readCrypto

Bitcoin Futures - October 17 (1h)

BITMEX:XBTUSD.P   Bitcoin
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Entering Long: When the 11306.0 point rises in the 11226.5-11306.0 section
Target point: 11460.0 point or higher
(Because it seems to break through at 11362.5 and there is a possibility of a sharp decline, be careful when entering the Long.)

Entering Short: When the 11226.5-11306.0 section falls through 11226.5 points
Target point: 11094 point or less


(1D chart)
You need to make sure that you can get support in the Fibonacci retracement ratio intervals 11226.5-11306.0 or 11244.0

If it falls below the 11226.5 point, it is a short-term Stop Loss.

In order to turn the trend, it must rise above 11757.5 points.

If it falls from the uptrend line (1), it is Stop Loss.

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(CME Bitcoin (BTC1!) 1D chart)
The closing price was created at 11360.0, the volume profile point.
We need to see if we can get support and move up at 11230.0 or at the uptrend line (2).

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(BAKKT Bitcoin (BTM1!) 1D chart)
The closing price was created above 11392.5.
It remains to be seen if it can gain support and rise at the uptrend line (5).

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(USDT Dominance 1D Chart)
It is rising unexpectedly.

You should check for movement around October 17th that deviates from the downtrend line (1)-(3).

If it does not deviate from the downtrend line (1)-(3), it is expected to fall sideways within the trend line.

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(BTC Dominance 1D Chart)
It rose along the upward trend line (5) around October 15 (October 14-16).
It remains to be seen if it will touch the downtrend line (2).
In order to get an uptrend towards altcoins, I believe that BTC must rise to the point of transition.

In terms of preserving profit and loss and securing extra funds, I think that proper split trading is necessary.
Therefore, careful trading is necessary.

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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/
Disclaimer

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