Bitcoin (BTC) - July 22 (volatility period July 20-24)
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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 the CCI-RC indicator, the CCI line is falling below the +100 point. (tradingview.com/x/Jdj8ArDT/)
As a result, it is out of the highs section.
You should see a flow rising above the 33101.0 point.
During this period of volatility (July 20-24), one thing to watch out for is the increase in volume.
As the trading volume increases, I think that the price must rise or fall in order to get out of the tedious movement that has been going on until now.
Unlike other years, this year's coin market has concentrated a lot of money in ETH.
When the BTC price was bearish, I believe that the concentration of funds in ETH had an effect on the BTC price.
During this period of volatility, we need to see if we can see any changes in the dominance of ETH and the price of BTC.
A comprehensive interpretation of the BTC.D, ETH.D, USDT.D, and USDT charts is as follows.
This rise indicates that some funds have been pulled out of the coin market. (The gap in the USDT.D chart has fallen)
It is not a leading increase in BTC price, but a concurrent increase due to the concentration of funds in ETH.D.
This is because BTC dominance is showing a decline even though the BTC price has risen.
I don't think that the coin market can be turned into an uptrend by just rising due to the concentration of ETH funds.
A leading rise in BTC should come out.
As I said above, I think some of the funds have been withdrawn from the coin market for this rise.
It is possible that this withdrawal of funds was due to the sale of BTC.
If the mining system is overhauled and BTC sales stop, it is expected to lead to a leading rise in BTC.
(1D chart)
We need to see support at the 31536.5 point and see if we can move above the 33101.0 point.
If the price holds above the 33101.0 point around July 23-August 1, I think it is likely to turn into an uptrend.
The section 28515.5-31536.5 is the section that determines the new direction.
Accordingly, if it rises in the 28515.5-31536.5 section, it is expected to create an upward trend.
We see the maximum decline in the 27K range, so a sharp rise is expected when the 27071 point is touched.
If the trading volume explodes and falls to the 28515.5 point, there is a possibility of touching the 20632.5-22473.0 zone.
However, it is expected that it will be difficult to touch the 20K-22K range with the movements shown so far.
Looking at the OBV on the volume indicator, it was only showing red before June 30th.
However, in July, the green color of OBV started to appear intermittently.
We believe this move is most likely a harbinger of a transition from a sell-to-buy trend.
Therefore, if the price declines to the maximum of 27K, it is expected that there will be a sharp rise along with price defense caused by many buying forces.
On the wRSI_SR indicator, it remains to be seen whether the RS line breaks above the 20 point and above the SR line and rises to build a short-term 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. (tradingview.com/x/SCEPWo0w/)
----------------------------------
(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.
-------------------------------------
(BTCUSDTPERP 1D Chart)
It remains to be seen if the 31292.61-32275.63 section can find support and move up.
The section 28344.79-31292.61 is the section that determines the new direction.
Accordingly, if it touches 28344.79-31292.61 and moves up, we expect a sharp uptrend.
If it declines from the 28344.79 point, we expect a surge in the 27K range.
I think this move will be a good opportunity to show a new uptrend.
------------------------------------
(BTCKRW 1W chart)
If the price is maintained above the 31662000-35545000 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.
----------------------------------------
(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.
------------------------------------------------------------
(USDT Dominance (USDT.D) 1D Chart)
If the USDT dominance declines, the price of BTC will rise and the price of altcoins will likely rise as well.
We'll have to wait and see if we can get resistance in the 5.220-5.466 section.
It is important to see if USDT dominance can decline during this period of volatility.
----------------------------
(USDT 1D Chart)
I think USDT's rise shows that money is coming into the coin market.
It is still falling along the downtrend line.
We need to see if we can find support at the 61.765B level and move above the 62.079B level.
It is important to see if USDT can turn into an uptrend during this period of volatility.
----------------------------------
(ETH Dominance (ETH.D) 1D Chart)
A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.
It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.
The strong support zone for ETH dominance is the 12.14-14.26 zone.
If we maintain dominance above this range, we expect the uptrend to continue.
------------------------------------------
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 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.
------------------------------------------------------------ -------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly as price and volume move.
