It breaks above the downtrend line (8) and is rising. We need to see if we can get support and climb in the 34871.0-35964.5 section.
In particular, we have to see if we can keep the price above the downtrend line (8).
If it falls in the 27039.5-29350.0 interval, it is expected to turn into a downtrend, so you need to think about how to respond.
It remains to be seen if the volatility around February 4th (February 3-5) could rise above 38152.5 points.
If you break above the downtrend line (8) and gain support at 34871.0-35964.5, we would expect to retake direction at 40340.0-41433.5.
If the uptrend continues, it is expected to touch the 47996.5-49090.0 section.
It remains to be seen if the volume indicator's OBV can rise as the buy width (green) increases near the 13.496B point.
On the wRSI_SR indicator, the RS line must be positioned above 80 points, so we must see if the SR line can ascend near the 80 point.
On the CCI-RC indicator, we must see if the CCI line can intersect the EMA line.
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(BTC Dominance 1D Chart) It remains to be seen if the volatility between around January 28th and around February 7th will lead to movement that deviates from the 61.20-67.44 range. In particular, you need to make sure you can get resistance at 63.38.
If it continues to decline at 63.38, it is expected to be the bull market for altcoins.
(USDT Dominance 1D Chart) Between February 3 and 16, we should watch for any movement that deviates from the 2.541-2.754 section. In particular, it remains to be seen if it can decline along the downtrend line (2).
If it falls from the 2.541 point, I think there is a possibility to escape the uptrend. However, it must fall below the 2.349 point in order to show a certain movement.
** 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) ** The OBV indicator was re-created by applying a formula from 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 or 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: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
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(CME Bitcoin (BTC1!) 1D chart) It started with a fall in the gap (2170.0-36015.0).
We have to see if we can get support at 35660 and climb above 36375.0. In particular, it remains to be seen if it can rise above the downtrend line.
If it falls from the 29700.0 point, there is a possibility of a downtrend, so careful trading is necessary.
The next volatility period is around February 5.
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(XBTUSD 1h chart)-Short term strategy
If you forcefully enter a position and start trading, you will end up losing more. If you keep the section where you enter the position and the Stop Loss point, I think you can close the position with profit.
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(LONG) 1. Entry point: When it exceeds 34080.0 point Target point: 1st 35575.0 point or higher, 2nd 37070.5 point or higher Stop Loss: 33581.5 points
2. Entry point: When breaking above 37569.0 point Target point: 38566.0 point or higher Stop Loss: 37070.5 point
(SHORT) 1. Entry point: When breaking below the 37070.5 point Target point: 1st 35575.0 point or less, 2nd 34080.0 point or less Stop Loss: 37569.0 point
2. Entry point: When breaking below the 33581.5 point Target point: 32584.5 points or less Stop Loss: 34080.0 point
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If you continue to read my article, I think you won't need entry points, target points, and Stop Loss. I think you understand where the movement begins.
We are trying to tell you easily in a format that anyone can understand. However, I think that whether or not you can proceed with the transaction by digesting it with your own, it depends on whether you invest a lot of time and verify it.
It's also important to get a lot of profits from short-term strategies, but if you think that short-term strategies will increase your ability to trade mechanically, I think you'll definitely start to get good results.
(OKEX BTCUSDTPERP 1h chart)-Short term strategy
(LONG) 1. Entry point: When breaking above the 33978.6 point Target point: 1st 35463.3 point or higher, 2nd 36948.0 point or higher Stop Loss: 33483.7 points
2. Entry point: When exceeding the 37442.9 point Target point: 38432.7 point or higher Stop Loss: 36948.0 point
(SHORT) 1. Entry point: When breaking below the 36948.0 point Target point: 1st 35463.3 point or less, 2nd 33978.6 point or less Stop Loss: 37442.9 point
2. Entry point: When breaking down from 33483.7 Target point: 32493.9 points or less Stop Loss: 33978.6 point
(Binance BTCUSDTPERP 1h chart)
If you are new to derivatives, please refer to our other short-term strategies.
All transactions are done in installments. Accordingly, it is recommended to set the entry point, the target point, and the stop loss point as a division.
1. Entry section: within the box section indicated on the chart 2. Target point: Fibonacci retracement point 3. Stop Loss: Determined according to the situation (when sudden movement is expected or comes out)
It uses a method to meet the rating by entering into divisions rather than Stop Loss. Accordingly, it is recommended to use a low leverage ratio or enter only 50% of the total investment. The transaction is also conducted using the horizontal point indicated by the indicator set in the chart.
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(BAKKT Bitcoin (BTM1!) 1D chart) It started with an increase in the gap (36155.0-36540.0).
You should watch for any movement outside the 35664.0-37840.0 segment.
If you fall at 31312.5 or at the uptrend line (2), you need a short stop loss.