Bitcoin (BTC) - September 22

Sep 22, 2020

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I think that from September 21st to October 1st, there is a possibility of large volatility.

It fell around September 22nd (September 21-23) and touched below 10300.0 points.

If it falls, we need to see if we can get support at 10318.0, the Fibonacci retracement ratio point.

If you gain support and rise in the Fibonacci retracement ratio of 9654.5-10318.0, it is likely to touch up to 12308.5 points.

However, as the strength of the rebound is expected to be weak, it is expected to be difficult to cross the downtrend line (7).

Therefore, I think it is necessary to gain support at 10318.0 or 10088.5-10300.0.

I think it's important to gain support by quickly rising above 10591.5 points.

Now the period of volatility has begun.
We believe that careful trading is necessary to prevent double losses with hasty judgment.

To see the overall flow of the coin market, it is recommended to check the flow chart of the BTC dominance chart together.

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(BTC Dominance 1D Chart)

As it rises above the downtrend line (1), the overall flow of the coin market is showing a downtrend.

We'll see if we can get resistance at 62.072 and drop.

You also need to see if you can move down along the downtrend line (1) and drop below the 60.998 point.


It remains to be seen whether the final bull market of the year can be made on or after October 6, falling below the 59.659 point, falling below the downtrend line (2).
If proceeding as described above, it is expected to create a new wave of coin market by touching the 56.740-58.020 section.


If it is located near the 62.072 point after about October 6th, it is expected that the overall flow of the coin market will turn into a downtrend and continue to decline.
Then, you should touch the 63.380 point and the downtrend line (3) around October 28 and observe the flow afterwards.

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(USDT Dominance 1D Chart)

USDT dominance rose a lot on September 21st.
We have to touch the 5.003 point that occurred as the gap rose on August 31st and see if we can move down.
It remains to be seen if it can fall below the downtrend line (1).

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** 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 generating profit as a support point or segment

(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)