readCrypto

Bitcoin (BTC) - May 4 (Variability Period-8)

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BITMEX:XBTUSD.P   Bitcoin
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(XBTUSD 1D chart)
You should watch for any movement that deviates from the 55828.0-60904.0 segment.
In particular, we have to see if we can get support from the newly formed support and resistance point at 56641.5 and rise above the 60904.0 point.

You should watch for movement within the uptrend lines (3) and (4).
Accordingly, it remains to be seen if there is a move above the 63442.0 point in the movement until around May 10th.

If it doesn't rise in the 60904.0-63442.0 range, it will eventually fall again.
So, you have to think about how to respond.

If it falls in the 48214.0-50752.0 range, Stop Loss is required to preserve profit and loss.
However, you need to trade carefully as you can touch and climb the 45211.5 point.

It remains to be seen if the red of OBV on the volume indicator turns green and can increase.

It remains to be seen if the CCI line can rise by more than 100 points on the CCI-RC indicator.
If the CCI line crosses 100 points or the EMA line, volatility may occur, so careful trading is necessary.

Due to the correction of the trend line, the volatility period has been changed from around May 4th to around May 10th.


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

We need to see if we can get support at the newly formed support and resistance point at 56641.5 and break above the short-term downtrend line drawn on the 1D chart.

In particular, we need to see if it can break above the 57577.59263.5 section of the resistance section.

If it falls, you need to make sure you are getting support in the support range of 52825.0-54962.5.

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(BTCUSDT 1W chart)
In order to continue the uptrend on the 1W chart, the price must remain above the 45135.66 point.
In the week of May 3rd, we have to watch for movements that deviate from 45135.66-57412.35

(1D chart)
You should watch for any movement that deviates from 55811.30-60886.07.
In particular, we have to see if we can get support at 56578.21, the newly formed support and resistance point, and move above 58968.31.

You should watch for movement within the uptrend channels of the uptrend lines (3) and (4).

If it does not continue to rise after breaking above the critical section of 60.886.07-63423.46, it will eventually fall.
So, you have to think about how to respond.

If it falls in the 48199.13-50736.52 section, a Stop Loss is required to preserve profit and loss.
However, you can touch the 45135.66 point and go up, so you need to trade carefully.

Due to the correction of the trend line, the volatility period has been changed from around May 4th to around May 11th.

If it breaks above 60.886.07-63423.46 and continues its ascent, it is expected to re-orientate in the 78647.80-81185.19 section.

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(BTCKRW 1W chart)
If the price remains above the 51798000 point on the 1W chart, it is expected to continue the upward trend.
We need to see if we can get support at the 65800000 point and move up the uptrend line along (3) to break off the downtrend line.

(1D chart)
We have to see if we can get support at 68567000 and get off the downtrend line.

If it falls, you need to make sure you get support in the 64246000-66007000 section, where the horizontal line is dense.

If it falls in the 56052000-58981000 range, Stop Loss is required to preserve profit and loss.
However, you need to trade carefully as you can touch and climb 51798000 points.

An attempt was made to break the downtrend line by touching above the 70694000 point.
It remains to be seen if it could rise to the 70654000-73622000 range before the next volatility period, around May 10th.


(Upbit BTCKRW 1D chart)

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(BTC Dominance (BTC.D) 1W chart)


(1D chart)
We need to see if it can move down along the downtrend line (3).
In particular, it remains to be seen if it can fall below the downtrend line (3).

We'll see if we can get resistance in the 47.64-48.81 range and see if there can be further declines.

If BTC dominance goes up, we have to see if it can get resistance in the 53.20-56.78 range.
In particular, we have to touch the downtrend line (1) and see if it can go down.

The next volatility period on the BTC Dominance chart is around May 9.
Therefore, I think that it is likely around May 9 that we can see the direction of BTC dominance.

We have to see if we can touch point 43.17, which was touched as a strange sign due to volatility around May 15th.

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(USDT Dominance (USDT.D) 1D chart)
The volatility around May 5th (May 4th-May 6th) will keep an eye out for movements that deviate from the 2.088-2.473 range.
In particular, it remains to be seen if it can fall below the downtrend line (3).

It remains to be seen if it can fall below the important uptrend line (1).
Therefore, if it falls below the uptrend line (1), the coin market is expected to continue an uptrend.

However, if it rises above 2.842 points, I think the coin market is highly likely to turn into a downtrend.

It remains to be seen if it can decline from the 2.088 point and move to the 1.266-1.654 range.

The EMA line is rising on the CCI-RC indicator, and the CCI line is rising along the EMA.
It remains to be seen if the CCI line can fall below the EMA line.

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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.
Hence, 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 published by oh92. (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 profit or loss 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: Market price at the time of opening
(Example) Gap (G1-G2)
코멘트:
(ETH Dominance (ETH.D) 1W chart)
It remains to be seen if it can rise above the 21.37 point and rise to the ETH price range where dreams become a reality.

(1D chart)
We have to see if we can break above the 17.47 point we touched on February 3.
If it does not fall below the downtrend line (2), i.e. below the 14.26 point, it is expected to continue the uptrend.

The next volatility period is around May 14th.
코멘트:
(XBTUSD 1h chart)
(UTC) The points to watch in the current situation are as follows.
1. Check whether the closing price can be generated on the 1D chart above the 55828.0 point.
2. Determine whether there will be any movements that deviate from the uptrend line (3) and the downtrend line.
3. Check whether it is possible to break above the 56641.5 point and Ichimoku Cloud's baseline in the short term.

[Example of exchange chart setup]

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

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