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Bitcoin (BTC) - May 8 (Variability Period-12)

BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1W chart)
It remains to be seen if it can rise along the uptrend line (3) and rise above the 58464.0 point for support.

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

In the wRSI_SR indicator, we must see if the RS line can rise above the SR line and rise more than 50 points.

In the CCI-RC indicator, it remains to be seen whether the CCI line rises above the EMA line and continues to rise.
If it does not fall below the drawn uptrend line, it is expected to turn to an uptrend.

(1D chart)
We need to see if we can get support from 55828.0-56641.5 and climb above 59029.0.

If it falls, we need to see if it can rise along the uptrend line (3).

It is important whether it rises along the uptrend line (3) between around May 8-10.

If it doesn't rise in the 60904.0-63442.0 range, it will eventually fall again.
So, you have to think about how to respond.

If it falls in the 48214.0-50752.0 range, Stop Loss is required to preserve profit and loss.
However, you need to trade carefully as you can touch and climb the 40600.0-45211.5 section.


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

On the wRSI_SR indicator, we must see if the RS line can rise more than 80 points.

On the CCI-RC indicator, it remains to be seen whether the CCI line can rise above the EMA line.
In particular, we need to see if it can rise along the drawn uptrend line.


(1h chart)
Check the movement before and after the time indicated on the chart.

It remains to be seen if attempts to break above 57577.5-59029.0 can continue.

If it falls, we have to see if we can gain support and move up at 55828.0-56641.5.

You can touch and climb the support section of 52825.0-54962.5, so you need to trade carefully.
However, you can touch the 51935.5 point and climb.


It remains to be seen if the CCI line can rise more than 100 points on the CCI-RC indicator.

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(BTCUSDT 1M chart)
Entering this month, the RS line is falling below the SR line on the wRSI_SR indicator.
It remains to be seen if the RS line falls below the 80 point, indicating a downtrend.

We have to see if we can ascend above the 58352.80 point.

(1W chart)
If it falls, we need to see if it can rise along the uptrend line (3).

In the wRSI_SR indicator, we must see if the RS line rises above the SR line and can continue the upward trend.

(1D chart)
We have to see if we can get support from 55811.30-56578.21 and climb above 58968.31.

If it falls, we need to see if it can rise along the uptrend line (3).

If you can't continue the rise by breaking above the important section of 60.886.07-63423.46, it will eventually fall.
So, you have to think about how to respond.

If it falls in the 48199.13-50736.52 section, a Stop Loss is required to preserve profit and loss.
However, you can touch and climb the 40586.96-45135.66 section, so you need to think about how to respond.

If it breaks above 60.886.07-63423.46 and continues its ascent, it is expected to re-orientate in the 78647.80-81185.19 section.


It remains to be seen if the green of OBV on the volume indicator can increase.

On the wRSI_SR indicator, we must see if the RS line can rise more than 80 points.

On the CCI-RC indicator, it remains to be seen if the CCI line rises and can rise above the EMA line by 100 points.
At this time, volatility may occur, so careful trading is necessary.

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(BTCKRW 1M chart)

(1W chart)

(1D chart)
In order to break off the downtrend line (6), we need to see if we can gain support by rising above the 68567000 point.

If it falls, you need to make sure you get support in the 64246000-66007000 range.

If it falls in the 56052000-58981000 range, Stop Loss is required to preserve profit and loss.
Secondly, if you touch the 56052000-58981000 section, there is a possibility that it will fall to the 47268000-51798000 section.
You have to think about how to respond to this.

An attempt was made to break the downtrend line by touching above the 70694000 point.
It remains to be seen if it could rise to the 70654000-73622000 range before the next volatility period, around May 10th.

We need to see if the OBV on the volume indicator turns green and increases.

On the CCI-RC indicator, it remains to be seen if it can rise above the 100 point and EMA line by ascending along the uptrend line drawn with the CC line.


(Upbit BTCKRW 1D chart)

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(BTC Dominance (BTC.D) 1W chart)

(1D chart)
We have to see if we can move down along the downtrend line (3)

We need to see if there is any movement that deviates from the 43.75-47.64 range due to volatility around the 9th-15th of May.
In particular, it remains to be seen if it can decline along the downtrend line (3).

We have to see if we can touch point 43.17, which was touched as a strange sign due to volatility around May 15th.

It remains to be seen if the CCI-RC indicator can fall below the downtrend line where the CCI line is drawn.

The possibility of a surge near the 43.17-43.75 section cannot be ruled out, so you need to look closely to see if it rises above the downtrend line (3).

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(USDT Dominance (USDT.D) 1D chart)
You should watch for any movement that deviates from the 2.088-2.473 segment.
In particular, we have to see if we can get resistance by falling below the 2.345 point.

On the CCI-RC indicator, it remains to be seen if the CCI line can touch the EMA line and fall below the drawn uptrend line.

The next volatility period is around May 24th.

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It is advisable to trade at your average unit price.
This is because if the price flows below your average unit price, which was on an uptrend or downtrend, there is a high possibility that you will not be able to earn a large profit due to the psychological burden.

The center of every trade starts with the average unit price 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, so that the money that ultimately corresponds to the profit can regenerate the profit.

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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for the sake of convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the conventional 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 that oh92 disclosed. (Thank you for this.)
** 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 transactions. 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 do not trade 24 hours a day.
G1: Closing price when closed
G2: Cigar at the time of opening
(Example) Gap (G1-G2)

[Example of exchange chart setup]

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

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

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