readCrypto

Bitcoin (BTC) - October 4

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BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1W Chart) - Mid-Long-Term Perspective
Above the 27650.0-29350.0 section: The upward trend is expected to continue.

Above 47010.0 point: Expected to create a new wave.

40163.5-45211.0 Zone: An important support zone to continue the uptrend that started on July 21st.

27650.0-33101.0 section: An important support section to continue the uptrend that started around December 28, 2020.


As the green width of OBV in the volume indicator increases, it is necessary to check if there is an upward movement in the center line.

In the wRSI_SR indicator, the RS line is falling below 20.
As the RS line rises above 20, we need to see if it can turn into an uptrend.

In the CCI-RC indicator, it is necessary to check whether the CCI line can be maintained above the +100 point.
In particular, it is necessary to check whether the flow can be seen rising above the EMA line.


(1D chart)
First support section: 42084.0-45211.0
Second support section: near point 38225.0 (37301.0-40620.5)


Resistance section: 46695.0-49518.0


You need to see if there is any movement to break out of the downtrend line that is passing through the resistance zone.

To do this, we need to make sure that the price remains in the resistance zone before the next volatility period, around October 16th.


It is necessary to check whether the red width of OBV in the volume indicator can be converted into a green width.
Also, make sure that the centerline of the OBV is rising.

In the wRSI_SR indicator, it is necessary to check whether the RS line can show a short-term uptrend trend as it rises above the 50 point.

In the CCI-RC indicator, the CCI line is crossing the 0 point and near the EMA line.
It is necessary to check whether the CCI line can indicate a movement that deviates from the -100~+100 section. (It is expected to create a new trend.)


The section 46695.0-49518.0 is a resistance section, but to check the directionality, you must deviate from the section 45211.0-50876.0.

Therefore, rather than proceeding with a trade on breaking out of resistance, it is better to check for resistance or support by breaking out of the 45211.0 or 50876.0 points.

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(BTCUSDTPERP 1D Chart)
First support section: 42125.51-45163.36
Second support section: near point 38200.01

First resistance section: 46559.44-49345.92
Second resistance section: 54918.88-56630.33

The first resistance section is an important section that determines the trend.

So, if a failure to break above this first resistance level is likely to lead to a fall near the 38200.01 point, the second support area, we need to think about how to deal with it.


If it rises from the first resistance section and rises above the downtrend line (1), it is expected to boost expectations for an uptrend.

Therefore, it is expected that the direction will be determined only when there is a movement out of the first resistance section.

We need to see if this move continues before the next volatility period around October 14th.

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To confirm the movement of funds in the coin market, you need to check the movement of the charts below.
BTC Dominance (BTC.D) Chart
USDT Dominance (USDT.D) Chart
USDT Chart
USDC Chart

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(XBTUSD 1M Chart) - Big Trend
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 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 MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not yet been released.
(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:
(BTC 1W chart)

[Example of exchange chart setup]

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

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