Altcoins only proceed to the 1st purchase when BTC is below 29K
Updated
Hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
In order to trade altcoins, it is recommended to proceed when BTC has completely turned into an uptrend.
The reason is that it is highly likely that BTC dominance will continue to rise in the future.
This is because if BTC dominance maintains an upward trend, it means that money in the coin market will be concentrated in BTC, so most altcoins are likely to move sideways or maintain a downward trend.
Therefore, if possible, I think we should focus on BTC or ETH for now, focusing on finding the right time to buy from a mid- to long-term perspective.
-------------------------------------------------- ----
(ETHUSDT chart)
If you look at the 1M chart, it shows that the price cannot be maintained above the MS-Signal indicator and is falling.
Therefore, you should check for support around 1572.69.
If it continues to decline, it is likely to touch near the previous latest low, so we need to think about how to respond.
Therefore, it is necessary to make sure that the price rises along the uptrend line shown below.
In any case, it is expected that the 1M chart will lead to a trend reversal only when there is a movement out of the newly created downtrend line.
(1W chart)
Looking at the 1W chart, it is declining at 1790.20.
Since the 1790.20 point is the point of the HA-High indicator on the 1W chart, if it is resisted at this point and falls, it is highly likely to fall to the vicinity of the HA-Low indicator on the 1W chart.
thus,
1st: 1611.62
2nd: 1338.65
You need to make sure that it is supported in the vicinity of the 1st and 2nd above.
Since it shows the same movement as what I mentioned in the BTC chart analysis, I would appreciate it if you could refer to the BTC analysis for information about the wave.
(1D chart)
A downtrend is underway as the price fails to hold above 1790.20 and breaks out of the uptrend channel.
However, the 1572.69-1879.61 section is an important support and resistance section.
Therefore, it is necessary to confirm that it can receive support around 1572.69-1611.62 and rise above 1790.20.
This period of volatility is expected to last until around June 22 (June 23).
So, you need to see what movement you see during this period of volatility.
Whether you view ETH as an altcoin or between BTC and altcoins depends on the investment style of those who want to trade ETH.
I think of ETH as halfway between BTC and altcoins.
I think it is one of the coins that have a great influence on the coin market.
Therefore, from a long-term perspective, we expect that investing in ETH will yield similar benefits to investing in BTC.
Therefore, as I said in the BTC analysis, the current decline is in the process of the 2nd wave of the uptrend, so it is better to think of ETH as BTC.
If possible, it is better to invest in either BTC or ETH, but since you do not know which coin will rise more significantly in the future, you can split it and buy it together.
No matter what decision you make, you need to hold enough coins (tokens) to keep up with large price volatility.
If you hold many types of coins (tokens) and cannot respond to all coins (tokens) that would have caused great volatility, the buying strategy should be considered a failure.
------------------------------------------
(BTCKRW chart)
It is declining after finding resistance around 34820000.
Therefore, it is necessary to confirm that it is supported around 31024000-32042000.
However, since it may rise above 34820000 during the volatility period until around June 16th, you should also think about countermeasures against this.
In order to turn into an uptrend, it needs to be supported by a rise above at least 35539000.
The Trend-Based Fib Extension on the left was created during a downtrend.
We touched the 0.618 (32851000) point.
Therefore, considering the 32851000 point, it needs to rise above 37821000 to turn into an uptrend.
If it continues to decline, it can be seen that the possibility of falling to around 27317000-29639000 is increasing.
Therefore, it is important to find support or resistance around 0.618 (32851000) and 31024000-32042000.
------------------------------
- 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.
** 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.
-------------------------------------
In order to trade altcoins, it is recommended to proceed when BTC has completely turned into an uptrend.
The reason is that it is highly likely that BTC dominance will continue to rise in the future.
This is because if BTC dominance maintains an upward trend, it means that money in the coin market will be concentrated in BTC, so most altcoins are likely to move sideways or maintain a downward trend.
Therefore, if possible, I think we should focus on BTC or ETH for now, focusing on finding the right time to buy from a mid- to long-term perspective.
-------------------------------------------------- ----
(ETHUSDT chart)
If you look at the 1M chart, it shows that the price cannot be maintained above the MS-Signal indicator and is falling.
Therefore, you should check for support around 1572.69.
If it continues to decline, it is likely to touch near the previous latest low, so we need to think about how to respond.
Therefore, it is necessary to make sure that the price rises along the uptrend line shown below.
In any case, it is expected that the 1M chart will lead to a trend reversal only when there is a movement out of the newly created downtrend line.
(1W chart)
Looking at the 1W chart, it is declining at 1790.20.
Since the 1790.20 point is the point of the HA-High indicator on the 1W chart, if it is resisted at this point and falls, it is highly likely to fall to the vicinity of the HA-Low indicator on the 1W chart.
thus,
1st: 1611.62
2nd: 1338.65
You need to make sure that it is supported in the vicinity of the 1st and 2nd above.
Since it shows the same movement as what I mentioned in the BTC chart analysis, I would appreciate it if you could refer to the BTC analysis for information about the wave.
(1D chart)
A downtrend is underway as the price fails to hold above 1790.20 and breaks out of the uptrend channel.
However, the 1572.69-1879.61 section is an important support and resistance section.
Therefore, it is necessary to confirm that it can receive support around 1572.69-1611.62 and rise above 1790.20.
This period of volatility is expected to last until around June 22 (June 23).
So, you need to see what movement you see during this period of volatility.
Whether you view ETH as an altcoin or between BTC and altcoins depends on the investment style of those who want to trade ETH.
I think of ETH as halfway between BTC and altcoins.
I think it is one of the coins that have a great influence on the coin market.
Therefore, from a long-term perspective, we expect that investing in ETH will yield similar benefits to investing in BTC.
Therefore, as I said in the BTC analysis, the current decline is in the process of the 2nd wave of the uptrend, so it is better to think of ETH as BTC.
If possible, it is better to invest in either BTC or ETH, but since you do not know which coin will rise more significantly in the future, you can split it and buy it together.
No matter what decision you make, you need to hold enough coins (tokens) to keep up with large price volatility.
If you hold many types of coins (tokens) and cannot respond to all coins (tokens) that would have caused great volatility, the buying strategy should be considered a failure.
------------------------------------------
(BTCKRW chart)
It is declining after finding resistance around 34820000.
Therefore, it is necessary to confirm that it is supported around 31024000-32042000.
However, since it may rise above 34820000 during the volatility period until around June 16th, you should also think about countermeasures against this.
In order to turn into an uptrend, it needs to be supported by a rise above at least 35539000.
The Trend-Based Fib Extension on the left was created during a downtrend.
We touched the 0.618 (32851000) point.
Therefore, considering the 32851000 point, it needs to rise above 37821000 to turn into an uptrend.
If it continues to decline, it can be seen that the possibility of falling to around 27317000-29639000 is increasing.
Therefore, it is important to find support or resistance around 0.618 (32851000) and 31024000-32042000.
------------------------------
- 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.
** 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.
---------------------------------
Comment
(ETHUSDT chart)This is the OBV indicator I talked about yesterday.
What this indicator tells us is the strength of the buying and selling forces.
Therefore, based on the OBV index point
- If it rises, the buying force > the selling force
- If it goes down, the buying force < the selling force
The above can be interpreted as follows.
Therefore, you can create a trading strategy based on whether you find support or resistance at the OBV indicator points.
For more detailed information, I will explain it with an example that fits it according to the movement in the future.
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.