readCrypto

Bitcoin (BTC) - July 19

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BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W Chart)
Resistance: 27033.35-29812.52

1st support: around 21475.02
Second support: 13137.51-15916.68

You need to check if it can be supported at 21475.62 or higher.

Since the RSI indicator has not yet moved out of the oversold zone, careful trading is required.



(1D chart)
It is necessary to check whether there is any movement out of the section 18719.11-22487.41.

The next volatility period will be around July 25th, but it will be important to be able to touch the resistance zone of the two bands shown on the chart by around August 10th.

To do that, you need to keep the price above 21475.02.


For the coin market to show an overall upward trend, it must rise above 29812.52.

So, the current movement is likely a rebound from a downtrend.

Therefore, it is necessary to increase the holding quantity while responding to short-term trading.

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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly as price and volume move.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet.
** 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 through split trading. It is a short-term investment perspective.)

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コメント:
** Explanation of interpretation method using indicators and breakout trading method **
Both the RSI and Stoch RSI indicators are in the overbought zone.

Therefore, the current price can be interpreted as a short-term high.

This short-term high could hold until the RSI and Stoch RSI indicators move out of the overbought zone.

The CCI line has risen above the -100 point and the EMA line, entering the sideways section and showing an upward trend.

When the CCI line is located in the range of -100 ~ +100, it can be interpreted that it has entered the sidewalk section.


If the centerline of the Bollinger Bands (60) finds support above the 60 SMA line and near 1475.0, we expect further upside.


Taken together,
- It is important that the Stoch RSI indicator finds support near 1475.0 as it moves out of the overbought zone and into the oversold zone.

- However, you can temporarily touch around 1340.12 and rise, so if you fall below 1340.12 and receive resistance, you need Stop Loss.

- If the CCI line is maintained above the EMA line, it is highly likely to maintain an uptrend, so countermeasures are needed.


Trading is the realm of correspondence.

Therefore, if you buy when the price rises, profits and losses go back and forth repeatedly, creating a great psychological burden.

Therefore, if you buy when the price rises, sell when the price stops rising, and when the price falls, it is better to check the support and resistance points and buy again.


The time to buy is to check the support and resistance points during the bearish candlelight on the 1D chart and buy.

If you are finding resistance near the resistance point, you should start buying after seeing support above the resistance point.

Usually, when buying a trade when it crosses the resistance point upwards, it often leads to a loss because it does not see support after breaking the resistance point upwards.



There are two ways to buy a trade when it breaks above the resistance point.

1. There is a trading method in which you make a profit by buying at the first breakout attempt and then selling when the price rises and stops.

This is a trading method that takes advantage of the fact that most of the first breakout attempts fail to rise and fall.

2. After breaking above the resistance point, there is a trading method that buys after seeing support near the resistance point.

This is what happens when the point of resistance is an important point in this trading style.

Therefore, finding support near the resistance point is likely to lead to further upside, so it is recommended to start buying after confirming support for 1-3 days.


(Checking support and resistance is the know-how that comes from checking the chart movement in real time for a long period of time.
These know-how cannot be learned from others.
This is the know-how that you must take your time and check the chart movement in real time.)
コメント:
(BTC.D 1D Chart)
I think that the occurrence of a gap in the BTC dominance chart is caused by a sudden change in the movement of funds or the movement of the BTC coin itself between exchanges and personal wallets.

If there is a gap caused by a sudden change in the movement of funds, it will appear along with market cap charts such as USDT Dominance and USDC Dominance.

However, upon inspection, no such signs were found.

However, it may take some time for the market cap chart to be applied in practice, so we have to wait a little more closely.


Most of the information in the coin market is disclosed using APIs.

Sites such as Coin Market Cap are sites that collect, analyze, and display this API data as statistics.

Therefore, it is understood that the API data collection of coins temporarily disappeared from the exchange (personal wallet or hard wallet, etc.) is not properly collected.


For this reason, we are speculating that there is a gap in the BTC dominance chart.
コメント:
BTC is currently decoupled from the movement of the US stock market.

When the stock market is open, you need to see if it is decoupled and moving.
コメント:

There was also a gap in the USDT Dominance chart and the USDC Dominance chart, indicating that funds were flowing out of the coin market.

We don't know if the money leaked will be cash or BTC, but I think it's a reminder that this rise is unlikely to be a real bullish one.

[Example of exchange chart setup]

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

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