready to accept the new culture?

The CDBC is merely a means to extend the vested interests that they have been protecting.
This is no substitute for what you can do with crypto assets.

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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 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.)
** See support, resistance, and abbreviation points.
** 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.

Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section

(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.)

GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)

[Example of exchange chart setup]

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

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