Bitcoin (BTC) - August 5
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(XBTUSD 1M Chart)
The 1M chart is difficult to interpret in detail because the candles are too large.
To see a long-term trend, the simple expression of the candle is good.
The trend represented in the current chart is an uptrend.
Since the price is holding above the 27650.0-29350.0 band in the uptrend, it can be interpreted as a price correction period.
As trading volume is decreasing during this price adjustment period, it should be interpreted that the selling force driving the price adjustment is decreasing.
A move above the 42084.0 point should be seen for a move to turn the weakened sell into a new buy.
(XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.
I think we have formed an important support section over the 27650.0-33101.0 section.
The formed support zone is expected to create another big bullish wave going forward.
In order to do that, the price should continue above the 27650.0-33101.0 interval.
The section 40163.5-45211.0 belongs to the previous high section.
Accordingly, it is forming a support and resistance zone.
Among the sections 40163.5-45211.0, the section 40165.5-42084.0 is the previous high point and is a psychologically large resistance section.
A decrease in trading volume in this resistance zone can be interpreted as increasing the likelihood that a new movement will begin after the price correction.
The 42084.0-45211.0 zone was previously an important support zone, but it is now part of the zone where resistance will be found.
The 40163.5-45211.0 section is a psychological resistance section, and I think that it is making the psychological state of investors extremely unstable.
(1D chart)
The price needs to remain above the 35028.0 point to continue this uptrend.
We will have to wait and see if we can break above the downtrend line that formed the A section with the volatility around August 5th (August 4-6).
This is because it is difficult to know when the movement to break through the upward movement will occur because the section where we are currently located is a section of psychological resistance.
This difficulty is manifested in a decline in trading volume.
Currently, the coin market is preparing to launch and sell new products.
In order to launch and start selling these investment products, I think that the coin market is currently in a price adjustment phase.
The fear of the coin market has led to an increase in selling and I think there has been a movement to absorb it so far.
The green color of the OBV on the volume indicator shows an increasing trend and the center line is moving upwards.
If investment products that are newly introduced in the coin market start to operate normally, new funds will flow into the coin market to increase the value of the company with the launched products.
----------------------------------
(BTCUSDT 1W Chart)
If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.
In particular, if the price is maintained above the 40100.0 point, it is expected to continue the uptrend in earnest.
If the price holds above the 37253.81 point, it should be interpreted as maintaining an uptrend.
-------------------------------------
(BTCUSDTPERP 1D Chart)
The price needs to remain above the 35746.28 point to continue this uptrend.
If the 37243.38-38200.01 section is touched and the sharp rise leads to the 39966.23-40189.39 section, I expect the 42125.51 point and an attempt to break out of the downtrend line will continue.
We will have to wait and see if there is any movement out of the 37243.38-40189.39 section due to the volatility around August 4th (August 3-5).
The reason to watch is that while the green of the OBV on the volume indicator is increasing, the centerline is not in an uptrend.
This is because the trading volume is not increasing and it is not easy to lead to an uptrend.
Trading volume cannot always increase.
However, this is because it is determined that the trading volume is necessary to break above the current position, that is, the previous high of 40189.39-42125.51.
If the selling trend is not strong, the current buying trend may break the previous high, but it is expected that the current buying trend will be difficult to keep the price after the upward break.
------------------------------------
(BTCKRW 1W chart)
If the price is maintained above the 31662000-35545000 range, it is expected that the uptrend will continue.
In particular, if the price is maintained above the 48550000 point, it is expected to continue a full-fledged uptrend.
If the price holds above the 43998000 point, it should be interpreted as maintaining an uptrend.
Currently, the price is showing a correction as it is finding resistance at the 46274000-48550000 range.
----------------------------------------
(BTC Dominance (BTC.D) 1D Chart)
A decline in BTC dominance is likely to lead to a rise in the price of altcoins.
Conversely, a rise in BTC dominance is likely to lead to a fall in the price of altcoins.
If it falls below the downtrend line (1), it is highly likely that a whipso will occur in the BTC price movement, so you need to be careful when trading BTC.
------------------------------------------------------------
(USDT Dominance (USDT.D) 1D Chart)
Volatility around Aug 6 (5-7 Aug) should find resistance at the 4.158 point and see if it can move below the 3.374 point.
If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.
USDT Dominance falling below the downtrend line (2), indicating that the coin market is moving towards an uptrend.
----------------------------
(USDT 1D Chart)
We need to see support and see if we can move higher at 61.765B.
If you look at the USDC 1D chart (tradingview.com/x/L01jZdMD/), you should watch for an uptrend along the uptrend line.
In particular, if it goes down, we should see support from the 26.129B-26.581B zone and see if it can move higher.
I think the rising gap between USDT and USDC shows that money is flowing into the coin market.
Conversely, a fall in the gap indicates that money is flowing out of the coin market.
----------------------------------
(ETH Dominance (ETH.D) 1D Chart)
We need to see if we can move above the 20.52 point along the uptrend line.
A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.
It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.
------------------------------------------
We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which 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, ultimately allowing the funds corresponding to the profits to regenerate themselves.
------------------------------------------------------------ -----------------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, 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 disclosed by oh92. (Thanks for this.)
** See 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 a profit or loss in investment.
Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. 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 are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a nice day.
