Check support at 115854.56-119086.64
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(BTCUSDT 1D chart)
On the 1W chart, the DOM(60) indicator was created at the 119086.64 point.
Accordingly, the key is whether it can be supported near 119086.64.
The meaning of the DOM(60) indicator is to show the end of the high point.
In other words, if it rises above HA-High ~ DOM(60), it means that there is a high possibility of a stepwise upward trend.
On the other hand, if it fails to rise above DOM(60), it is likely to turn into a downtrend.
The basic chart for chart analysis is the 1D chart.
Therefore, if possible, check the trend of the 1D chart first.
The DOM(60) indicator of the 1D chart is currently formed at the 111696.21 point.
And, the HA-High indicator was created at the 115854.56 point.
Therefore, since it cannot be said that the DOM(60) indicator of the 1D chart has been created yet, if the price is maintained near the HA-High indicator, it seems likely to rise until the DOM(60) indicator is created.
We need to look at whether the DOM(60) indicator will be created while moving sideways at the current price position or if the DOM(60) indicator will be created when the price rises.
If the price falls and falls below 111696.21, and the HA-High indicator is generated, the HA-High ~ DOM(60) section is formed, so whether there is support in that section is the key.
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Since the DOM(60) indicator on the 1W chart was generated, if it fails to rise above the DOM(60) indicator, it is highly likely that the HA-High indicator will be newly generated as it eventually falls.
Therefore, you should also look at where the HA-High indicator on the 1W chart is generated when the price falls.
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The next volatility period is around July 18 (July 17-19).
Therefore, you should look at which direction it deviates from the 115854.56-119086.64 section after this volatility period.
Since the K of the StochRSI indicator fell from the overbought section and changed to a state where K < D, it seems likely that the rise will be limited.
However, since the PVT-MACD oscillator indicator is above 0 and the OBV indicator is OBV > OBV EMA, it is expected that the support around 115845.56 will be important.
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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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