Bitcoin (BTC) - December 23
Updated
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We'll get support at 23502.86 and see if we can climb above 23800.0.
With volatility around December 24th (December 23-25), it will rise along the uptrend line (6) and see if you can touch the 24749.72 point.
If you fall below the uptrend line (6) during the above volatility period, or if you touch the 21632.57-22256.0 again, it is expected to fall below the 21632.54 point, so careful trading is necessary.
This is due to the BTC dominance rising above 67.44 points.
If it declines at 21632.57, a Stop Loss is required to preserve profit and loss.
There is a possibility to rebound after touching the MS-Signal line.
The MS-Signal line is one of the most basic lines I am using to identify trends.
(I made it, so I can't find it anywhere.)
When the wRSI_SR indicator is on a short-term downtrend, the price rises and lies near the 23502.86 point.
We need to see if the short-term downtrend reverses, moving sideways near the 23502.86 point.
If it turns from a short-term downtrend, it is highly likely that further price increases will occur.
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(OKEX BTCUSDT 1D chart)
We have to see if we can ascend above 23819.3 points.
If it falls, we need to see if we can get support at 23296.8.
We have to see if we can climb along the uptrend line (5)
If it falls at the 21482.1 point, a Stop Loss is needed to preserve profit and loss.
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(Coinbase BTCUSD 1D chart)
We'll get support at 23474.30 and see if we can climb above 23776.94.
It remains to be seen if the volatility around December 24 can move up along the uptrend line (5).
If it falls at 21612.58, you need a Stop Loss to preserve your profit and loss.
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(BTC Dominance 1D Chart)
It is on the rise after breaking above the 67.44 point.
We have to see if we can get below the 67.44 point.
If BTC dominance rises as the price of BTC declines, I think it is likely to cause a plunge.
However, looking at the current trend, as the BTC price rises, the BTC dominance is also rising.
If the BTC price rises to some extent (more than 23837.5 points on the XBTUSD chart), I think there is a possibility that BTC dominance will decline as the altcoin price rises.
However, from 67.44 point or higher, it is a section that is likely to turn into a downtrend, so you should always check the flow of the coin market.
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(USDT Dominance 1D Chart)
It remains to be seen if the USDT dominance can hit resistance and decline at 3.285.
I think the chart you should look at along with BTC price and BTC dominance is the USDT dominance chart.
I think the USDT dominance chart shows the movement of funds in the coin market.
Therefore, it is necessary to confirm the movement of BTC dominance beforehand.
If USDT dominance moves sideways or falls below the 3.285-3.374 range, it can be said that the coin market is unlikely to turn into a downtrend.
We need to see if the volatility between December 24th and 27th will cause any movement to deviate from the 2.970-3.374 range.
Accordingly, you should get resistance at the uptrend line (5) and the downtrend line (2).
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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)
** CCI-RC indicator is an indicator created by changing the set value from the existing CCI indicator. Therefore, the interpretation is the same as the existing CCI indicator.
** 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 trading. You should trade from 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'll get support at 23502.86 and see if we can climb above 23800.0.
With volatility around December 24th (December 23-25), it will rise along the uptrend line (6) and see if you can touch the 24749.72 point.
If you fall below the uptrend line (6) during the above volatility period, or if you touch the 21632.57-22256.0 again, it is expected to fall below the 21632.54 point, so careful trading is necessary.
This is due to the BTC dominance rising above 67.44 points.
If it declines at 21632.57, a Stop Loss is required to preserve profit and loss.
There is a possibility to rebound after touching the MS-Signal line.
The MS-Signal line is one of the most basic lines I am using to identify trends.
(I made it, so I can't find it anywhere.)
When the wRSI_SR indicator is on a short-term downtrend, the price rises and lies near the 23502.86 point.
We need to see if the short-term downtrend reverses, moving sideways near the 23502.86 point.
If it turns from a short-term downtrend, it is highly likely that further price increases will occur.
-------------------------------------------------- ---
(OKEX BTCUSDT 1D chart)
We have to see if we can ascend above 23819.3 points.
If it falls, we need to see if we can get support at 23296.8.
We have to see if we can climb along the uptrend line (5)
If it falls at the 21482.1 point, a Stop Loss is needed to preserve profit and loss.
-------------------------------------------------- -----
(Coinbase BTCUSD 1D chart)
We'll get support at 23474.30 and see if we can climb above 23776.94.
It remains to be seen if the volatility around December 24 can move up along the uptrend line (5).
If it falls at 21612.58, you need a Stop Loss to preserve your profit and loss.
------------------------------------------------
(BTC Dominance 1D Chart)
It is on the rise after breaking above the 67.44 point.
We have to see if we can get below the 67.44 point.
If BTC dominance rises as the price of BTC declines, I think it is likely to cause a plunge.
However, looking at the current trend, as the BTC price rises, the BTC dominance is also rising.
If the BTC price rises to some extent (more than 23837.5 points on the XBTUSD chart), I think there is a possibility that BTC dominance will decline as the altcoin price rises.
However, from 67.44 point or higher, it is a section that is likely to turn into a downtrend, so you should always check the flow of the coin market.
-------------------------------------------------- ----
(USDT Dominance 1D Chart)
It remains to be seen if the USDT dominance can hit resistance and decline at 3.285.
I think the chart you should look at along with BTC price and BTC dominance is the USDT dominance chart.
I think the USDT dominance chart shows the movement of funds in the coin market.
Therefore, it is necessary to confirm the movement of BTC dominance beforehand.
If USDT dominance moves sideways or falls below the 3.285-3.374 range, it can be said that the coin market is unlikely to turn into a downtrend.
We need to see if the volatility between December 24th and 27th will cause any movement to deviate from the 2.970-3.374 range.
Accordingly, you should get resistance at the uptrend line (5) and the downtrend line (2).
-------------------------------------------------- -------------------------------------------
** 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)
** CCI-RC indicator is an indicator created by changing the set value from the existing CCI indicator. Therefore, the interpretation is the same as the existing CCI indicator.
** 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 trading. You should trade from 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
(BTC Dominance, USDT Dominance 1D Chart)You should see if the USDT dominance is resisting and falling either at the uptrend line (6) or between 3.285-3.374.
(BTCUSDT 1D chart)
If the section goes sideways and becomes 22797.16-23800.0, I think it is highly likely to lead to an additional price increase.
So, we need to see if there's any movement outside the 22256.0-24749.72 range during the volatility period around December 24th.
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