Bitcoin (including BTC, short-term strategy) - January 21
Updated
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We need to see if we can get support at 34871.0-35964.5 and climb along the uptrend line (6).
If it falls at 34107.5, you need a Stop Loss to preserve profit or loss.
If you touch the 27039.5-29350.0 section, I think there is a high possibility of turning into a downtrend.
Accordingly, you need to think about how to respond in the interval 29350.0-34107.5.
It remains to be seen if volatility around January 23 leads to a movement outside the uptrend line (6)-downtrend line (8).
As BTC prices slowly decline, support is emerging near the 34107.5 point.
It seems that the current flow is creating a'Pull Back' pattern.
It is expected that this flow will develop into an'N' or'M' pattern in the future.
To do so, it is expected to rise to the 40340.0-41433.5 section and re-orientate.
We have to see if it follows the flow drawn on the volume indicator.
On the CCI-RC indicator, you need to see if the CCI line touches the uptrend line and rises.
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(BTC Dominance 1D Chart)
It remains to be seen if the volatility around January 21 results in any movement that deviates from the 64.86-65.89 range.
The volatility period around January 21st (January 20-22) is expected to be a significant turnoff, so we recommend stopping trading for a while and watching the situation.
The altcoin price seems to be falling, but when you see the closing price form, there are many coins that are in the same position or rising.
Depending on the position of your criticism, trading is at the point of time completely different.
Accordingly, it is time to trade according to your rating.
I think the decline in BTC dominance has slowed down the BTC price fluctuations and is only slowly falling.
If it gets support at any point, it is expected that a surge will occur when it breaks down from that point.
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(USDT Dominance 1D Chart)
We'll see if we can get resistance at 2.541 and drop below 2.349.
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** 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)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
We need to see if we can get support at 34871.0-35964.5 and climb along the uptrend line (6).
If it falls at 34107.5, you need a Stop Loss to preserve profit or loss.
If you touch the 27039.5-29350.0 section, I think there is a high possibility of turning into a downtrend.
Accordingly, you need to think about how to respond in the interval 29350.0-34107.5.
It remains to be seen if volatility around January 23 leads to a movement outside the uptrend line (6)-downtrend line (8).
As BTC prices slowly decline, support is emerging near the 34107.5 point.
It seems that the current flow is creating a'Pull Back' pattern.
It is expected that this flow will develop into an'N' or'M' pattern in the future.
To do so, it is expected to rise to the 40340.0-41433.5 section and re-orientate.
We have to see if it follows the flow drawn on the volume indicator.
On the CCI-RC indicator, you need to see if the CCI line touches the uptrend line and rises.
-------------------------------------------------- -
(BTC Dominance 1D Chart)
It remains to be seen if the volatility around January 21 results in any movement that deviates from the 64.86-65.89 range.
The volatility period around January 21st (January 20-22) is expected to be a significant turnoff, so we recommend stopping trading for a while and watching the situation.
The altcoin price seems to be falling, but when you see the closing price form, there are many coins that are in the same position or rising.
Depending on the position of your criticism, trading is at the point of time completely different.
Accordingly, it is time to trade according to your rating.
I think the decline in BTC dominance has slowed down the BTC price fluctuations and is only slowly falling.
If it gets support at any point, it is expected that a surge will occur when it breaks down from that point.
--------------------------------------------------
(USDT Dominance 1D Chart)
We'll see if we can get resistance at 2.541 and drop below 2.349.
-------------------------------------------------- -------------------------------------------
** 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)
Note
(CME Bitcoin (BTC1!) 1D chart)It started with an increase in the gap (35035.0-35200.0).
You must see if you can climb above the 35660.0 point for support.
If it falls from the 33780.0 point, you need a Stop Loss to preserve profit or loss.
If it falls from the 29700.0 point, there is a possibility of a downtrend, so careful trading is necessary.
Note
(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 37070.5 point
Target point: 1st 35575.0 or less, 2nd 34080.0 or less
Stop Loss: 37569.0 point
2. Entry point: When breaking down 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 have invested a lot of time and verified 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 if you proceed, you will definitely start to get good results.
(OKEX BTCUSDTPERP 1h chart)-Short term strategy
(LONG)
1. Entry point: When breaking above 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 below the 36948.0 point
Target point: 35463.3 points or less
Stop Loss: 37442.9 point
Note
(BAKKT Bitcoin (BTM1!) 1D chart)It started with a fall in the gap (35375.0-35307.5).
We have to see if we can get support and climb in the 34576.5-35664.0 range.
We need to see if it can rise along the uptrend line (3).
If you fall from 34220.0 point, you can touch 28049.0 point, so you need Stop Loss to preserve profit or loss.
Note
(XBTUSD 1W chart)It is falling without force.
(1M chart)
I think you need to touch the 1st section, 27039.5-29350.0 section, to turn to the downtrend.
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(BTC Dominance 1D Chart)
The downtrend is continuing, and the current position is about to turn into a mid- to long-term downtrend.
(USDT Dominance 1D Chart)
There is a movement to turn into a short-term uptrend.
To prevent this, you have to drop below the 2.541 point.
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Taken together, I think it's cooling the indicators on the 1W chart.
Based on the XBTUSD chart, the 34107.5 point is the point that can turn into a short-term downtrend, and a stop loss is required to preserve profit and loss.
(1D chart)
I think we need to find a way to cope with the interval between 29350.0-34107.5, which I mentioned a few days ago.
I think it's a section that can rise anytime unless it's a sharp decline.
It remains to be seen if the OBV indicator in the volume indicator rebounds at 13.496B.
I think it's a desire to realize profits from a lot of buys and a price adjustment period to buy more at a lower price.
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