readCrypto

Bitcoin (BTC) - July 16

BITMEX:XBTUSD.P   Bitcoin
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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.

In particular, it remains to be seen if the price can sustain above the 33101.0 point.

The next volatility period is around July 23rd.

In the CCI-RC indicator, the CCI line is falling below the +100 point.
Accordingly, it is out of the highs section.
You should see a flow rising above the 33101.0 point.


(1D chart)
It remains to be seen if the 31536.5-32290.5 section can find support and move up.

If it goes down from the 31536.5 point, it could touch the 28515.5 point, so you need to trade cautiously.

Looking at the big picture, if the price is maintained in the 31536.5-40600 range, it is expected to turn into an uptrend.

It remains to be seen whether the CCI line rises above the -100 point on the CCI-RC indicator and can break above the EMA line.
In particular, it remains to be seen if the uptrend can continue along the uptrend line. (www.tradingview.com/x/8OAWP6kZ/)

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(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.

The next volatility period is around July 22.

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(BTCUSDTPERP 1D Chart)
It remains to be seen if the 31292.61-32275.63 section can find support and move up.

If the move falls from the 31292.61 point, it may touch near the 28344.79 point, so you need to trade cautiously.


If the price holds above the 33999.52 point, we expect further gains.
At this point, it is important to have support above the 35096.50 point.
If support is found at the 35096.50 point, I would expect it to move above the 37211.02 point.

However, the 40136.05-45163.36 section is a strong resistance section, and unless the trading volume increases explosively, it is expected that the upward breakout will not be possible, so you need to check the increase or decrease in trading volume.

The next volatility period is around July 23rd.

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(BTCKRW 1W chart)
If the price is maintained above the 31500000-35545000 range, it is expected that the uptrend will continue.

In particular, it remains to be seen if the price can sustain above the 39331000 point.

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(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.

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(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.

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(USDT 1D Chart)
It is still falling along the downtrend line.
We need to see support and see if we can move higher at 61.765B.

It is important to see if the volatility around July 21st allows USDT to turn into an uptrend.

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We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, 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 the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.

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** 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)

[Example of exchange chart setup]

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

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