Bitcoin (BTC) - August 5
Updated
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(BTCUSDTPERP 1D Chart)
The 22751.0 area is an important section that needs support to continue the uptrend.
If a decline from 22751.0 finds resistance, it is expected to lead to further declines.
If it finds support and moves higher near 22751.0, I would expect it to move higher around 25459.8.
The big trend is maintaining an upward trend.
However, if it falls below 22751.0, it will fall below the MS-Signal indicator.
If the MS-Signal indicator turns into a downtrend indicator, it should be considered that the big trend has also turned into a downtrend.
(For reference, sections A and B passed the MS-Signal indicator, but the color of the MS-Signal indicator did not change.)
( 1h chart)
** On the 1h chart, a sharp move is likely to occur, so a short-term response is recommended.
The key is whether it can move above 22751.0.
If not, there is a possibility that it will move towards the 21826.1 area.
However, there is a possibility of a short rebound near 22222.2.
If it fails to move above 22570.6 and finds resistance, the MS-Signal indicator on the 1D chart will eventually turn into a bearish indicator.
However, it is thought that the maximum decline section is 21481.1-21826.1 section, so you need to be careful about position selection.
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(USDT + USDC 1D Chart)
On July 24th, the first rise in the gap occurred after the fall in the gap.
The rise in the gap is seen as a sign of money flowing into the coin market.
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** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points.
** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
(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.)
---------------------------------
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------
(BTCUSDTPERP 1D Chart)
The 22751.0 area is an important section that needs support to continue the uptrend.
If a decline from 22751.0 finds resistance, it is expected to lead to further declines.
If it finds support and moves higher near 22751.0, I would expect it to move higher around 25459.8.
The big trend is maintaining an upward trend.
However, if it falls below 22751.0, it will fall below the MS-Signal indicator.
If the MS-Signal indicator turns into a downtrend indicator, it should be considered that the big trend has also turned into a downtrend.
(For reference, sections A and B passed the MS-Signal indicator, but the color of the MS-Signal indicator did not change.)
( 1h chart)
** On the 1h chart, a sharp move is likely to occur, so a short-term response is recommended.
The key is whether it can move above 22751.0.
If not, there is a possibility that it will move towards the 21826.1 area.
However, there is a possibility of a short rebound near 22222.2.
If it fails to move above 22570.6 and finds resistance, the MS-Signal indicator on the 1D chart will eventually turn into a bearish indicator.
However, it is thought that the maximum decline section is 21481.1-21826.1 section, so you need to be careful about position selection.
-----------------------------------------------
(USDT + USDC 1D Chart)
On July 24th, the first rise in the gap occurred after the fall in the gap.
The rise in the gap is seen as a sign of money flowing into the coin market.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points.
** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
(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.)
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Note
** Issues to consider at support and resistance points **(WEMIXKRW 1D Chart)
for example,
Let's say 3760 is a very important support and resistance point.
(It's actually an important point of support and resistance.)
I think a point like the present is a point where people can arouse their greed.
This is because if it rises above 3760 and finds support, it makes me feel like it could move up to around 5390.
So, every time the price moves up or down, you are debating whether to buy or not.
The point that triggers this thought is the point of important support and resistance.
It is important to move above 3760 to see support above 3760.
The current point is below the 3760 point, so it appears to be receiving resistance.
Buying when you are currently facing resistance in the hopes of making a bigger profit increases your chances of taking a bigger loss.
If resistance is found at 3760 and declines, there is a possibility that it will move towards the 3485 area.
Therefore, if you buy at the current point, the Stop Loss point is 3485 points.
However, these Stop Loss points are forgotten because of the desire to earn more.
As long as you keep your mind, your mental state stable, and don't add subjective thoughts to your charts, your earnings will automatically follow.
It's good to think about getting support and resistance based on a 1D chart.
Also, usually support and resistance can be maintained for a long period of time, with a minimum of 1-3 days.
A long consolidation near support and resistance points means more movement is possible when volatility occurs.
This volatility may rise or fall.
Therefore, you need to look at the overall chart movement to see if it will lead to an uptrend or a downtrend.
If the chart shows a consolidation around 3760 on the current chart, it is more likely to go up.
However, it is possible to create a pull back pattern and rise by shaking up and down before further rises occur, so you should also think about countermeasures.
If a pull back pattern emerges at the 3760 point, it is expected to decline to around 3485 and then rise.
Note
(USDT + USDC 1D Chart)The decline in the gap in USDC is greater than the rise in the gap in USDT.
(1W chart)
For the coin market to continue its uptrend, USDT needs to rise above 68.468B and USDC stays above 52.246B.
Note
(BTCUSDT 1D Chart)Whether or not it is supported above 23266.90 is an important factor.
If the price holds above 22579.68, it is expected to maintain an uptrend.
Note
BTC decoupled when the Nasdaq index rose.
Therefore, if the Nasdaq index starts to decline, it is likely that the BTC price will rise conversely.
Therefore, it is important to be supported above the 22579.68-22753.10 section.
Note
There seems to be some misunderstanding in what I said above, so I will explain further.
When the Nasdaq Index decouples BTC and causes the Nasdaq Index to decline, it does not mean that the BTC price will continue to rise indefinitely.
The maximum climb is expected to be the 27K-29K section.
The reason is that the flow of funds between USDT and USDC shows a decline in the gap.
Therefore, it should be considered that BTC price is in the rebound section of the downtrend until it is supported by rising above 29K, i.e. 29840.6.
Therefore, I think it is necessary to increase the number of coins (tokens) held for short-term trading until it rises above 29840.6.
If it rises near the 27054.1-29840.6 zone or falls unsupported in that zone, the downtrend is likely to accelerate.
Therefore, if it is resisted and falls near 26574.53, Stop Loss is required to preserve profit and loss.
Stop Loss to preserve this profit and loss should proceed by securing cash that can be purchased additionally when the price falls.
Therefore, if you sell 100%, you may not be able to make a proper judgment due to psychological anxiety depending on the price volatility, so you should think about alternatives in advance.
If the downtrend accelerates, I expect to touch the 13137.51-15916.68 zone.
From a mid- to long-term perspective, it is recommended to increase the number of coins (tokens) you have.
Therefore, the above discussion is based on this point of view.
If you increase the number of coins (tokens) instead of cash income, the purchase price becomes 0 for this number of coins (tokens), so when you start buying later, you will be able to reduce the psychological burden of buying.
For this reason, I said that it is better to increase the number of coins (tokens) rather than cash income.
In order for a full-fledged uptrend to come out, I think it will be possible by maintaining the price above 29812.52 or by falling to the 13137.51-15916.68 section and moving sideways.
In any way, from a mid- to long-term point of view, a trading method that maximizes the number of coins (tokens) you have is absolutely necessary until a full-fledged uptrend occurs.
I wrote this in the hope that the above information will be helpful according to your trading strategy and trading style.
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