The coin market appears to be in a period of profit taking
Updated
hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(BTCUSDT chart)
The key is whether you can get support around 29281.09.
If it falls below 29281.09,
1st : 28465.36-28923.63
2nd : 27162.14
You need to make sure that it is supported in the vicinity of the 1st and 2nd above.
If the price continues to fall, the HA-Low indicator on the 1D chart will rise and be created.
If so, whether or not you are supported at that point is an important factor.
The next period of volatility is around August 19th.
-------------------------------------------------- ------------
It is necessary to check whether USDT continues to gap down.
USDT is a fund that can exert a great influence on the coin market.
Therefore, it can be seen that USDT's gap decline corresponds to the time of profit realization.
There is nothing special about the profit realization period, but there may be more altcoins showing a bigger uptrend than expected.
At this time, if you make a loss, you may not have enough funds to buy at the time of buying after the time of profit, so you must observe the stop loss point when trading.
If you are not confident in meeting your stop loss point, we recommend that you do not trade at all.
------------------------------------------------
Free users of TradingView can display up to 2 indicators.
Accordingly, the trading volume indicator was replaced with the color of the candle body, and two auxiliary indicators, Strength and CCI, were displayed.
The trading volume display method is written at the end of the article.
-------------------------------------------
It is a signal created by setting the CCI indicator on the exchange chart and displaying an arrow when the CCI crosses the CCI EMA.
In order to properly check this indicator, the setting value of the CCI indicator must be set to 150, EMA, 150.
Unfortunately, you cannot use 150 as the setting value of EMA as the default indicator of TradingView, so you must create and use it separately.
If you refer to the CCI indicator along with the StochRSI indicator, you will be able to see whether it is supported or resisted at more support and resistance points.
------------------------------------------
(BTCKRW chart)
The next volatility period is around August 25-30.
--------------------------------------------------
- big picture
A full-fledged uptrend is expected to start when it rises above 29K.
81K-95K is the range we expect to touch in the next bull market.
-------------------------------------------------- -------------------------------------------
** All descriptions are for reference only and do not guarantee profit or loss in investment.
** The trading volume indicator is displayed as a candle body based on 10EMA.
Display method (in order of boldest)
More than 3x 10EMA trading volume > 2.5x > 2.0x > 1.25x > trading volume below 10EMA
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
---------------------------------
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(BTCUSDT chart)
The key is whether you can get support around 29281.09.
If it falls below 29281.09,
1st : 28465.36-28923.63
2nd : 27162.14
You need to make sure that it is supported in the vicinity of the 1st and 2nd above.
If the price continues to fall, the HA-Low indicator on the 1D chart will rise and be created.
If so, whether or not you are supported at that point is an important factor.
The next period of volatility is around August 19th.
-------------------------------------------------- ------------
It is necessary to check whether USDT continues to gap down.
USDT is a fund that can exert a great influence on the coin market.
Therefore, it can be seen that USDT's gap decline corresponds to the time of profit realization.
There is nothing special about the profit realization period, but there may be more altcoins showing a bigger uptrend than expected.
At this time, if you make a loss, you may not have enough funds to buy at the time of buying after the time of profit, so you must observe the stop loss point when trading.
If you are not confident in meeting your stop loss point, we recommend that you do not trade at all.
------------------------------------------------
Free users of TradingView can display up to 2 indicators.
Accordingly, the trading volume indicator was replaced with the color of the candle body, and two auxiliary indicators, Strength and CCI, were displayed.
The trading volume display method is written at the end of the article.
-------------------------------------------
It is a signal created by setting the CCI indicator on the exchange chart and displaying an arrow when the CCI crosses the CCI EMA.
In order to properly check this indicator, the setting value of the CCI indicator must be set to 150, EMA, 150.
Unfortunately, you cannot use 150 as the setting value of EMA as the default indicator of TradingView, so you must create and use it separately.
If you refer to the CCI indicator along with the StochRSI indicator, you will be able to see whether it is supported or resisted at more support and resistance points.
------------------------------------------
(BTCKRW chart)
The next volatility period is around August 25-30.
--------------------------------------------------
- big picture
A full-fledged uptrend is expected to start when it rises above 29K.
81K-95K is the range we expect to touch in the next bull market.
-------------------------------------------------- -------------------------------------------
** All descriptions are for reference only and do not guarantee profit or loss in investment.
** The trading volume indicator is displayed as a candle body based on 10EMA.
Display method (in order of boldest)
More than 3x 10EMA trading volume > 2.5x > 2.0x > 1.25x > trading volume below 10EMA
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
---------------------------------
Note
(USDT 1D chart)A gap rise is likely to occur.
(USDC 1D chart)
The gap continues to rise on day 4.
(BTC.D 1D chart)
BTC dominance is shown to be down by a -1.51% gap.
(USDT.D 1D chart)
USDT dominance is shown to be down by a -1.43% gap.
Taken together,
1. Funds appear to have flowed in through USDT and USDC.
2. BTC dominance and USDT dominance are gapped at the same time, so the flow of funds in the coin market is concentrated towards altcoins, and the coin market is expected to show an upward trend.
However, market cap charts are often properly reflected after 1-2 days, so we need to keep an eye on the situation.
This rise is highly likely to rise to realize profits, so you need to be careful when trading.
If the uptrend is to continue, I think the USDT dominance needs to drop below 6.85 and stay there.
Therefore, until then, it is necessary to respond quickly with day trading or short-term trading, and I think it is good to keep the stop loss point.
Other content (coins, stocks, etc.) is frequently posted on X.
X에 다른 내용(코인, 주식 등)이 자주 게시됩니다.
X에 다른 내용(코인, 주식 등)이 자주 게시됩니다.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.