Bitcoin (BTC) - October 12

2020년 10월 12일

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It remains to be seen if the volume that could break through the RSI's overbought period could increase.

If the volume doesn't increase, you need to make sure it is supported at 11072.0-11244.0.

You also need to see if you can rise above 11516.5 points to gain support.

Due to the nature of the coin market, I don't think the overbought and oversold intervals of RSI are of great significance.

I think it is necessary to judge whether the force to be pushed exists in the coin market.
Since it is not easy to judge this, I think you should check it by referring to the USDT dominance chart, BTC dominance chart, TOTAL chart, and TOTAL2 chart provided by TradingView.

It is understood that there is enough power to push the coin market with the funds that have been entered so far.

In particular, it is believed that the funds that came in around August 31st are large.
If this fund is used in the coin market, it is expected that the coin market will face an upward trend once more.

However, the question is whether all altcoins can work together.
I think there is a high possibility that the trend of rising DeFi-related coins, which is currently an issue, is leading.

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(USDT Dominance 1D Chart)

You need to see if it deviates from the downtrend line (1) and (3) channels.

Around October 17th and October 28th, you may get out of the drop-off trend channel, so be sure to check the situation carefully.

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(BTC Dominance 1D Chart)

We need to see if it moves away from the downtrend line (1).

I touch the short-term uptrend line (5) and think there is a chance for volatility to occur.

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** 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 generating profit 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 trading. You must trade from a short-term investment perspective.)