USDTNGN - To drop to 630/$ then rise to 800, 900 & 950/$#Nigerian Naira Rate (Update)
Day after day, the Nigerian currency is losing it’s value. Here is a weekly timeframe analysis. Based on technical analysis, Naira broke it’s major resistance at 630/$ to $710 and pullback is needed to gain momentum for the next run up.
Therefore I expect a fall to 630/dollar before a rise to new price target at 800, 850, 900, 950 per dollar.
Not a financial advice🙅🏼♂️
Share your opinion in the comment section✍️
Please support this idea with a LIKE👍 if you find it useful🥳
Happy Trading💰🥳🤗
Usdtdominance
Bitcoin (BTC) - November 1Hello?
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-------------------------------------
(USDT 1D Chart)
(USDC 1D Chart)
(BTC.D 1D Chart)
If BTC Dominance drops below the 39.56-40.44 range, there is a high probability of large volatility.
(NAS100USD 1D Chart)
The key is to maintain above 11366.9 and successfully break above the uptrend line and above 0.786 (11612.7).
-----------------------------------------
(BTCUSDT 1W Chart)
The key is whether it can be supported by rising to the 20798.16-21838.98 section.
If it doesn't, I would expect it to need support above 19518.59 to continue the uptrend.
If the MS-Signal indicator declines and falls below 21K, an attempt to break above the MS-Signal indicator may follow.
After this attempt, the key is whether it can be supported near 20798.16.
(1D chart)
The HA-High metric is expected to generate at the 20342.50 point.
So, we need to see if we can keep the price above 20342.50.
If not, it is important to be able to get support above 20050.02.
If the HA-High indicator is generated at the 20342.50 point, a breakout trade is possible when it breaks above the 20663.25-20798.16 section.
This breakout trade should be responded to in the short term.
The next volatility period is around November 7.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** HA SRRC indicators are expressed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry through split trading. It is a short-term investment perspective.)
---------------------------------
USDT DOMINANCE: THE ADRENELINE RUSH.Hello traders, I hope your days are going well. Here's a weekly update on USDT Dominance.
If you really want to know the next coming move then do read the content.
The USDT.D has again landed in such a scenario where you get the adrenaline rush to know what will happen next. Look at the chart, and you will understand what I am talking about. This is a precise straight-end scenario to decide whether we are actually entering the bull run or will continue with the bear market.
Now, this is not the first time for USDT.D to land in this situation. If we backtest then you'll notice that after a strong rejection on June 2022, the USDT dominance was taking a bearish turn but the 21 MA kept its hold pretty strong, and till today it does a pretty good job.
Coming back to the current scenario, the picture is pretty clear.
1. Either a bounce back possibly the last bounce towards 9.5% before the bull run begins, followed by rejection. This means more correction in BTC and other altcoins.
2. A breakdown and weekly close below the 21 MA confirming a strong rejection will possibly be a strong sign of a bull run. Meaning, BTC and other altcoins will rally.
Conclusion: I don't mind if the USDT dominance bounces back from the current support level. I will happily consider this as an accumulating opportunity. And if it breaks down, I will be satisfied to know that the possibility of good days is near. In both scenarios, we are in a win-win situation only if we don't get stuck in a bad trade.
That's all I have to say regarding the USDT dominance. I hope that this update will be helpful to you to make better decisions.
Thank you so much for all your support and love towards my tiny bit of contribution. It means a lot. God bless you all.
USDT Dominance on Track. More Blood Ahead??Hope you followed, The market is a little red today.
Expecting more blood in the next few Days.
Opportunistic times are ahead so there's nothing to panic tbh.
The horizontal support has been respected by the index.
My plan is to accumulate BTC and some altcoins on spot.
For leverage, I will wait for the reversal in LTF.
I will keep you posted.
Also, I will post some altcoins that I am thinking of accumulating in the first 2 weeks of November.
So follow me if you haven't yet.
Stay tuned
Do hit the link button if you like these short updates.
Thank you
#PEACE
Bitcoin (BTC) - October 31Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(USDT 1D Chart)
When the gap rises, it is judged that funds have flowed into the coin market.
(USDC 1D Chart)
When the gap falls, it is judged that funds have flowed out of the coin market.
The coin market is expected to maintain an uptrend due to the inflow of funds through USDT, but if the outflow of funds through USDC continues, this will limit the uptrend.
