readCrypto

Bitcoin (BTC) - September 23

readCrypto Mod Updated   
BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1W Chart) - Mid-Long-Term Perspective
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.

The 40163.5-45211.0 zone is an important support zone for continuing the uptrend.

Above the 47010.0 point, it is expected to create a new wave if the price is maintained as a high point.


(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

We need to look at the situation to see if we can find support in the support zone and break above the resistance zone.

For that to happen, the trading volume must increase.
At this time, it is necessary to check which section receives support and resistance.


The volatility period is around September 25 (September 24-26).

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

It is expected that the trend will change according to the increase or decrease in trading volume, along with which section receives support and resistance.

If the price is maintained in the support zone even if it falls with a large volume of trading, it is highly likely to turn into an uptrend.


Resistance section: 46559.44-49345.92

The resistance zone is an important zone that determines the trend.
Therefore, a failure to break above this resistance area is likely to break below the 38200.01 point.


The next volatility period is around September 26 (September 25-27).

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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 sections a and 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 upward trend or a downward trend, there is a high probability 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 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.D, USDT.D, USDT, USDC charts)
(BTC.D 1D Chart)
If it is maintained below the 41.73 point, altcoin circulation is expected to continue.
If it is maintained below the 40.02 point, the coin market is expected to form a new wave. (A big uptrend is expected.)

If it rises above the 43.75-44.51 section, the coin market is expected to form a downward trend.
When it rises above the 48.15 point, it is highly likely that the coin market is in a bear market.


(USDT.D 1D Chart)
If it declines from the resistance section (3.500-3746) and falls below the 3.009-3.374 section, the bull market is expected to begin.

When it rises above the 4.158-4.473 section, it turns into a downtrend.


(USDT 1W chart, USDC 1W chart)
If the uptrend is maintained, the coin market is highly likely to lead to an uptrend.

For the coin market to turn into a bear market, I believe that the movement of money out of the coin market must be captured.

Therefore, you should observe the trend of USDT chart and USDC chart.

[Example of exchange chart setup]

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

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

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