Bitcoin (BTC) - June 4
Updated
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(1W chart)
Primary resistance: around 32259.90
Secondary resistance: 35045.0-38150.02
1st support: 28923.63-29812.52
2nd support: around 27033.35
You need to see if the stock can break out of the oversold zone of the RSI.
As of this week, I think it's very likely that new changes will begin.
Therefore, it is important to be supported over the 28923.63-29812.52 section.
(1D chart)
A volume profile section is formed around 28923.63.
Therefore, it is important to be supported above 28923.63.
If it gains support above 30444.93, it is expected to turn into an uptrend in the short and medium term.
So, whether it rises above 30444.93 is the key.
Taken together, it can be seen that the section 28923.63-30444.93 is an important support section.
Based on the 4-6 June volatility, we believe a new trend is likely to form.
An attempt was made to break through 32259.90 a few days ago, but it was unsuccessful.
Support above 28923.63 after a failed breakout attempt is a positive move that another breakout attempt can be made.
Therefore, you should check for any movement outside the 28923.63-30444.93 zone during this period of volatility.
If it falls below 28923.63, a Stop Loss is necessary as it is likely to lead to further declines.
We recommend that you think about whether you can proceed with Stop Loss among your assets.
Stop Loss does not mean 100% sell.
Selling 100% in the coin market is because it means that the sold coin (token) will not trade itself until the next wave occurs.
Selling 100% is likely to lose the opportunity when it turns into an uptrend because the coin market flow is located in the boundary between the uptrend and the downtrend.
Therefore, it is necessary to determine the appropriate amount of Stop Loss.
Temporarily falling near 27033.35, you should see a quick rise above 28923.63.
Failure to quickly move above 28923.63 is expected to lead to further declines.
A move above 30444.93 and supported should lead to an attempt to move above 32259.90.
When this attempt fails, it must be supported at 28923.63 or higher.
If possible, it should be supported near 30444.93.
Therefore, if there is an attempt to break through 32259.90 in the future,
1st support: around 30444.93
2nd support: 28923.63-29812.52.
The point where we can see the trend reversing is definitely at 32259.90.
However, it is expected that the upward trend will continue only after the 35045.0-39942.38 section, which is a wide support and resistance section, is crossed.
------------------------------------------------------------ -----------------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator will move accordingly as price and volume move.
However, for convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** 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.
(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.)
---------------------------------
Traders, welcome.
By "following", you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------
(1W chart)
Primary resistance: around 32259.90
Secondary resistance: 35045.0-38150.02
1st support: 28923.63-29812.52
2nd support: around 27033.35
You need to see if the stock can break out of the oversold zone of the RSI.
As of this week, I think it's very likely that new changes will begin.
Therefore, it is important to be supported over the 28923.63-29812.52 section.
(1D chart)
A volume profile section is formed around 28923.63.
Therefore, it is important to be supported above 28923.63.
If it gains support above 30444.93, it is expected to turn into an uptrend in the short and medium term.
So, whether it rises above 30444.93 is the key.
Taken together, it can be seen that the section 28923.63-30444.93 is an important support section.
Based on the 4-6 June volatility, we believe a new trend is likely to form.
An attempt was made to break through 32259.90 a few days ago, but it was unsuccessful.
Support above 28923.63 after a failed breakout attempt is a positive move that another breakout attempt can be made.
Therefore, you should check for any movement outside the 28923.63-30444.93 zone during this period of volatility.
If it falls below 28923.63, a Stop Loss is necessary as it is likely to lead to further declines.
We recommend that you think about whether you can proceed with Stop Loss among your assets.
Stop Loss does not mean 100% sell.
Selling 100% in the coin market is because it means that the sold coin (token) will not trade itself until the next wave occurs.
Selling 100% is likely to lose the opportunity when it turns into an uptrend because the coin market flow is located in the boundary between the uptrend and the downtrend.
Therefore, it is necessary to determine the appropriate amount of Stop Loss.
Temporarily falling near 27033.35, you should see a quick rise above 28923.63.
Failure to quickly move above 28923.63 is expected to lead to further declines.
A move above 30444.93 and supported should lead to an attempt to move above 32259.90.
When this attempt fails, it must be supported at 28923.63 or higher.
If possible, it should be supported near 30444.93.
Therefore, if there is an attempt to break through 32259.90 in the future,
1st support: around 30444.93
2nd support: 28923.63-29812.52.
The point where we can see the trend reversing is definitely at 32259.90.
However, it is expected that the upward trend will continue only after the 35045.0-39942.38 section, which is a wide support and resistance section, is crossed.
------------------------------------------------------------ -----------------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator will move accordingly as price and volume move.
However, for convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** 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.
(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.)
---------------------------------
Note
(BTCUSDTPERP 1h Chart)(UTC)
It failed to find support at 30437 and fell to the 28951.7-29840.6 section.
However, it is necessary to check whether there is any movement outside the 28951.7-30437.0 section based on the time indicated on the chart.
If it falls below 28951.7, there is a possibility that it may fall to around 27054.1, so you need to trade cautiously.
If it rises above 30437.0, it should be supported.
If support breaks, it is expected to lead to further declines, so trade cautiously.
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