Bitcoin (BTC) - January 2
Updated
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You need to make sure you are supported on the 29113.71-29737.14 section.
It remains to be seen if there is any movement outside the 28422.0-29737.14 range due to volatility around January 3rd.
The 28422.0 point can be temporarily touched and climbed, so careful trading is required.
The 28422.0-29113.71 section is a short-term Stop Loss section. If a short-term response is possible, you can proceed with a Stop Loss at 29113.71, otherwise, at 28422.0.
When the RS line of the wRSI_SR indicator fell after hitting 100 in the overbought section, the BTC price displayed a movement.
If the flow continues this time as the previous flow, the flow rising above the 30984.0 point must first come out.
Then, you have to get support from 29113.71-29737.14.
As I said yesterday in the XBTUSD chart explanation, this rise is on the weaker side than the previous one.
Therefore, I think the flow of around January 3rd (January 2nd-4th) is important.
Due to the volatility around January 3rd, the situation is expected to change depending on where it deviates from 29113.71-29797.14.
If it rises above 29737.14, it is expected to gain support from 29113.71-29737.14 after rising above 30984.0 as the previous trend.
If it falls below the 29113.71 point, it is expected to fall to the 27243.43-28422.0 range.
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(OKEX BTCUSDT 1D chart)
You need to make sure you are supported in the 28741.0-29346.0 section.
You can temporarily touch and climb the 28165.8 point, so careful trading is necessary.
The 28165.8-28741.0 section is a short-term Stop Loss section. If a short-term response is possible, a Stop Loss can be performed at the point 28741.0, otherwise, at the point 28165.8.
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(Coinbase BTCUSD 1D chart)
You need to make sure you get support on the 29059.46-29680.03 section.
You can temporarily touch and climb the 28387.0 point, so careful trading is required.
The 28387.0-29059.46 section is a short-term stop loss section. If a short-term response is possible, a stop loss can be performed at the point 29059.46, otherwise, at the point 28387.0.
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(BTC Dominance 1D Chart)
It remains to be seen if it can move below the 69.80 point.
After the plunge in XRP, the flow of BTC dominance appears to have broken.
Therefore, it seems that you should not try to grasp the meaning, just check whether it rises or falls.
With the continued decline in USDT dominance, it seems that the money in the coin market is being used to buy coins.
Therefore, it is necessary to check the price flow of altcoins in the sideways BTC price and the upcoming short-term downtrend.
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(USDT Dominance 1D Chart)
It is falling below the 2.754 point.
We have to see if we can move down along the downtrend line (6).
You should check for movement between January 5th and 10th.
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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)
** 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: 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.
-------------------------------------------------- -----
You need to make sure you are supported on the 29113.71-29737.14 section.
It remains to be seen if there is any movement outside the 28422.0-29737.14 range due to volatility around January 3rd.
The 28422.0 point can be temporarily touched and climbed, so careful trading is required.
The 28422.0-29113.71 section is a short-term Stop Loss section. If a short-term response is possible, you can proceed with a Stop Loss at 29113.71, otherwise, at 28422.0.
When the RS line of the wRSI_SR indicator fell after hitting 100 in the overbought section, the BTC price displayed a movement.
If the flow continues this time as the previous flow, the flow rising above the 30984.0 point must first come out.
Then, you have to get support from 29113.71-29737.14.
As I said yesterday in the XBTUSD chart explanation, this rise is on the weaker side than the previous one.
Therefore, I think the flow of around January 3rd (January 2nd-4th) is important.
Due to the volatility around January 3rd, the situation is expected to change depending on where it deviates from 29113.71-29797.14.
If it rises above 29737.14, it is expected to gain support from 29113.71-29737.14 after rising above 30984.0 as the previous trend.
If it falls below the 29113.71 point, it is expected to fall to the 27243.43-28422.0 range.
--------------------------------------------------
(OKEX BTCUSDT 1D chart)
You need to make sure you are supported in the 28741.0-29346.0 section.
You can temporarily touch and climb the 28165.8 point, so careful trading is necessary.
The 28165.8-28741.0 section is a short-term Stop Loss section. If a short-term response is possible, a Stop Loss can be performed at the point 28741.0, otherwise, at the point 28165.8.
-------------------------------------------------- -----
(Coinbase BTCUSD 1D chart)
You need to make sure you get support on the 29059.46-29680.03 section.
You can temporarily touch and climb the 28387.0 point, so careful trading is required.
The 28387.0-29059.46 section is a short-term stop loss section. If a short-term response is possible, a stop loss can be performed at the point 29059.46, otherwise, at the point 28387.0.
-------------------------------------------------- ----
(BTC Dominance 1D Chart)
It remains to be seen if it can move below the 69.80 point.
After the plunge in XRP, the flow of BTC dominance appears to have broken.
Therefore, it seems that you should not try to grasp the meaning, just check whether it rises or falls.
With the continued decline in USDT dominance, it seems that the money in the coin market is being used to buy coins.
Therefore, it is necessary to check the price flow of altcoins in the sideways BTC price and the upcoming short-term downtrend.
-------------------------------------------------- -
(USDT Dominance 1D Chart)
It is falling below the 2.754 point.
We have to see if we can move down along the downtrend line (6).
You should check for movement between January 5th and 10th.
-------------------------------------------------- -------------------------------------------
** 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)
** 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: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Note
(Binance BTCUSDT 1D chart)We have to touch the 30984.0 point and see if we see a short-term downtrend.
If there is a short-term downtrend, it is likely to move sideways between 29737.14-30984.0.
The next volatility period is around January 12th.
(XBTUSD 1D chart)
We have to see if we can get support above 30887.5.
If there is a short-term downtrend, it remains to be seen if it can move sideways above the 30224.0 point.
In the wRSI-SR index, the SR line has risen more than 80.
Accordingly, I think there is an uptrend that breaks the previous uptrend.
This trend may lead to around January 15th.
However, a short-term downtrend may occur due to volatility around January 7th, so careful trading is necessary.
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