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It remains to be seen if it can rise above the XBTUSD chart (60904.0 point) and the BTCUSDT chart (60886.07 point) to gain support.
If it doesn't rise, there is a possibility that it will move sideways until around April 28th. I think that the section of this sideways movement is likely to be the XBTUSD chart (57577.5-60904.0 section) and the BTCUSDT chart (57412.35-60886.07 section).
However, it may fall along the downtrend line, so you need to trade carefully. If it does not fall below the downtrend line and falls along the trend line, it is expected to lead to an uptrend.
In order for BTC price to gain support above the XBTUSD chart (60904.0 point), BTCUSDT chart (60886.07 point) and above, it is thought that the trading volume needs to be increased. As a result, BTC dominance is expected to rise, so altcoins' prices may move sideways or fall. I think it is good to check the support and resistance points of the altcoins you have.
We have to see if there can be any movement to create a new wave.
(BTCUSDT 1D chart) If you look at the chart a bit larger, you can say that 50736.52-60886.07 is a sideways section. Among those sideways, it is currently running sideways in the 55811.30-60886.07 section.
In order to climb above the 60886.07 point, we must continue to move sideways in the 58352.80-60886.07 section and see if we can make a breakthrough attempt.
As the sideways section gradually narrows, the lows are rising. We'll have to see if we can ascend this time in the 58352.80-60886.07 range, stocking up and dissipating the last force.
I think it is necessary to increase the trading volume in order to rise above the 60886.07 point. It remains to be seen if the center line can rise as the green of OBV in the volume indicator increases.
If you fall in the 558811.30 section, you will need a short stop loss. However, you need to trade carefully as you can go up by touching the 48199.13-50736.52 section or the uptrend line (5).
If it does not fall below the downtrend line (7) and falls along the trend line, it is highly likely to lead to an uptrend.
The next volatility period is around April 28th.
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(XBTUSD 1D chart) You should watch for any movement that deviates from the 58282.0-60904.0 segment. In particular, we have to see if we can keep the price above the downtrend line (7).
If it falls in the 55828.0 section, a short Stop Loss is required. However, you need to trade carefully as you can move up after touching the 48214.0-50752.0 section or the uptrend line (5).
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(BTC Dominance (BTC.D) 1D Chart) It remains to be seen if the volatility around April 13th (April 12-14) leads to a movement that deviates from 54.97-56.78.
I think the bull market for altcoins is when BTC dominance is below 63.38 points. Accordingly, it is always a good idea to check if you are climbing above the 63.38 point.
If you predict the movement of BTC price and proceed with predictive trading for altcoins, there is a possibility of double loss. Therefore, I think it is better to trade while checking the movement of the dominance chart (BTC, USDT) rather than the movement of the BTC price.
** 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. Therefore, 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 to 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 and 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: Closing price when closed G2: Cigar at the time of opening (Example) Gap (G1-G2)
ملاحظة
(CME Bitcoin (BTC1!) 1D chart) It started with a drop in the gap (60545.0-60500.0). We have to see if we can get support at 59335.0 and rise above 63810.0. If it falls from the 57925.0 point, a short stop loss is required.
(BAKKT Bitcoin (BTM1!) 1D chart) It started with a drop in the gap (60480.0-60385.0). We have to see if we can get support at 59893.5 and climb above 62383.0. If it falls from the 55695.0 point, a short stop loss is required.
ملاحظة
(BTC Dominance (BTC.D) 1D Chart) Altcoin's price may move sideways or fall as funds are concentrated in BTC to gain support in the 61K-63K range. This move is expected to give an opportunity to buy altcoins.
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