readCrypto

Check if a trend is formed after June 5th

readCrypto Mod Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1D chart)
This volatility period is expected to last from June 3rd to 5th.

Accordingly, we need to check if a trend is formed after the volatility period.

Currently, the MS-Signal (M-Signal on the 1D chart) indicator is passing near the HA-High indicator (67614.25) on the 1D chart and is showing support near that area.

Therefore, the key is whether it can rise along the rising trend line (1) after the volatility period.

If it does not, and falls below the MS-Signal (M-Signal on the 1D chart) indicator and shows resistance,
1st: 65233.64 (64K-66401.82)
2nd: 62791.03
You should check for support near the 1st and 2nd above.

In particular, the 2nd section, 62791.03 point, is the HA-Low indicator point on the 1D chart, and an important trend line passes near this point, so it is a section that must be supported in order to maintain an upward trend.

If it falls from the 62791.03 point or an important trend line, there is a high possibility that a stepwise downtrend will begin, so you should think about a countermeasure for this.

However, since it falls after the HA-Low indicator is generated, there is a high possibility that a bottom section will be formed.

(1W chart)
As seen in the 1W chart, the volatility period is expected to continue until the week including July 29th.

Therefore, the real trend is expected to form after this volatility period.

Have a good time.
Thank you.

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- ​​Big picture
The real uptrend is expected to start after rising above 29K.

The area expected to be touched in the next bull market is 81K-95K.

#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 13401.28
151166.97-157451.83 (overshooting)
5th: 178910.15

These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.

We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.

#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55

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Comment:
#BTCUSDT
The important section on the 1D chart is around 67614.25 and 62791.03.
Therefore, trading is possible depending on whether there is support in the important section.

After June 5, the key is which direction it deviates from the 67614.25-70231.38 section.

If it moves sideways like this, it is highly likely that it will show a trend reversal when it meets the rising trend line (1).

The 65233.64 point is the HA-High indicator point on the 1W chart, so you should check whether there is support around 64K-66401.82.
Comment:
The BW indicator near the price candle and the BW indicator included in the TS -BW indicator are the same indicator.

However, the BW indicator near the price candle is an indicator that is created to display when the BW value creates a horizontal line at the -50 and +50 points.

The BW indicator is an indicator that displays the MACD, StochRSI, CCI, PVT, and superTrend indicators.

Therefore, I think that the BW indicator can play the role of support and resistance when it has a minimum or maximum value.

Of course, this indicator alone cannot solve everything.

Therefore, it is recommended to display the support and resistance points of the 1M, 1W, and 1D charts and view them together.

[Example of exchange chart setup]

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

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

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