readCrypto

Bitcoin (BTC) - June 7

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BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W Chart)
We need to see if we can move higher along the uptrend line (2) and move above the 45135.66 point.

Point 28923.63 is a strong support point.
So, if it goes down, you should check to see if it finds support at the 28923.63-32259.90 zone.

It remains to be seen if the green OBV on the volume indicator increases.
On the wRSI_SR indicator, we need to see if the RS line rises above 20 and can rise above the SR line.
It remains to be seen if the CCI line can break out of the downtrend line on the CCI-RC indicator.


(1D chart)
You are walking sideways in the section 32974.79-40586.96.

We need to see if it can move above the 37252.01 point and break out of the short-term downtrend line.

A gap drop on the USDT 1D chart appears to have driven money out of the coin market.
We need to watch the USDT chart change for a few more days to confirm the movement of funds.

If the 30437.40-32974.79 section declines, it may touch near the 25362.63 point, so careful trading is required.
In particular, you should touch the 27079.41-28923.63 section and see if you can climb.

The next volatility period is around June 14th.


(BTCUSDTPERP 1h Chart)
(UTC) Notice the movement before and after the time indicated on the chart.

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(XBTUSD 1W Chart)
We should see if we can move above the 45211.0 point by moving up along the uptrend line (2).

The 33101.0 point is a strong support point.
If it goes down, you should see support at the 27650.0-33101.0 zone.

A decline from the 27650.0 point is virtually impossible to recover from a major bear market.
Therefore, I don't think there will be any touching 18195.0-19714.5 section in the second half of this year.

A touch near the 22741.5 point is possible, and if it does, a quick rebound is expected to move it up near the 27650.0 point.


(1D chart)
We are walking sideways in the section 32986.0-40600.0.

As the USDT 1D chart appears to have dropped a gap, I think it's good to weigh the further downtrend and think about how to respond.

In that sense, we need to see if we can break out of the short-term downtrend line.
We need to see if we can move above the 37301.0 point to break out of the short-term downtrend line.

The 33101.0 point is an important point, and if it declines from this point, it is likely to touch near the 25372.0 point, so trade cautiously.

The next volatility period is around June 13th.


(1h chart)
(UTC) Notice the movement before and after the time indicated on the chart.

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(BTC Dominance (BTC.D) 1D Chart)
You should watch for any movement out of the 41.75-43.75 zone.

If BTC dominance is below 50, the price of altcoins is expected to show a quick recovery.

This year, altcoins are moving well enough to say that they are leading the market.
Accordingly, we need to look at the movements of major coins.

You need to trade with caution as there can be sharp volatility due to the decrease in trading volume on the BTC price chart.
We believe that the volatility of BTC price is more likely due to the decrease in trading volume than the volatility of BTC price due to the decline in BTC dominance.

If BTC dominance rises, we should touch the 48.81 point and see if it can move lower.

If BTC dominance is falling, you need to see if the volume on the BTC price chart is accompanied by an uptrend.

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(USDT Dominance (USDT.D) 1D Chart)
To continue the uptrend of the coin market, we will have to wait and see if it can drop below the 3.657 point at least.

The next volatility period on the USDT dominance chart is around June 13th.

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(USDT 1D Chart)
I think the rise in the gap is a sign of money flowing into the coin market.
Conversely, I think that the gap drop is a sign of money being pulled out of the coin market.

If the rise of the gap continues, the coin market is expected to rise in the near future.

If there is a continuous gap drop, it means that funds are flowing out of the coin market, so careful trading is necessary.

The gap appears to have fallen.
Accordingly, careful trading is required.

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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 the 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.

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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
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, and 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)
Komentar:
(USDT 1D Chart)
It shows a different appearance from the previously published chart.
We expect odd signs of volatility from somewhere in the coin market.
Accordingly, we will have to wait a few more days to see the situation.
Komentar:
(XBTUSD 1W Chart)
A new candle has been created.
It remains to be seen if the CCI line can break out of the downtrend line on the CCI-RC indicator.
If they move sideways this week from their current position, I would expect them to break out of the downtrend line.

The green color of the OBV in the volume indicator should increase in order to turn into a recovery trend.

[Example of exchange chart setup]

(Binance)
www.tradingview.com/x/S94aDxa8

(Upbit)
www.tradingview.com/x/DF6cGh3G/
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