-------------------------------------
(XBTUSD 1M Chart)
The 1M chart is difficult to interpret in detail because the candles are too large.
To see a long-term trend, the simple expression of the candle is good.
The trend represented in the current chart is an uptrend.
Since the price is holding above the 27650.0-29350.0 band in the uptrend, it can be interpreted as a price correction period.
As trading volume is decreasing during this price adjustment period, it should be interpreted that the selling force driving the price adjustment is decreasing.
A move above the 42084.0 point should be seen for a move to turn the weakened sell into a new buy.
(XBTUSD 1W Chart)
If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.
I think we have formed an important support section over the 27650.0-33101.0 section.
The formed support zone is expected to create another big bullish wave going forward.
In order to do that, the price should continue above the 27650.0-33101.0 interval.
The section 40163.5-45211.0 belongs to the previous high section.
Accordingly, it is forming a support and resistance zone.
Among the sections 40163.5-45211.0, the section 40165.5-42084.0 is the previous high point and is a psychologically large resistance section.
A decrease in trading volume in this resistance zone can be interpreted as increasing the likelihood that a new movement will begin after the price correction.
The 42084.0-45211.0 zone was previously an important support zone, but it is now part of the zone where resistance will be found.
The 40163.5-45211.0 section is a psychological resistance section, and I think that it is making the psychological state of investors extremely unstable.
(1D chart)
The price needs to remain above the 35028.0 point to continue this uptrend.
We will have to wait and see if we can break above the downtrend line that formed the A section with the volatility around August 5th (August 4-6).
This is because it is difficult to know when the movement to break through the upward movement will occur because the section where we are currently located is a section of psychological resistance.
This difficulty is manifested in a decline in trading volume.
Currently, the coin market is preparing to launch and sell new products.
In order to launch and start selling these investment products, I think that the coin market is currently in a price adjustment phase.
The fear of the coin market has led to an increase in selling and I think there has been a movement to absorb it so far.
The green color of the OBV on the volume indicator shows an increasing trend and the center line is moving upwards.
If investment products that are newly introduced in the coin market start to operate normally, new funds will flow into the coin market to increase the value of the company with the launched products.
----------------------------------
(BTCUSDT 1W Chart)
If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.
In particular, if the price is maintained above the 40100.0 point, it is expected to continue the uptrend in earnest.
If the price holds above the 37253.81 point, it should be interpreted as maintaining an uptrend.
-------------------------------------
(BTCUSDTPERP 1D Chart)
The price needs to remain above the 35746.28 point to continue this uptrend.
If the 37243.38-38200.01 section is touched and the sharp rise leads to the 39966.23-40189.39 section, I expect the 42125.51 point and an attempt to break out of the downtrend line will continue.
We will have to wait and see if there is any movement out of the 37243.38-40189.39 section due to the volatility around August 4th (August 3-5).
The reason to watch is that while the green of the OBV on the volume indicator is increasing, the centerline is not in an uptrend.
This is because the trading volume is not increasing and it is not easy to lead to an uptrend.
Trading volume cannot always increase.
However, this is because it is determined that the trading volume is necessary to break above the current position, that is, the previous high of 40189.39-42125.51.
If the selling trend is not strong, the current buying trend may break the previous high, but it is expected that the current buying trend will be difficult to keep the price after the upward break.
------------------------------------
(BTCKRW 1W chart)
If the price is maintained above the 31662000-35545000 range, it is expected that the uptrend will continue.
In particular, if the price is maintained above the 48550000 point, it is expected to continue a full-fledged uptrend.
If the price holds above the 43998000 point, it should be interpreted as maintaining an uptrend.
Currently, the price is showing a correction as it is finding resistance at the 46274000-48550000 range.
----------------------------------------
(BTC Dominance (BTC.D) 1D Chart)
A decline in BTC dominance is likely to lead to a rise in the price of altcoins.
Conversely, a rise in BTC dominance is likely to lead to a fall in the price of altcoins.
If it falls below the downtrend line (1), it is highly likely that a whipso will occur in the BTC price movement, so you need to be careful when trading BTC.
------------------------------------------------------------
(USDT Dominance (USDT.D) 1D Chart)
Volatility around Aug 6 (5-7 Aug) should find resistance at the 4.158 point and see if it can move below the 3.374 point.
If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.
USDT Dominance falling below the downtrend line (2), indicating that the coin market is moving towards an uptrend.
----------------------------
(USDT 1D Chart)
We need to see support and see if we can move higher at 61.765B.
If you look at the USDC 1D chart (tradingview.com/x/L01jZdMD/), you should watch for an uptrend along the uptrend line.
In particular, if it goes down, we should see support from the 26.129B-26.581B zone and see if it can move higher.
I think the rising gap between USDT and USDC shows that money is flowing into the coin market.
Conversely, a fall in the gap indicates that money is flowing out of the coin market.
----------------------------------
(ETH Dominance (ETH.D) 1D Chart)
We need to see if we can move above the 20.52 point along the uptrend line.
A rise in ETH dominance could lead to a rise in ETH price.
Also, I think it has some effect on the BTC price.
It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.
------------------------------------------
We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which 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, ultimately allowing the funds corresponding to the profits to regenerate themselves.
------------------------------------------------------------ -----------------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, 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 disclosed by oh92. (Thanks for this.)
** See 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 a profit or loss in investment.
Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. 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 are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
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