Bitcoin (BTC) - December 24
Good morning?
Dear traders, nice to meet you.
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Charts are published early due to personal appointments.
The rest of the charts will likely be available after 9 hours.
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We need to see if the volatility around December 24 leads to a movement that deviates from the 22256.0-24749.72 range.
You also need to see if you can climb along the uptrend line (6).
If it falls at 21632.57, it is a short-term Stop Loss.
According to the wRSI_SR indicator, the RS line was below 20 and entered the oversold section.
If you stay here, the price may fall.
However, I don't think the odds are high because USDT dominance is on a downtrend.
Therefore, it is expected to turn from a short-term downtrend in the near future.
It is not easy for prices to move sideways in a certain range.
Usually, marginalized coins rarely trade, so sideways often occur.
However, coins such as BTC are always traded by many people, so it is not easy to see coins with many such transactions sideways.
Currently, the BTC price is moving sideways for about 6 days.
I think the longer the sideways period, the greater the movement after the sideways end.
I think individual traders start expressing impatience when the sideways period is at least 10 days, usually 15-20 days.
I think that this is the period when you are most likely to make the wrong choices as psychological pressure and anxiety rise.
Therefore, if the price moves within the range of the sideways (boxed section) that you have set, you should stop trading for a while and take a psychological stability.
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(OKEX BTCUSDT 1D chart)
Near point 23296.8 we need to see if we can sideways.
Also, it remains to be seen if volatility around December 27 could move up along the uptrend line (5).
During this period of volatility, we should watch for any movement outside the 22087.0-24506.6 interval.
If it falls at 21482.1, it is a short-term Stop Loss.
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(Coinbase BTCUSD 1D chart)
With volatility around December 24th, we need to see if there is any movement that deviates from the 22233.15-24715.45 range.
You also need to see if you can climb along the uptrend line (5) and keep the price above 23474.30.
If it falls from 21612.58, it is a short-term Stop Loss.
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(BTC Dominance 1D Chart)
Having risen above 67.44 points, the prices of altcoins have mostly returned to their original position.
Unlike August-September 2019, in August-September 2020, BTC dominance is declining.
We don't know how these waves will affect the future.
However, the waves will continue to come out, and we can only roughly predict the motion that follows.
I think it is moving faster in December, which ends 2020.
We don't know if BTC dominance will face resistance between 69.80 and 72.54, or 69.80, but if you look at the movement roughly, BTC dominance is expected to decline.
I think BTC dominance is correlated with the price change of altcoins.
Altcoin's season is expected to begin again.
-------------------------------------------------- -
(USDT Dominance 1D Chart)
I think it is necessary to understand the movement of funds in order to understand the overall flow of the market.
As a private trader, I think you should look at the USDT dominance chart to see even the slightest movement of your funds.
If the movement of the current coin market looks precarious, I think you are talking about the coin chart that is moving sideways from the highs.
There has always been a sideways section, and the sideways section will come out again in the future.
I think the USDT Dominance Chart will give you an idea of the future direction when the coin market is on the sideways.
Looking at the current USDT dominance chart, there is a downtrend going on.
This downward trend can predict that funds are flowing into the coin market.
Thus, you can see that the funds are being used to buy coins.
It occurred due to a gap increase on August 31, 2020, and is currently located within the 2.726-3.596 gap.
If USDT dominance is below the 3.596 point by the end of this year, further declines are expected.
For a more stable movement, I think it's better to get resistance at the uptrend line (6) or at 3.285-3.374.
-------------------------------------------------- -------------------------------------------
** 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 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. Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line)
** CCI-RC indicator is an indicator created by changing the set value from the existing CCI indicator. Therefore, the interpretation is the same as the existing CCI indicator.
** 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 the stock market, 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) Gap (G1-G2)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
Charts are published early due to personal appointments.
The rest of the charts will likely be available after 9 hours.
-------------------------------------------------- ----------
We need to see if the volatility around December 24 leads to a movement that deviates from the 22256.0-24749.72 range.
You also need to see if you can climb along the uptrend line (6).
If it falls at 21632.57, it is a short-term Stop Loss.
According to the wRSI_SR indicator, the RS line was below 20 and entered the oversold section.
If you stay here, the price may fall.
However, I don't think the odds are high because USDT dominance is on a downtrend.
Therefore, it is expected to turn from a short-term downtrend in the near future.
It is not easy for prices to move sideways in a certain range.
Usually, marginalized coins rarely trade, so sideways often occur.
However, coins such as BTC are always traded by many people, so it is not easy to see coins with many such transactions sideways.
Currently, the BTC price is moving sideways for about 6 days.
I think the longer the sideways period, the greater the movement after the sideways end.
I think individual traders start expressing impatience when the sideways period is at least 10 days, usually 15-20 days.
I think that this is the period when you are most likely to make the wrong choices as psychological pressure and anxiety rise.
Therefore, if the price moves within the range of the sideways (boxed section) that you have set, you should stop trading for a while and take a psychological stability.
-------------------------------------------------- ----
(OKEX BTCUSDT 1D chart)
Near point 23296.8 we need to see if we can sideways.
Also, it remains to be seen if volatility around December 27 could move up along the uptrend line (5).
During this period of volatility, we should watch for any movement outside the 22087.0-24506.6 interval.
If it falls at 21482.1, it is a short-term Stop Loss.
-------------------------------------------------- ---------
(Coinbase BTCUSD 1D chart)
With volatility around December 24th, we need to see if there is any movement that deviates from the 22233.15-24715.45 range.
You also need to see if you can climb along the uptrend line (5) and keep the price above 23474.30.
If it falls from 21612.58, it is a short-term Stop Loss.
-------------------------------------------------- ----
(BTC Dominance 1D Chart)
Having risen above 67.44 points, the prices of altcoins have mostly returned to their original position.
Unlike August-September 2019, in August-September 2020, BTC dominance is declining.
We don't know how these waves will affect the future.
However, the waves will continue to come out, and we can only roughly predict the motion that follows.
I think it is moving faster in December, which ends 2020.
We don't know if BTC dominance will face resistance between 69.80 and 72.54, or 69.80, but if you look at the movement roughly, BTC dominance is expected to decline.
I think BTC dominance is correlated with the price change of altcoins.
Altcoin's season is expected to begin again.
-------------------------------------------------- -
(USDT Dominance 1D Chart)
I think it is necessary to understand the movement of funds in order to understand the overall flow of the market.
As a private trader, I think you should look at the USDT dominance chart to see even the slightest movement of your funds.
If the movement of the current coin market looks precarious, I think you are talking about the coin chart that is moving sideways from the highs.
There has always been a sideways section, and the sideways section will come out again in the future.
I think the USDT Dominance Chart will give you an idea of the future direction when the coin market is on the sideways.
Looking at the current USDT dominance chart, there is a downtrend going on.
This downward trend can predict that funds are flowing into the coin market.
Thus, you can see that the funds are being used to buy coins.
It occurred due to a gap increase on August 31, 2020, and is currently located within the 2.726-3.596 gap.
If USDT dominance is below the 3.596 point by the end of this year, further declines are expected.
For a more stable movement, I think it's better to get resistance at the uptrend line (6) or at 3.285-3.374.
-------------------------------------------------- -------------------------------------------
** 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 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. Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line)
** CCI-RC indicator is an indicator created by changing the set value from the existing CCI indicator. Therefore, the interpretation is the same as the existing CCI indicator.
** 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 the stock market, 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) Gap (G1-G2)
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