Bitcoin (BTC) - July 24 (volatility period July 20-24)
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-------------------------------------
(XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.
On the CCI-RC indicator, we need to see if the CCI line rises above the +100 point. (tradingview.com/x/8bInphp8/)
For that to happen, there should be a flow that rises above the 33101.0 point.
During this period of volatility (July 20-24), one thing to watch out for is the increase in volume.
As the trading volume increases, I think that the price must rise or fall to get out of the tedious movement that has been going on until now.
A series of declines in the gap in USDT show that funds are expelling quickly.
I think that the current flow of the coin market is holding up well even if such a capital outflow occurs.
I think the reason is because the funds are being concentrated in ETH, which is a price defense.
If the dominance of ETH declines, the BTC price will not be able to sustain and there may be a big drop, so you need to trade carefully.
However, it is expected that the dominance of ETH will continue to rise for the time being.
(1D chart)
(The second selection point of the Fibonacci Retracement Ratio is incorrect and has been corrected.)
We should see support at the 32290.5 point and see if we can move above the 33101.0-35028.0 section.
It moved above the 32290.5 point, breaking away from the short-term downtrend line.
As such, it is important to be able to break above the 33101.0-35028.0 section.
If the move falls from the 32290.5 point, you should check for support at the 26932.0-29755.5 zone.
In particular, we should touch the 27650.0-29350.0 zone, which is a strong support zone, and watch for a sharp rise.
We will have to wait and see if we see an increase in the green color of OBV on the volume indicator.
In the wRSI_SR indicator, the RS line rose over 80 points.
It remains to be seen if the SR line can sustain its short-term uptrend until it moves above the 80 point.
In the CCI-RC indicator, the CCI line has risen above -100 points and is attempting to break above the EMA line. (tradingview.com/x/9mWmchD1/)
In particular, it remains to be seen if the uptrend can continue along the uptrend line.
----------------------------------
(BTCUSDT 1W Chart)
If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.
In particular, it remains to be seen if it can move above the 35286.51 point and turn into a short-term uptrend.
-------------------------------------
(BTCUSDTPERP 1D Chart)
(The second selection point of the Fibonacci Retracement Ratio is incorrect and has been corrected.)
We need to see support at 32275.63 and see if we can move above the 33999.52-35746.28 section.
If it goes down, you should check to see if it finds support at the 29840.58-27054.10 zone.
If it moves above the 33527.51 point, it remains to be seen if the volume can increase above 1.417M as a move to turn into an uptrend.
------------------------------------
(BTCKRW 1W chart)
If the price is maintained above the 31662000-35545000 range, it is expected that the uptrend will continue.
In particular, it remains to be seen if the price can sustain above the 39331000-40674000 range.
----------------------------------------
(BTC Dominance (BTC.D) 1D Chart)
I think it should either rise to the 47.64-48.81 section and either go sideways or find resistance at the 50.86 point.
I think BTC dominance is showing signs of falling rather than rising because BTC price is not leading the rise.
You have to be careful when trading, as these look like they are going up, but they often go right back up again.
------------------------------------------------------------
(USDT Dominance (USDT.D) 1D Chart)
If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.
We'll have to wait and see if we can get resistance in the 5.220-5.466 section.
It is important to see if USDT dominance can decline during this period of volatility.
----------------------------
(USDT 1D Chart)
I think the rising gap in USDT shows that money is flowing into the coin market.
Conversely, a fall in the gap indicates that money is flowing out of the coin market.
We need to see if we can find support at the 61.765B level and move above the 62.079B level.
It is important to see if USDT can turn into an uptrend during this period of volatility.
Looking at the USDC 1D chart (tradingview.com/x/zLP5BGgJ/), it is maintaining an upward trend as opposed to the USDT 1D chart.
----------------------------------
(ETH Dominance (ETH.D) 1D Chart)
A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.
It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.
It remains to be seen if we can break above the two downtrend lines upwards.
------------------------------------------
We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether the price trend is in an upward trend or 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 investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.
------------------------------------------------------------ -----------------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** 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.)
** See support, resistance, and abbreviation points.
** 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.
Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section.
