readCrypto

Bitcoin (BTC) - October 7

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BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W Chart) - Medium to Long-Term Perspective
Above the 28130.0-29300.0 interval: the uptrend continues.

40100.0-41950.0 or higher: Expected to lead to a full-fledged upward trend.

Above 46930.0 point: Expected to create a new wave.


Looking at the CCI-RC indicator, we can see that the CCI line is above the +100 point, indicating that it is already in an uptrend.

However, as it is below the EMA line, it can be said that the uptrend was limited.

If the CCI line breaks above the EMA line and rises, it is expected to lead to a sharp rise.


(1D chart)
First resistance section: 46487.52-49266.69
Psychological resistance section: 54825.02-56578.21
Second resistance section: 60383.36-63162.53

First support section: 41950.0-45135.66
Second support section: near point 38150.02


If support is found in the psychological resistance zone, a move is expected to move up to the second resistance zone.

A whipsaw may occur in the psychological resistance zone, so if the decline is above the 50931.30 point, I would expect it to follow the uptrend.


It is expected to enter a new price range when it rises from the 59500.0-67854.0 section, which includes the second resistance section.


The volatility period is around October 12 (October 11-13).

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(BTCUSDTPERP 1D Chart)
First resistance section: 46559.44-49345.92
Second resistance section: 54918.88-56630.33

First support section: 42125.51-45163.36
Second support section: near point 38200.01


We need to see if we can sustain the price in the second resistance zone.

If the second resistance section is unsupported and falls, you should check to see if it can move along the uptrend line (2).

The second resistance section is likely to be a psychological resistance section, so I think the possibility of a whipso is high.
Therefore, careful trading is required.


If the second resistance section is crossed, it is expected to re-establish the trend at the 60491.83-63278.31 section.


The volatility period is around October 14th (October 13-15).

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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

The rise in BTC price shows that BTC is leading the price increase.
( BTC Dominance Rise + USDT Dominance Decrease)

We believe this move represents a positive bullish signal for the market.

However, if the price of BTC continues to rise, the price of some altcoins may not keep up with the rise in BTC price and may move sideways or fall.

There is a possibility that these altcoins will rise in price after the BTC price rise, followed by altcoin circulation pumping.

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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 estimated 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 in a downward trend, there is a high possibility 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 the 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 as price and volume move.
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 been released yet.
(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 1W Chart)
A new challenge is expected to begin in the near future.
May this challenge open the door to a new price range...

The time is coming when big whales and institutional investors who have poured a lot of money into the past realize their profits.

[Example of exchange chart setup]

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

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