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(BTCUSDT 1W Chart) If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.
In particular, it remains to be seen if it can move above the 35286.51 point and turn into a short-term uptrend.
During this period of volatility (July 20-24), one thing to watch out for is the increase in volume. As the trading volume increases, I think that the price must rise or fall in order to get out of the boring movement that has been going on until now.
(1D chart) We need to see support at the 31640.22-32259.90 section and see if we can move above the 33427.52 point.
The 33949.53-37252.01 section is an important support and resistance section. The contraction of the 60 Bollinger Bands is underway, and there is a critical point in which a move above the 35286.51 point crossing the 60 SMA line is possible.
It remains to be seen whether the CCI line can break above the -100 point and the EMA line on the CCI-RC indicator. (tradingview.com/x/4xEYXuTB/) At this time, volatility may occur, so careful trading is required.
The section 28657.98-31640.22 is an important section that determines the direction. However, it is important to find support and rise above the 27048.05-31640.22 section.
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(BTCUSDTPERP 1D Chart) It remains to be seen if the 31292.61-32275.63 section can find support and move up. In particular, it remains to be seen if it can move above the 33527.51 point.
The section 28344.79-31292.61 is the section that determines the new direction. Accordingly, if it touches 28344.79-31292.61 and moves up, we expect a sharp uptrend.
If it declines from the 28344.79 point, we expect a surge in the 27K range.
I think this move will be a good opportunity to show a new uptrend.
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(XBTUSD 1W Chart) If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.
In the CCI-RC indicator, the CCI line is falling below the +100 point. (tradingview.com/x/pXxqSHjA/) As a result, it is out of the highs section. You should see a flow rising above the 33101.0 point.
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(BTC Dominance (BTC.D) 1D Chart) I think it should either rise to the 47.64-48.81 section and either go sideways or find resistance at the 50.86 point.
(USDT Dominance (USDT.D) 1D Chart) If the USDT dominance declines, the price of BTC will rise and the price of altcoins is likely to rise as well.
We'll have to wait and see if we can get resistance in the 5.220-5.466 section.
It is important to see if USDT dominance can decline during this period of volatility.
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(USDT 1D Chart) I think USDT's rise shows that money is coming into the coin market.
It is still falling along the downtrend line.
With the gap falling for two days in a row, funds are showing signs of exiting the coin market.
We need to see if we can find support at the 61.765B level and move above the 62.079B level.
It is important to see if USDT can turn into an uptrend during this period of volatility.
If you look at the USDC 1D chart (tradingview.com/x/CoVvdTp2/), it is maintaining an upward trend as opposed to the USDT 1D chart.
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(ETH Dominance (ETH.D) 1D Chart) A rise in ETH dominance could lead to a rise in ETH price. Also, I think it has some effect on the BTC price.
It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.
The strong support zone for ETH dominance is the 12.14-14.26 zone. If we maintain dominance above this range, we expect the uptrend to continue.
We will have to wait and see if we can break above the two downtrend lines.
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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.
** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly as price and volume move. 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 through split trading.
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)
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BTC price is breaking out of the downtrend line. It is important to see support at the 32290.5 point.
ETH price is trying to break out of the downtrend line. It is important to see support at the 2042.34 point.
BTC dominance is continuously falling, and ETH dominance is continuously rising. I think this shows that funds are being concentrated in ETH. Thus, the current rise appears to be led by ETH.
We believe that BTC dominance represents the rise and fall of altcoin price rather than being involved in the rise and fall of BTC price. However, the lower the BTC dominance, the more likely a whipsaw will occur, so you need to be prepared for this.
A decline in USDT dominance and USDC dominance is likely to lead to a rise in the coin market. This is because it is highly likely that you are buying coins in USDT and USDC. The USDT Dominance and USDC Dominance charts are showing a downward trend in the same pattern.
We believe that the USDT and USDC charts show the movement of funds into the coin market as stablecoins with high market cap.
Accordingly, an increase in the gap indicates that funds have flowed into the coin market through a new issuance of USDT or USDC. Conversely, a fall in the gap indicates that funds have been withdrawn from the coin market by converting USDT or USDC into fiat.
Currently, USDT is falling and USDC is rising. The decline in USDT appears to be due to the selling of BTC, and the rise in USDC appears to be due to the buying of ETH.
Since there is a difference in price units, it is not expected that it will be easy to change the current coin market trend with only an increase in USDC.
Therefore, if the selling of BTC gradually decreases, we expect that at some point the ETH price will surge and change the trend of the coin market.