Bitcoin (BTC) - August 12
Updated
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(BTCUSDT 1D Chart)
Primary resistance: around 25K
Secondary resistance: 27K-29K
1st support: 22579.68-22753.10
2nd support: 21475.02-21838.98
If the price is maintained above the 22579.68-22753.10 range, it is expected to maintain an uptrend.
- The RSI indicator entered the overbought zone, but the Stoch RSI did not enter the overbought zone.
Accordingly, it is necessary to check at which point the RSI finds support and resistance when it moves out of the overbought zone.
If support is found at or above the 23312.42-23810.98 zone, I would expect a break above 25K.
If it falls below the 22579.68-22753.10 range, it may turn into a downtrend, so you should think about countermeasures.
(1h chart)
** On the 1h chart, a sharp move is likely to occur, so a short-term response is recommended.
The sections marked with ovals and the sections marked with square boxes are support and resistance sections.
Therefore, a rebound or reversal is likely to occur during this period.
the important point
21838.98,
22579.68,
23312.42,
It is 23810.98.
The main position is 'LONG' as it is maintaining an upward trend on the 1D chart.
When deciding on a position, it is important what criteria you use to decide.
These standards should include countermeasures against forced liquidation.
Therefore, holding cash is important even in perpetual futures trading.
If you have used all your funds without holding cash, it is important to secure cash by selling quickly in installments.
I mentioned that in spot trading, a trading strategy that can reduce losses is more important than trading for profit.
The same is true for perpetual futures trading.
However, the only difference is that leverage and forced liquidation exist, so a more aggressive strategy is required.
Therefore, a quick decision is required to close a position, convert, or stop loss.
A way to complement this decision is leverage ratio adjustment and investment size.
If you continue to face the threat of forced liquidation after entering a position, we recommend adjusting your leverage ratio and adjusting your investment size.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points.
** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry through split trading. It is a short-term investment perspective.)
---------------------------------
Welcome, traders.
If you "follow", you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------
(BTCUSDT 1D Chart)
Primary resistance: around 25K
Secondary resistance: 27K-29K
1st support: 22579.68-22753.10
2nd support: 21475.02-21838.98
If the price is maintained above the 22579.68-22753.10 range, it is expected to maintain an uptrend.
- The RSI indicator entered the overbought zone, but the Stoch RSI did not enter the overbought zone.
Accordingly, it is necessary to check at which point the RSI finds support and resistance when it moves out of the overbought zone.
If support is found at or above the 23312.42-23810.98 zone, I would expect a break above 25K.
If it falls below the 22579.68-22753.10 range, it may turn into a downtrend, so you should think about countermeasures.
(1h chart)
** On the 1h chart, a sharp move is likely to occur, so a short-term response is recommended.
The sections marked with ovals and the sections marked with square boxes are support and resistance sections.
Therefore, a rebound or reversal is likely to occur during this period.
the important point
21838.98,
22579.68,
23312.42,
It is 23810.98.
The main position is 'LONG' as it is maintaining an upward trend on the 1D chart.
When deciding on a position, it is important what criteria you use to decide.
These standards should include countermeasures against forced liquidation.
Therefore, holding cash is important even in perpetual futures trading.
If you have used all your funds without holding cash, it is important to secure cash by selling quickly in installments.
I mentioned that in spot trading, a trading strategy that can reduce losses is more important than trading for profit.
The same is true for perpetual futures trading.
However, the only difference is that leverage and forced liquidation exist, so a more aggressive strategy is required.
Therefore, a quick decision is required to close a position, convert, or stop loss.
A way to complement this decision is leverage ratio adjustment and investment size.
If you continue to face the threat of forced liquidation after entering a position, we recommend adjusting your leverage ratio and adjusting your investment size.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points.
** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry through split trading. It is a short-term investment perspective.)
---------------------------------
Note
(BTC.D 1W Chart)If the BTC dominance falls below 40.44, it will increase the likelihood of sudden volatility, so trade cautiously.
Based on the previous trend, it is likely that the BTC price will drop sharply, but it is not known which direction it will actually move.
Therefore, you need to check the support and resistance points of the coins (tokens) you are holding and think of a strategy to respond when they break out of support and resistance points.
(ETH.D 1W chart)
We compared the flow of ETH dominance at the time of the trend reversal of BTC dominance.
If ETH dominance falls below the 18.54-20.13 range, a strong decline is expected.
Conversely, if held above 20.13, it is expected to lead to a surge.
Note
(USDT.D 1M Chart)The USDT dominance is showing an upward trend as a lot of money has flowed into the coin market through USDT.
Therefore, it is impossible to interpret the overall trend.
However, it can be interpreted that when the short-term trend shows a downtrend, the coin market is highly likely to show an uptrend.
(1D chart)
If it goes down along the downtrend line, the coin market is likely to go up.
If not, the coin market is likely going downhill.
However, it is expected that the USDT dominance will begin to show a real uptrend when it falls below the 4.97-5.53 range.
USDT dominance can only give you a rough idea of the overall flow of the coin market.
I think BTC dominance is an indicator of whether funds are concentrated towards BTC or altcoins.
Therefore, the rise and fall of BTC dominance should not be interpreted as indicating an increase or decrease in BTC price.
Note
(USDT + USDC 1W chart)I think the leadership of the coin market is shifting with the rise of USDC.
I think that the leadership of the coin market is shifting from all over the world (China) to institutional investors in the United States.
The shift in initiative is expected to enable incorporation into the stock market.
Therefore, the existing stock market is also expected to change.
The coin market is expected to firmly establish itself as a new investment market.
Money is moving into the coin market through stablecoins such as USDT and USDC.
Accordingly, the charts of USDT and USDC are continuing their upward trend.
The inflows and outflows of funds appear to create gaps in the chart.
Therefore, when the gap rises in the chart, it can be interpreted as an inflow of funds from the coin market.
I think that the coin market will show a full-fledged upward trend only when funds flow into the coin market first.
Therefore, it is expected that the coin market will show a full-fledged upward trend when USDT rises above 68.468B.
So, it remains to be seen whether it can rise above 68.468B by the end of September.
On the USDT chart, it appears that the first bullish wave is closing.
When USDC markets are active on most exchanges, USDC is expected to outperform USDT.
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