Bitcoin (XBT, including short-term strategy) - March 16
Updated
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We need to see if we can get support and climb in the 54122.5-55828.0 section.
You should watch for any movement that deviates from the uptrend line (7)-(6).
If you are in the 54122.5-55828.0 section, you can touch the 48214.0-50752.0 section, so you need a short stop loss.
However, it may rise along the uptrend line (7), so careful trading is necessary.
If it falls in the 38225.0-40600.0 section, you can touch the 30448.0-32986.0 section, so you need a Stop Loss to preserve profit or loss.
It remains to be seen if the center line can rise as the green of OBV in the volume indicator increases.
If the center line doesn't rise, it's hard to say that the upside is strong, so you need to trade carefully.
On the wRSI_SR indicator, the RS and SR lines fell below 20 and entered an oversold section.
It remains to be seen if rising above 20 could turn into a short-term uptrend.
However, since the SR line is located above 50, it will take at least 1-2 days before it turns into a short-term uptrend.
If there is a drastic movement in BTC price, you should always check the flow of price and volume first as the movement of the indicator will not be able to keep up.
In the CCI-RC indicator, it remains to be seen whether the CCI and EMA lines can turn upward.
If it rises to the 60904.0-63442.0 section, BTC is expected to set its direction again.
The next volatility period is around March 24th, so tedious movements can continue until around March 24th.
It remains to be seen whether the price of Major Coins could rise due to the sideways BTC price.
The rise of the major coins is expected to create a new wave.
Therefore, I believe that the current rise of altcoins may slow down or turn into a decline.
Market trends are always changing faster than expected.
I think the only way to respond to rapid change is by establishing a response strategy in advance.
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(BTC Dominance 1D Chart)
You need to make sure you get resistance at point 63.38.
I think the bull market for altcoins is when BTC dominance is below 63.38 points.
Accordingly, it is always a good idea to check if you are climbing above the 63.38 point.
The decline in BTC price and the decline in BTC dominance means that altcoins have been defended against the price.
So, it's a good idea to watch the coin market flow for the next few days.
Impatience in making investments can result in losses.
I think that loss can be minimized if we can check the trend of the coin market, check the status of the coins supported, and proceed with the installment purchase.
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(USDT Dominance 1D Chart)
It remains to be seen if volatility around March 15th-18th could drop below the 1.952 point.
If you are below the uptrend line (1), you are still in a downtrend.
The decline in USDT dominance is likely to lead to an upward trend in the coin market.
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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.
Therefore, 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 to 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 and 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: Closing price when closed
G2: Cigar at the time of opening
(Example) Gap (G1-G2)
Dear traders, nice to meet you.
By "following" you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------------------- -----
We need to see if we can get support and climb in the 54122.5-55828.0 section.
You should watch for any movement that deviates from the uptrend line (7)-(6).
If you are in the 54122.5-55828.0 section, you can touch the 48214.0-50752.0 section, so you need a short stop loss.
However, it may rise along the uptrend line (7), so careful trading is necessary.
If it falls in the 38225.0-40600.0 section, you can touch the 30448.0-32986.0 section, so you need a Stop Loss to preserve profit or loss.
It remains to be seen if the center line can rise as the green of OBV in the volume indicator increases.
If the center line doesn't rise, it's hard to say that the upside is strong, so you need to trade carefully.
On the wRSI_SR indicator, the RS and SR lines fell below 20 and entered an oversold section.
It remains to be seen if rising above 20 could turn into a short-term uptrend.
However, since the SR line is located above 50, it will take at least 1-2 days before it turns into a short-term uptrend.
If there is a drastic movement in BTC price, you should always check the flow of price and volume first as the movement of the indicator will not be able to keep up.
In the CCI-RC indicator, it remains to be seen whether the CCI and EMA lines can turn upward.
If it rises to the 60904.0-63442.0 section, BTC is expected to set its direction again.
The next volatility period is around March 24th, so tedious movements can continue until around March 24th.
It remains to be seen whether the price of Major Coins could rise due to the sideways BTC price.
The rise of the major coins is expected to create a new wave.
Therefore, I believe that the current rise of altcoins may slow down or turn into a decline.
Market trends are always changing faster than expected.
I think the only way to respond to rapid change is by establishing a response strategy in advance.
-----------------------------------------------
(BTC Dominance 1D Chart)
You need to make sure you get resistance at point 63.38.
I think the bull market for altcoins is when BTC dominance is below 63.38 points.
Accordingly, it is always a good idea to check if you are climbing above the 63.38 point.
The decline in BTC price and the decline in BTC dominance means that altcoins have been defended against the price.
So, it's a good idea to watch the coin market flow for the next few days.
Impatience in making investments can result in losses.
I think that loss can be minimized if we can check the trend of the coin market, check the status of the coins supported, and proceed with the installment purchase.
--------------------------------------------------
(USDT Dominance 1D Chart)
It remains to be seen if volatility around March 15th-18th could drop below the 1.952 point.
If you are below the uptrend line (1), you are still in a downtrend.
The decline in USDT dominance is likely to lead to an upward trend in the coin market.
-------------------------------------------------- -------------------------------------------
** 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.
Therefore, 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 to 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 and 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: Closing price when closed
G2: Cigar at the time of opening
(Example) Gap (G1-G2)
Note
(XBTUSD 1h chart)-Short term strategy
If you forcefully enter a position and start trading, you will only lose more in the end.
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 exceeding the 60344.5 point
Target point: 1st 64351.5 points or higher, 2nd 68358.5 points or higher
Stop Loss: 59008.5 points
2. Entry point: When it exceeds the 69694.5 point
Target point: 72366.0 point or higher
Stop Loss: 68358.5 points
(SHORT)
1. Entry point: When breaking below the 59008.5 point
Target point: 1st 56337.5 or less, 2nd 53666.0 or less
Stop Loss: 60344.5 point
2. Entry point: When breaking below the 52330.0 point
Target point: 48323.0 point or less
Stop Loss: 53666.0 point
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If you continue to read my article, I think there will be no need for 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 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 increase your ability to trade mechanically, I think you'll definitely start to get good results if you proceed.
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(OKEX BTCUSDTPERP 1h chart)-Short-term strategy
(LONG)
1. Entry point: When breaking above the 62139.2 point
Target point: 1st 66791.1 or higher, 2nd 71443.0 or higher
Stop Loss: 60588.6 point
2. Entry point: When breaking above the 72993.6 point
Target point: 76094.9 point or higher
Stop Loss: 71443.0 point
(SHORT)
1. Entry point: When breaking below the 60588.6 point
Target point: 1st 57487.3 point or less, 2nd 54286.0 point or less
Stop Loss: 62139.2 point
2. Entry point: When breaking down from 52835.4 point
Target point: 48183.5 point or less
Stop Loss: 54386.0 point
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(Binance BTCUSDTPERP 1h chart)
Please refer to the short-term strategy descriptions on other charts to create a short-term strategy.
Note
(CME Bitcoin (BTC1!) 1D chart)It started with a fall in the gap (56900.0-57005.0).
We have to see if we can get support and ascend at 53720.0.
In particular, it remains to be seen if it can rise along the uptrend line (3).
If it falls between 49100.0-52040.0, a short Stop Loss is required.
Note
(BAKKT Bitcoin (BTM1!) 1D chart)It started with a drop in the gap (56540.0-55477.5).
We must see if we can ascend above the 54914.0 point.
If it falls between 47444.5-49934.0, a short Stop Loss is required.
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