(Binance BTCUSDTPERP 1D chart) You have to make sure you can do sideways on the 9233~9397 section. If you fall below the 9055.07 point, you are likely to touch below the downtrend line (4).
(OKEX BTCUSDTPERP 1D chart) You have to make sure you can sideways in the section 9246~9399.8. You should also check to see if you can gain support by rising above the 9399.8 point. If you fall below the 9148.5 point, you are likely to touch the 8721.8 point.
(USDT Dominance 1D Chart) Resistance was confirmed on the uptrend line (1). We need to make sure we can move below the 3.39 point and out of the uptrend line. We need to see if it can fall to near the 3.01 point between July 11th and 18th. If it rises above the uptrend line (1), it is expected to rise above the 3.72 point.
(BTC Dominance 1D Chart) You need to check if you can get resistance in the 64.06~64.74 section. Also, it is necessary to check if it can fall below the 63.38 point.
For USDT dominance and BTC dominance, please see the update section of the BTC chart yesterday.
** Check 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 profit or loss on investment.
Description of abbreviations shown in chart R: Resistance point or section, where a countermeasure is needed to preserve revenue. S-L: Stop-Loss point or section S: A point or section that can be purchased for profit generation as a support point or section
Thanks for sharing.
While I'm still quite bullish for the long term, I'm neutral to bearish for the shorter term. I think the 5 BTC Elliot wave to the upside is likely over, and we are in a double combo corrective wave to the downside.
The daily BTC chart does have slight bullish technical signs. However, I think more volume is needed for the bullish scenario to play out.
What do you think of the setup below?
readCrypto
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@Phi-Deltalytics, I'm looking at the analysis you share. Thank you.
I agree with your opinion.
I think BTC is slowly falling.
I think this flow will bring about a sharp drop in BTC.
I think the bullish market of altcoins is being formed using the gap.
I'm expecting it to drop below 8463 and drop to near 7757.
If the BTC goes down due to a plunge, I think it will touch the 6543 point and then sideways near the 7757 point.
I think it will form a'Pull Back' pattern to make a big rise in the medium term.
Thank you for leaving a comment and thanks for asking.
Phi-Deltalytics
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@readCrypto, Total agree the altcoin market is using this period to form the bullishness. Do you trade both?
While I'm still quite bullish for the long term, I'm neutral to bearish for the shorter term. I think the 5 BTC Elliot wave to the upside is likely over, and we are in a double combo corrective wave to the downside.
The daily BTC chart does have slight bullish technical signs. However, I think more volume is needed for the bullish scenario to play out.
What do you think of the setup below?