Bitcoin (including BTC, short-term strategy) - January 23 Hello?
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It remains to be seen if the volatility around the 23rd of January results in a movement that deviates from the 29350.0-38152.5 range.
In particular, you should check if you can ascend above 34107.5 points.
We'll have to see if we can climb at least 33062.5 points and stop the Heikin Ashi candle on the 1W chart from turning into a falling candle.
If it goes down, you need to make sure you get support at 31589.5.
If it falls in the 27039.5-29350.0 interval, it is expected to turn to a downtrend, so you need to prepare for it.
I think the 31589.5-34871.0 section is a sideways section to ascend to the 34871.0-35964.5 section.
Accordingly, it may move sideways between 31589.5-34871.0.
What matters in your current position is whether you can rise along the uptrend line (1) and break above the downtrend line (8).
On the CCI-RC indicator, it remains to be seen if the CCI line can rise above the uptrend line.
You also have to see if it can rise above the EMA line.
We need to see if we can get off the downtrend line (8) before the next volatility period, around January 28th-around February 4th.
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(BTC Dominance 1D Chart)
You should watch for any movement that deviates from 64.86-65.89.
It remains to be seen if it could fall below the 63.38 point and turn into a mid- to long-term downtrend.
(1W chart)
I think the decline in BTC dominance is related to the rise and fall of altcoin prices rather than the rise and fall of BTC prices.
Accordingly, if it falls below the 63.38 point, I think the coin market is likely to be a bull market.
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(USDT Dominance 1D Chart)
It remains to be seen if the volatility around January 23rd (January 22nd-24th) leads to a movement that deviates from the 2.349-2.842 range.
In particular, we need to see if it can drop below the 2.541 point.
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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 traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula from 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 or 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 or CME and BAKKT exchanges were closed because they are not trading 24 hours a day.
G1: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
