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Bitcoin (BTC) - August 3

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, if the price is maintained above the 40163.5 point, it is expected to continue the uptrend in earnest.


(1D chart)
The price needs to remain above the 35028.0 point to continue this uptrend.

It is necessary to check the movement until around August 5 in order to cross the 40163.5-42084.0 section, which is the previous high section.

If it goes down, you should check to see if it finds support at the 37265.0-38225.0 zone.


It remains to be seen whether it will rise within the A rising channel section and re-determine its direction as it rises to the 46695.0-49518.0 section.

It is expected that the bull market trend in the second half of this year will be determined depending on whether it breaks above the 46695.0-49518.0 section, or declines.

If it touches the 46695.0-49518.0 section and moves down, we expect support near the 45211.0 point to trigger an additional upward breakout attempt.


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

In the wRSI_SR indicator, the RS line fell from the 80 point, indicating a short-term downtrend.
At this time, you need to check in which section the BTC price is supported.

The CCI-RC indicator shows that the CCI line has successfully crossed the EMA line.
It remains to be seen whether the uptrend can continue.

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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, if the price is maintained above the 40100.0 point, it is expected to continue the uptrend in earnest.

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(BTCUSDTPERP 1D Chart)
The price needs to remain above the 35746.28 point to continue this uptrend.

If the 37243.38-38200.01 section is touched and the sharp rise leads to the 39966.23-40189.39 section, I expect the 42125.51 point and an attempt to break out of the downtrend line will continue.


The next volatility period is around August 4th (August 3-5).

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(BTCKRW 1W chart)
If the price is maintained above the 31662000-35545000 range, it is expected that the uptrend will continue.

In particular, if the price is maintained above the 48550000 point, it is expected to continue a full-fledged uptrend.

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(BTC Dominance (BTC.D) 1D Chart)
A decline in BTC dominance is likely to lead to a rise in the price of altcoins.

Conversely, a rise in BTC dominance is likely to lead to a fall in the price of altcoins.

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(USDT Dominance (USDT.D) 1D Chart)
We need to see resistance at the 4.158 point and see if we can move below the 3.374 point.


If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.

USDT Dominance falling below the downtrend line (2), indicating that the coin market is moving towards an uptrend.

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(USDT 1D Chart)
We need to see support and see if we can move higher at 61.765B.


If you look at the USDC 1D chart (www.tradingview.com/x/3Lln0cpE/), you should watch for an uptrend along the uptrend line.


I think the rising gap between USDT and USDC shows that money is flowing into the coin market.

Conversely, a fall in the gap indicates that money is flowing out of the coin market.

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(ETH Dominance (ETH.D) 1D Chart)
We need to see if we can move above the 20.52 point along the uptrend line.


A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.

It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.

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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 with the movement of price and volume.
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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