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, or 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)
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------
(XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.
In the CCI-RC indicator, the CCI line is falling below the +100 point. (tradingview.com/x/Jdj8ArDT/)
As a result, it is out of the highs section.
You should see a flow rising above the 33101.0 point.
During this period of volatility (July 20-24), one thing to watch out for is the increase in volume.
As the trading volume increases, I think that the price must rise or fall in order to get out of the tedious movement that has been going on until now.
Unlike other years, this year's coin market has concentrated a lot of money in ETH.
When the BTC price was bearish, I believe that the concentration of funds in ETH had an effect on the BTC price.
During this period of volatility, we need to see if we can see any changes in the dominance of ETH and the price of BTC.
A comprehensive interpretation of the BTC.D, ETH.D, USDT.D, and USDT charts is as follows.
This rise indicates that some funds have been pulled out of the coin market. (The gap in the USDT.D chart has fallen)
It is not a leading increase in BTC price, but a concurrent increase due to the concentration of funds in ETH.D.
This is because BTC dominance is showing a decline even though the BTC price has risen.
I don't think that the coin market can be turned into an uptrend by just rising due to the concentration of ETH funds.
A leading rise in BTC should come out.
As I said above, I think some of the funds have been withdrawn from the coin market for this rise.
It is possible that this withdrawal of funds was due to the sale of BTC.
If the mining system is overhauled and BTC sales stop, it is expected to lead to a leading rise in BTC.
(1D chart)
We need to see support at the 31536.5 point and see if we can move above the 33101.0 point.
If the price holds above the 33101.0 point around July 23-August 1, I think it is likely to turn into an uptrend.
The section 28515.5-31536.5 is the section that determines the new direction.
Accordingly, if it rises in the 28515.5-31536.5 section, it is expected to create an upward trend.
We see the maximum decline in the 27K range, so a sharp rise is expected when the 27071 point is touched.
If the trading volume explodes and falls to the 28515.5 point, there is a possibility of touching the 20632.5-22473.0 zone.
However, it is expected that it will be difficult to touch the 20K-22K range with the movements shown so far.
Looking at the OBV on the volume indicator, it was only showing red before June 30th.
However, in July, the green color of OBV started to appear intermittently.
We believe this move is most likely a harbinger of a transition from a sell-to-buy trend.
Therefore, if the price declines to the maximum of 27K, it is expected that there will be a sharp rise along with price defense caused by many buying forces.
On the wRSI_SR indicator, it remains to be seen whether the RS line breaks above the 20 point and above the SR line and rises to build a short-term 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. (tradingview.com/x/SCEPWo0w/)
----------------------------------
(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.
-------------------------------------
(BTCUSDTPERP 1D Chart)
It remains to be seen if the 31292.61-32275.63 section can find support and move up.
The section 28344.79-31292.61 is the section that determines the new direction.
Accordingly, if it touches 28344.79-31292.61 and moves up, we expect a sharp uptrend.
If it declines from the 28344.79 point, we expect a surge in the 27K range.
I think this move will be a good opportunity to show a new uptrend.
------------------------------------
(BTCKRW 1W chart)
If the price is maintained above the 31662000-35545000 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.
----------------------------------------
(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.
------------------------------------------------------------
(USDT Dominance (USDT.D) 1D Chart)
If the USDT dominance declines, the price of BTC will rise and the price of altcoins will likely rise as well.
We'll have to wait and see if we can get resistance in the 5.220-5.466 section.
It is important to see if USDT dominance can decline during this period of volatility.
----------------------------
(USDT 1D Chart)
I think USDT's rise shows that money is coming into the coin market.
It is still falling along the downtrend line.
We need to see if we can find support at the 61.765B level and move above the 62.079B level.
It is important to see if USDT can turn into an uptrend during this period of volatility.
----------------------------------
(ETH Dominance (ETH.D) 1D Chart)
A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.
It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.
The strong support zone for ETH dominance is the 12.14-14.26 zone.
If we maintain dominance above this range, we expect the uptrend to continue.
------------------------------------------
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 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.
------------------------------------------------------------ -------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly as price and volume move.
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, or 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)
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