readCrypto

Bitcoin (BTC) - June 4

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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.

(1D chart)
It needs to rise above the 40586.96 point and find support to turn into an uptrend.

If support is found in the 37252.01-38150.02 section, it is expected to touch the 40586.96-41950.0 section, which is the primary resistance section.

If it falls from the 30437.40-32974.79 section, you can touch the 25362.63 point, so you need to trade carefully.
However, it is necessary to deal with the important section, 27079.41-28923.63 section, as it may lead to a sharp rise.


(BTCUSDTPERP 1h Chart)
(UTC) Notice the movement before and after the time shown 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 check to see if it finds 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.


(1D chart)
Although it has been showing a downward trend since May 9, I think the bear market has started with the decline in the 48214.0-50752.0 section.

Somehow, after falling, it is showing a sideways trend in the 32986.0-40600.0 section.

We need to see if we can break through the 40600.0 (40163.5)-42084.0 section, the primary resistance section, and the 45211.0-47265.5 section, the secondary resistance section.

If it fails to break through the 1st resistance zone and declines, I expect support from the 30448.0-32986.0 zone and move higher.
This is because it is an extension of wave a of the bearish wave and no further decline is expected.

If it fails to break through the 2nd resistance area and falls, I would expect it to fall near or below the 25372.0 point.
This is because more declines are expected with the decline corresponding to wave c of the bearish wave.

If you look at the chart in the big picture, the 32986.0-48214.0 section is a sideways section.
The section 32986.0-40600.0 is the lower sidewalk section, and the section 40600.0-48214.0 section is the upper sidewalk section.
So, it doesn't matter where you're going sideways to stock up on power.
However, if you go sideways in the lower sideways section, it will only lead to a difficult situation for individual traders.

Therefore, even if it fails to break through the secondary resistance section, if it does not fall below the 40600.0 point, it is expected to consolidate in the upper consolidation section.

It needs to rise at least above the 40163.5 point to find support in order to turn into an uptrend.
However, in order to continue the uptrend in earnest, it must break through the 48214.0-50752.0 section.

If it breaks through the 48214.0-50752.0 section, it is expected that the altcoin market will continue and BTC will decide the direction again in the 78670.0-81208.0 section.


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

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(BTC Dominance (BTC.D) 1D Chart)
We will have to wait and see if we can break below the 43.17 point.

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

The movement of altcoins is good enough to say that altcoins are leading the market this year.
Accordingly, we need to look at the movements of major coins.

The next volatility period on the BTC dominance chart is around June 6th (June 5-7).

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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 3.374 point.

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 the gap falls continuously, it means that funds are flowing out of the coin market, so careful trading is necessary.

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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 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)
코멘트:
(USDT 1D Chart)
Since USDT is moving out of the uptrend line, it is recommended to set it aside to withdraw your investment just in case.

Volatility is expected around June 6 (June 5-7).
코멘트:
(BTCUSDT 1D Chart)
The price is falling with the volume declining.
This is likely a fake and requires careful trading.

[Example of exchange chart setup]

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

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