(USDT.D 1D chart)
Even in order to sustain the uptrend, USDT dominance must continue to downtrend.
---------------------------------------
(BTCUSDTPERP 1D Chart)
The price needs to remain above the HA-High indicator to continue the uptrend.
So, it just needs to be maintained at 20662.9 or higher.
However, as the resistance section is formed over the 20794.4-21826.1 section, it is expected that the upward trend will continue when it rises above this section.
Therefore, you need to check how it is supported in the 20794.4-21826.1 section.
Whipsaw is possible, so you need to be careful.
If this whipsaw touches around 20122.5 and causes an upward movement, it is expected that this will lead to an attempt to ascend near 21481.1.
If not, the key is to find support above 19520.2 to sustain the uptrend.
The next volatility period is around November 10th.
The 19520.2 point is the point where the HA-Low indicator of the 1W chart is newly created.
Therefore, if the price is maintained above 19520.2 in the medium to long term, it is expected to maintain an upward trend.
(1h chart)
The trend is expected to continue depending on whether support or resistance is found around the circled area.
If the move fails, the key is to find support above the uptrend line (1).
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(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.)
---------------------------------
USDT SHORTWhat I see from USDT now is that the upward trend is much, much slower than the previous upward trend .
And the possibility of correction to the lower support area is possible .
#USDT Dominance, Bounce Ahead. BE CAREFUL!!Welcome to this important update on Tether Dominance!
Reasons to Follow me?
*10 Years in Trading!
*8 years in Crypto (Full Time Trader)
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*Consistent updates on Markets and Trade Setups
*No Bias, Long Term Premium Updates for possible BTC Top and Bottom.
*All-time Top Author on various assets and index charts globally.
*Very Active Community during both bull and Bear Markets
Let's get to the chart!
Tether has been following our plans perfect for the last few months.
Keeping an eye on this chart keeps you one step ahead of others.
As you can observe in this chart, Dominance has reached a mid-term demand zone where we can expect a little bounce. This will result in some profit-taking by the leverage traders.
The time perfectly matches with FOMC Dates beginning this week.
It will be volatile, this bounce will give us some good opportunities to position ourselves in BTC and Alts.
MY PLAN:- The plan is to avoid the FOMO and enter in the red market, possibly Tuesday and Wednesday.
I will post more trade setups in the next few days SO FOLLOW ME IF YOU HAVEN'T YET!
Disclaimer:- This is not financial advice Do your own research.
If you like this chart, hit the like button and share your views in the comment section.
Thank you
#PEACE
Bitcoin (BTC) - October 30Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(USDT 1D Chart)
(USDC 1D Chart)
(BTC.D 1D Chart)
If BTC Dominance drops below the 39.56-40.44 range, there is a high probability of large volatility.
(USDT.D 1D Chart)
A decline in USDT dominance is likely to lead to an uptrend in the coin market.
So, the question is whether the decline can continue towards 6.06.
-----------------------------------------
(BTCUSDT 1D Chart)
The key is whether it can be supported by rising above the 20798.16 section.
If the uptrend continues to fail, it is likely to move towards the 2005.02 level.
A drop below 20050.02 and find resistance should be cautious as this could lead to further declines.
At this time, it is expected that the uptrend can continue only when it is supported near 19695.87.
If it finds support and moves higher near 20663.25, I expect an attempt to move higher above 21360.11.
The next volatility period is around November 7.
However, there is a high chance that a whipso will occur around October 31st.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** HA SRRC indicators are expressed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(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.)
---------------------------------
#USDT DOMININCE break the support!!Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
USDT DOMINANCE UPDATE
As I mentioned in my last USDT DOMINANCE UPADTE that we have 7.7% level as support and 7,27% as local resistance currently dominance break down this 7.7%level support now we can expect some good drop from here but hope it will not do any fackout.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
USDT DOMINANCE: KISS OF DEATH???Hello folks, welcome to this USDT dominance update in 12 hours timeframe.
A decent -8% drop in the USDT.D, and we saw how it broke below the rising wedge pattern. Technically, whenever a chart breaks below the rising wedge pattern, it tends to bounce back, attempting to reach/break the trendline. In most cases, this is a bearish formation and that's why it is known as the kiss of death. If this kiss of death is good to be true then we better be ready for the market to make some good rally.
As I said in my previous updates, the USDT dominance is already at its peak and soon we will see the downfall. This could be it or maybe another leg up, it is hard to tell but one thing is clear eventually, it will fall.
