Support around 115854.56-116868.0 is the key
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(BTCUSDT 1D chart)
The DOM(60) indicator of the 1W chart is generated at the 119177.56 point, and the DOM(60) indicator of the 1D chart is generated at the 119086.64 point, and then shows a downward trend.
However, since the HA-High indicator is formed at the 115854.56 point, it is difficult to say that it has yet turned into a downward trend.
Accordingly, it is necessary to check whether it is supported in the HA-High ~ DOM(60) section.
The next volatility period is expected to occur around July 25 (July 24-26).
However, the important volatility period is expected to be around August 2-5 (maximum August 1-6), so we need to look at what kind of movement it shows as it passes through the volatility period that will occur in the future.
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Since the StochRSI indicator has entered the oversold zone, there is a possibility that the decline will be restricted.
Therefore, the key is whether there is support around 115854.56-116868.0.
This is because if it falls below the HA-High indicator, there is a possibility that a downtrend will begin.
Also, since the M-Signal indicator on the 1D chart is rising around 115854.56, it can be seen as an important zone.
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An indicator called Trend Check has been added to the OBV indicator.
This indicator is an indicator that comprehensively evaluates the StochRSI, PVT-MACD oscillator, and OBV indicators and expresses them in a column.
Accordingly, if the TC indicator rises from the 0 point, it can be interpreted that the buying force is dominant, and if it falls, the selling force is dominant.
Therefore, if it rises above 0, it is likely to show an upward trend, and if it falls below 0, it is likely to show a downward trend.
Also, if the TC indicator touches the highest point (6) or lowest point (-6), there is a high possibility that the trend will reverse, so you should think about a response plan for this.
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Thank you for reading to the end.
I hope you have a successful trade.
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- Here is an explanation of the big picture.
(3-year bull market, 1-year bear market pattern)
I will explain the details again when the bear market starts.
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