readCrypto

Bitcoin (BTC) - May 23

BINANCE:BTCUSDT   Bitcoin / TetherUS
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(BTCUSDT 1W chart)
We must see if it can rise above the 45135.66 point by ascending along the uptrend line (2).

The 28923.63 point is a strong support point.
So, if it falls, we need to see if it gets support in the 28923.63-32259.90 range.

(1D chart)
We have to see if we can quickly ascend above the 38150.02 point.
In particular, it remains to be seen if it can rise along the uptrend line (2).

If it falls this way, you can touch the 30427.40-32974.79 section, so you need to trade carefully.

In order to turn into an uptrend, it must be supported by rising at least 47153.69 points.

The next volatility period is around June 1.


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

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(XBTUSD 1W chart)
It remains to be seen if it can rise above the 45211.0 point by ascending along the uptrend line (2).

The 33101.0 point is a strong support point.
If it falls, you need to make sure you get support at 27650.0-33101.0.

(1D chart)
We have to see if we can quickly ascend above the 38225.0 point.
In particular, it remains to be seen if it can rise along the uptrend line (2).

If it falls at this rate, it may fall below the 34107.5 point, so you need to trade carefully.

In order to turn to an uptrend, it must be supported by rising at least 45211.0 points.

The next volatility period is around June 1.

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

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(BTC Dominance (BTC.D) 1W chart)
You should watch for any movement that deviates from the 43.75-47.64 segment.

(1D chart)
If the BTC price falls, the price of most coins will also fall.
However, if BTC dominance is below 50, altcoins' prices are expected to show rapid resilience.

Accordingly, we need to look at the movement of major coins.

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(USDT Dominance (USDT.D) 1W chart)
You should watch for any movement that deviates from 3.374-4.158.

(1D chart)
In order to continue the upward trend of the coin market, we need to see if it can fall below the 2.670 point.

If you move up along the short-term uptrend line, you should touch the 3.374-3.460 section and see if it falls.

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(USDT 1D chart)
I think that the gap rise is a sign of funding into the coin market.
Conversely, I think that the gap fall is a sign of the draining of funds from the coin market.

It remains to be seen if the continuing gap increases can continue in the future.

If there is a continuous gap fall, it means that funds will be drained from the coin market, so careful trading is necessary.

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It is advisable to trade at your average unit price.
This is because if the price flows below your average unit price, which was on an uptrend or downtrend, there is a high possibility that you will not be able to earn a large profit due to the psychological burden.

The center of every trade starts with the average unit price 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, so that the money that ultimately corresponds to the profit can regenerate the profit.

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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 the sake of 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.
Therefore, the interpretation is the same as the conventional 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 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 and 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, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: Closing price when closed
G2: Cigar at the time of opening
(Example) Gap (G1-G2)

[Example of exchange chart setup]

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

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