For now, let us see if this is actually a downfall for the dominance or a fake down to clear some weak hands.
More updates coming soon until then trade safely.
Potential Bearish BAMM On The USDT Dominance B Point AdjustmentThis is an update to a previous Pottential Shark BAMM Projection i had on the USDT Dominance.
It's been several months since posting and in that time the Shark Situation is still somewhat valid as a new high has not been made but i think it looks a bit ugly now. So based off the price action we've gotten recently i will be raising our Potential B point, thereby making this a Potential Bat rather Than a Potential Shark; The .886 Retrace Remains the Target if the B point breaks down.
Additionally we seem to be forming an accelerated Trendline which if we break that it would basically act as a Validation line to a Bearish Dragon.
We also seem to be trading within a Macro Ascending Broadening Channel on the Linear scale that we've Broken above but come back within at the highs.
Lastly the USDT Dominance is trading within a much larger Equidistant Channel on the Log scale Chart that can be seen below and i expect that it is setting up for a 50% Retrace overall:
Bitcoin (BTC) - October 28Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(USDT.D 1D Chart)
A decline in USDT dominance is likely to lead to an uptrend in the coin market.
So, the question is whether we can find resistance near 7.27 and continue the decline towards 6.06.
(NAS100USD 1D Chart)
The period of volatility is through October 31st.
So, you need to check the movement a bit more.
If it stays above 11373.2 until around October 28, it is expected to move higher around 11942.9-12119.2.
If not, it is necessary to check if support is provided in the 1.13 (10689.2)-0.886 (11344.2) range, which is the right Fibonacci ratio range.
It is important to be able to stay above the downtrend line (1) and above the 0.618 (10829.6) as far as possible.
-----------------------------------------
(BTCUSDT 1D Chart)
It fell under resistance near 20798.16.
However, if the price is maintained above the 20050.02-20131.46 range, it is expected to maintain an upward trend.
In order to continue the upward trend, it must rise above the HA-High indicator.
Therefore, it should rise above 20663.25.
However, since it is close to the resistance section of 20798.16-21838.98, it is expected that the uptrend can be continued only when it rises above this section.
The next volatility period is around November 7.
However, there is a possibility that it may fall below 20050.02 around October 31st, so you need to be careful.
If it declines, it is expected to decline near the long-term uptrend line (1), around 19659.87.
-----------------------------------
I don't think it's good to look at only one indicator when using a secondary indicator.
That's because each indicator has a different role to play.
Therefore, it is recommended to use multiple auxiliary indicators as much as possible to comprehensively evaluate the direction the secondary indicators are pointing in.
In that sense, it is recommended to use the HA SRRC indicator used in this chart.
For the HA SRRC indicator, the StochRSI, RSI, and CCI indicators were combined into one indicator using the value of the Heikin Ashi candle.
When all three indicators (possibly two or more) are in the overbought or oversold zone, it is interpreted that the trend is highly likely to change if it is out of this zone.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** HA SRRC indicators are expressed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(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.)
---------------------------------
#USDT DOMINANCE UPDATE Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
USDT DOMINANCE UPDATE
As I mentioned in my last USDT DOMINANCE update about this rising wedge pattern and it's going good currently we have 7.7% level as support and 7,27% as local resistance
IMO usdt dominance will retest this local resistance then dominance will drop again.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
USDT dominance hits its resistanceAs it is clear in the picture, in the 4H timeframe the USDT dominance hits to its resistance area from 7.07% to 7.1%. There is a convergence in MFI and RSI which are both in the oversold area. This indicate a upward movement in the USDT dominance which indicates a bearish move in the crypto market. I strongly suggest to be careful in long positions.
Bitcoin (BTC) - October 27Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(USDT.D 1D Chart)
When USDT dominance declines, the coin market is likely to show an upward trend.
So, the question is whether we can find resistance at 7.27 and move below 6.90.
(NAS100USD 1D Chart)
If held above 11373.2, we expect it to move above 11942.9.
The volatility period is October 27-31.
---------------------------------------
(BTCUSDTPERP 1D Chart)
The price needs to remain above the HA-High indicator to sustain the uptrend.
So, it just needs to be maintained at 20662.9 or higher.
However, as the resistance section is formed over the 20794.4-21826.1 section, it is expected that the upward trend will continue when it rises above this section.
