Bitcoin (XBT) - February 7 (when to choose direction)
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We have to see if we can get support at 40340.0-41433.5.
If it falls, we need to make sure we get support at 38225.0
If you decline at 34107.5, you need a short stop loss.
If it falls in the 27039.5-29350.0 interval, it is expected to turn into a downtrend, so you need to think about how to respond.
If it gets support at 40340.0-41433.5, it is expected to re-determine the flow of BTC.
It remains to be seen if it can rise within the short-term bullish channel.
The 38225.0-44715.0 section is the section that is likely to decline after completing the'M' pattern.
Accordingly, I think it is good to see an upward movement accompanied by a large amount of trading.
It remains to be seen if the volume indicator's OBV can rise as the buy width (green) increases near the 13.496B point.
In the wRSI_SR indicator, the RS and SR lines have risen to more than 80 points.
As a result, volatility may occur, so careful trading is necessary.
On the CCI-RC indicator, we must see if the CCI line can intersect the EMA line.
The next volatility period is around February 10th.
It's time to watch the BTC flow again.
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(BTC Dominance 1D Chart)
It remains to be seen if the volatility around February 7th (February 6--8) causes any movement that deviates from 61.20-67.44.
BTC dominance rose as the price of BTC rose.
I think this means that the funds are being concentrated in BTC.
Accordingly, it is highly likely that altcoins' prices will move sideways or fall.
If the BTC dominance falls when the BTC price reaches a certain section or point and moves sideways, the price of altcoins is expected to rise.
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(USDT Dominance 1D Chart)
Between February 3 and 16, we have to watch for movements that deviate from 2.187-2.842.
The upward trend line (1) has been touched since February 14, 2020.
This time we need to see if it can fall below the uptrend line (1).
If it fails to fall below the uptrend line (1) this time, I think there is a high possibility that it will turn into a downtrend as it is.
Therefore, I think it is more important to choose when to recover the principal investment and to select a selling point to realize profits rather than a new investment.
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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 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 conventional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula from the DepthHouse Trading indicator, an indicator that oh92 disclosed. (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 profits or losses 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: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
We have to see if we can get support at 40340.0-41433.5.
If it falls, we need to make sure we get support at 38225.0
If you decline at 34107.5, you need a short stop loss.
If it falls in the 27039.5-29350.0 interval, it is expected to turn into a downtrend, so you need to think about how to respond.
If it gets support at 40340.0-41433.5, it is expected to re-determine the flow of BTC.
It remains to be seen if it can rise within the short-term bullish channel.
The 38225.0-44715.0 section is the section that is likely to decline after completing the'M' pattern.
Accordingly, I think it is good to see an upward movement accompanied by a large amount of trading.
It remains to be seen if the volume indicator's OBV can rise as the buy width (green) increases near the 13.496B point.
In the wRSI_SR indicator, the RS and SR lines have risen to more than 80 points.
As a result, volatility may occur, so careful trading is necessary.
On the CCI-RC indicator, we must see if the CCI line can intersect the EMA line.
The next volatility period is around February 10th.
It's time to watch the BTC flow again.
-----------------------------------------------
(BTC Dominance 1D Chart)
BTC dominance rose as the price of BTC rose.
I think this means that the funds are being concentrated in BTC.
Accordingly, it is highly likely that altcoins' prices will move sideways or fall.
If the BTC dominance falls when the BTC price reaches a certain section or point and moves sideways, the price of altcoins is expected to rise.
--------------------------------------------------
(USDT Dominance 1D Chart)
This time we need to see if it can fall below the uptrend line (1).
If it fails to fall below the uptrend line (1) this time, I think there is a high possibility that it will turn into a downtrend as it is.
Therefore, I think it is more important to choose when to recover the principal investment and to select a selling point to realize profits rather than a new investment.
-------------------------------------------------- -------------------------------------------
** 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 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 conventional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula from the DepthHouse Trading indicator, an indicator that oh92 disclosed. (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 profits or losses 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: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
[Example of exchange chart setup]
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
If you forcefully enter a position and start trading, you will end up losing more.
If you keep the section where you enter the position and the Stop Loss point, I think you can close the position with profit.
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(LONG)
1. Entry point: When it exceeds 40061.5 point
Target point: 1st 41556.5 point or higher, 2nd 43052.0 point or higher
Stop Loss: 39563.0 point
2. Entry point: When exceeding 43550.5 point
Target point: 44547.5 points or more
Stop Loss: 43052.0 point
(SHORT)
1. Entry point: When breaking below the 43052.0 point
Target point: 1st 41556.5 or less, 2nd 40061.5 or less
Stop Loss: 43550.5 point
2. Entry point: When breaking below 39563.0 point
Target point: 38566.0 point or less
Stop Loss: 40061.5 point
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If you continue to read my article, I think you won't need entry points, target points, and Stop Loss.
I think you understand where the movement begins.
We are trying to tell you easily in a format that anyone can understand.
However, I think that whether or not you can proceed with the transaction by digesting it with your own, it depends on whether you have invested a lot of time and verified it.
It's also important to get a lot of profits from short-term strategies, but if you think that short-term strategies will increase your ability to trade mechanically, I think you'll definitely start to get good results.
(OKEX BTCUSDTPERP 1h chart)-Short term strategy
(LONG)
1. Entry point: When breaking above the 39917.4 point
Target point: 1st point 41402.1 or higher, 2nd point 44206.8 point or higher
Stop Loss: 39422.5 point
2. Entry point: When it exceeds 43381.7 point
Target point: 44371.5 point or higher
Stop Loss: 42886.8 point
(SHORT)
1. Entry point: When breaking down from the point of 42886.8
Target point: 1st 41402.1 point or less, 2nd 39917.4 point or less
Stop Loss: 43381.7 point
2. Entry point: When breaking down the 39422.5 point
Target point: 38432.7 point or less
Stop Loss: 39917.4 point
(Binance BTCUSDTPERP 1h chart)
Please refer to the short-term strategy descriptions on other charts to create a short-term strategy.