(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.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a nice day.
-------------------------------------
(XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.
On the CCI-RC indicator, we need to see if the CCI line rises above the +100 point. (tradingview.com/x/8bInphp8/)
For that to happen, there should be a flow that rises above the 33101.0 point.
During this period of volatility (July 20-24), one thing to watch out for is the increase in volume.
As the trading volume increases, I think that the price must rise or fall to get out of the tedious movement that has been going on until now.
A series of declines in the gap in USDT show that funds are expelling quickly.
I think that the current flow of the coin market is holding up well even if such a capital outflow occurs.
I think the reason is because the funds are being concentrated in ETH, which is a price defense.
If the dominance of ETH declines, the BTC price will not be able to sustain and there may be a big drop, so you need to trade carefully.
However, it is expected that the dominance of ETH will continue to rise for the time being.
(1D chart)
(The second selection point of the Fibonacci Retracement Ratio is incorrect and has been corrected.)
We should see support at the 32290.5 point and see if we can move above the 33101.0-35028.0 section.
It moved above the 32290.5 point, breaking away from the short-term downtrend line.
As such, it is important to be able to break above the 33101.0-35028.0 section.
If the move falls from the 32290.5 point, you should check for support at the 26932.0-29755.5 zone.
In particular, we should touch the 27650.0-29350.0 zone, which is a strong support zone, and watch for a sharp rise.
We will have to wait and see if we see an increase in the green color of OBV on the volume indicator.
In the wRSI_SR indicator, the RS line rose over 80 points.
It remains to be seen if the SR line can sustain its short-term uptrend until it moves above the 80 point.
In the CCI-RC indicator, the CCI line has risen above -100 points and is attempting to break above the EMA line. (tradingview.com/x/9mWmchD1/)
In particular, it remains to be seen if the uptrend can continue along the uptrend line.
----------------------------------
(BTCUSDT 1W Chart)
If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.
In particular, it remains to be seen if it can move above the 35286.51 point and turn into a short-term uptrend.
-------------------------------------
(BTCUSDTPERP 1D Chart)
(The second selection point of the Fibonacci Retracement Ratio is incorrect and has been corrected.)
We need to see support at 32275.63 and see if we can move above the 33999.52-35746.28 section.
If it goes down, you should check to see if it finds support at the 29840.58-27054.10 zone.
If it moves above the 33527.51 point, it remains to be seen if the volume can increase above 1.417M as a move to turn into an uptrend.
------------------------------------
(BTCKRW 1W chart)
If the price is maintained above the 31662000-35545000 range, it is expected that the uptrend will continue.
In particular, it remains to be seen if the price can sustain above the 39331000-40674000 range.
----------------------------------------
(BTC Dominance (BTC.D) 1D Chart)
I think it should either rise to the 47.64-48.81 section and either go sideways or find resistance at the 50.86 point.
I think BTC dominance is showing signs of falling rather than rising because BTC price is not leading the rise.
You have to be careful when trading, as these look like they are going up, but they often go right back up again.
------------------------------------------------------------
(USDT Dominance (USDT.D) 1D Chart)
If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.
We'll have to wait and see if we can get resistance in the 5.220-5.466 section.
It is important to see if USDT dominance can decline during this period of volatility.
----------------------------
(USDT 1D Chart)
I think the rising gap in USDT shows that money is flowing into the coin market.
Conversely, a fall in the gap indicates that money is flowing out of the coin market.
We need to see if we can find support at the 61.765B level and move above the 62.079B level.
It is important to see if USDT can turn into an uptrend during this period of volatility.
Looking at the USDC 1D chart (tradingview.com/x/zLP5BGgJ/), it is maintaining an upward trend as opposed to the USDT 1D chart.
----------------------------------
(ETH Dominance (ETH.D) 1D Chart)
A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.
It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.
It remains to be seen if we can break above the two downtrend lines upwards.
------------------------------------------
We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether the price trend is in an upward trend or 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 investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.
------------------------------------------------------------ -----------------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** 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.)
** See support, resistance, and abbreviation points.
** 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.
Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section.
(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.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
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