Therefore, you need to check how it is supported in the 20794.4-21826.1 section.
If it falls below the HA-High indicator, it is expected to fall below 20122.5.
The section 21481.1-21826.1 is a section where you can proceed with breakout trading.
It's also a good idea to check if the newly added Volume Oscillator indicator closes in an uptrend.
The next volatility period is around November 10th.
(1h chart)
If it rises from the 20662.9-20794.4 section, it is likely to rise to the 1.618 (21331.3) ~ 21481.1 section.
If it declines, it is expected to decline to around 20122.5.
The trend is expected to continue depending on whether support or resistance is found around the circled area.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(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.)
---------------------------------
Good Sign For BTC & Alts !!Market Cap USDT dominance is in now Support Area. We can see it in Eliott waves. we can expect bearish pattern.
If it dumps we can expect Good times to btc and Other Alts. If it breaks we can expect it to fall( 4.35% - 3.75% area )
If it breaks ,
Next Suport Zone : (5.30%- 4.80%)
Strong support line area : 3.75%
Bitcoin (BTC) - October 26Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(BTC.D 1D Chart)
For the coin market to continue its upward trend, BTC price must rise first.
In order to do that, we need to show that the funds are concentrating towards BTC.
If funds are concentrated towards BTC, BTC dominance will rise.
(USDT.D 1D Chart)
This is because a decline in USDT dominance is likely to lead to an uptrend in the coin market.
(NAS100USD 1D Chart)
If it stays above 11373.2 until around October 28, it is expected to move higher around 11942.9-12119.2.
If not, it is necessary to check if support is provided in the 1.13 (10689.2)-0.886 (11344.2) range, which is the right-hand Fibonacci ratio range.
-----------------------------------------
(BTCUSDT 1D Chart)
The key is whether the price can be maintained in the 20050.02-20131.46 range or higher.
In order to continue the upward trend, it must rise above the HA-High indicator.
However, since it is close to the resistance section of 20798.16-21838.98, it is expected that the uptrend can be continued only after receiving support from the 20798.16-21838.98 section.
If it falls below 20050.02 and finds resistance, we should check to see if it finds support near 19695.87.
This is because a decline below 19695.87 is likely to lead to a bigger decline.
Bollinger Bands continue to contract and converge.
Therefore, we must not forget that the current sideways trend has been maintained.
To get out of the sideways section, it must rise above 21475.02 or fall below 18353.11.
The next volatility period is around November 7.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** HA SRRC indicators are expressed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(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.)
---------------------------------
#USDT DOMINANCE UPDATE!!Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
USDT DOMINANCE UPDATE
USDT DOMINANCE is trading under this symmetrical triangle pattern now we need a confirmed breakout or breakdown of this pattern
As per the chart Still Waiting for Confirmation
If dominance breakdown this symmetrical triangle then we see some good bounce on ALT.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Bitcoin (BTC) - October 25Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(USDT.D 1D Chart)
When USDT dominance declines, the coin market is likely to show an upward trend.
So, the key is whether or not it can move down towards 7.27.
(NAS100USD 1D Chart)
If held above 11373.2, we expect it to move above 11942.9.
---------------------------------------
(BTCUSDTPERP 1D Chart)
In order to turn into an uptrend and rise, it must rise above the HA-Low indicator and be supported.
Therefore, the key is whether it can rise above 19355.6 and find support.
In addition, if it is supported by rising above the MS-Signal indicator and above 19424.9, it is expected to rise above 19607.9 and continue rising to the primary resistance section of 20122.5 ~ 0.5 (20313.0).
The next volatility period is around November 10th.
(1h chart)
In order to transition into an uptrend, it must rise above the 19355.6-19607.9 zone and find support.
In particular, if the price is maintained above 19411.7, it will be more likely to move higher.
We need to see if the 5EMA and 26EMA on the 1D chart can rise above the 26EMA so that they can convert into a positive alignment.
If it rises above section 1, 19458.6, it is expected to rise to section 5.
If it falls below the 19216.3 ~ 0.382 (19260.9) range, it is expected to decline to around 18895.1-18947.7.
Therefore, it is important to converse around the current location, 19355.6.
If it does not move above 19355.6, the main position is 'SHORT'.
However, since it is close to the 19355.6 point, the position should be determined based on the 19216.3 ~ 0.382 (19260.9) section and the 19411.7 ~ 0.5 (19458.6) section.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(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.)
---------------------------------
Bitcoin (BTC) - October 24Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(BTC.D 1D Chart)
For the coin market to continue its upward trend, BTC price must rise first.
In order to do that, it must show that the funds are concentrated towards BTC.
If funds are concentrated towards BTC, BTC dominance will rise.
(USDT.D 1D Chart)
The key is whether USDT dominance declines when BTC dominance rises.
This is because a decline in USDT dominance is likely to lead to an uptrend in the coin market.
However, if BTC dominance rises sharply, altcoins may rather fall or go sideways, so be careful.
(NAS100USD 1D Chart)
If it stays above 11373.2 until around October 28, it is expected to move higher around 11942.9-12119.2.
If not, it is necessary to check if support is provided in the 1.13 (10689.2)-0.886 (11344.2) range, which is the right Fibonacci ratio range.
-----------------------------------------
(BTCUSDT 1W Chart)
The key is whether the price can be maintained above 20050.02 by moving along the uptrend line (2).
(1D chart)
In order to transition into an uptrend, the price must remain above the HA-Low indicator.
For that to happen, it needs to rise above 19695.87 for support.
October 22-24 is a period of volatility.
So, if it goes down, it is important to see support above the uptrend line (1), 19366.86.
In order to continue the upward trend, it must rise above the HA-High indicator.
To do that, you need to climb around 20798.16.
However, the 20798.16-21838.98 section is a resistance section, so it is expected that the upward trend will continue when it rises above this section.
We need to see if we can move higher than 20131.46 before moving towards 20798.16.
-----------------------------------------
A new indicator has been added to the volume indicator.
If you look at the 'Vol & Trend' indicator, the background color consists of a part corresponding to orange and a part corresponding to aqua color.
Orange indicates a high probability of an uptrend, while aqua indicates a high probability of a downtrend.
The shaded portions of this color indicate a strong trend, and the shaded portions of the color indicate a weak trend.
If we use this to explain the current trend of BTC price, we can interpret that it is maintaining a downtrend, but the downtrend is slowing down.
The coin market is a market structure with different prices and trading volumes across multiple exchanges.
Therefore, I think that analysis techniques using trend tracking are more suitable than the movement of trading volume in the coin market.
However, we hope that you use the indicator in the sense that you can predict the change in the price trend to some extent due to the change in the trend of the trading volume.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
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** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** HA SRRC indicators are expressed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(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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USDT DOMINANCE: A TOUGH CALL.Hello traders, I hope your weekend went well. Here's a quick update on USDT dominance in 8 hours timeframe.
The USDT.D is right at the edge of a big fall or a big bounce. For a pretty long time, the USDT.D has been maintaining the rising wedge pattern and now the entire market is anxiously waiting for a drop-down. When will it happen is just an assumption but one thing is clear the USDT.D has reached its peak and soon we will see the collapse.
In a higher timeframe, the USDT.D is yet to reach the 9.4% resistance level. This may sound crazy but the USDT dominance still can rally higher for the last time making a double-top pattern. This will allow the traders to panic and get away from the market which will eventually make room for the big-bag buyers to jump in.
So, as per the present scenario, if the USDT.D bounce back then we can expect it to reach the 8.4% resistance level. On the other hand, a breakdown below the support line will possibly take a step ahead to form a bearish pattern in the dominance.
Bitcoin (BTC) - October 23Hello?
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(USDT 1D Chart)
(USDC 1D Chart)
You need to be careful when trading as there is an ongoing outflow of funds through USDC.
If the outflow of funds does not stop, the rise of the coin market is bound to be limited.
(USDT.D 1D Chart)
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(BTCUSDTPERP 1D Chart)
The key is whether the price can sustain above 19216.3 to break out of the downtrend channel.
It is necessary to check if there is any movement outside the 0.786 (19076.8) - 19424.9 range due to the volatility between October 22-24.
To transition to an uptrend, it needs to rise above the HA-Low indicator and be supported.
Therefore, it should rise more than the 19355.6-19607.9 section.
A decline below 0.786 (79076.8) is expected to trigger a move towards the downtrend line (1).
Below 19424.9, the main position is the 'SHORT' position.
(1h chart)
If it succeeds in breaking above the 19216.3 ~ 0.382 (19260.9) section, then section 1 is the resistance section.
If it fails to rise above 19216.3, you need to touch the downtrend line (1) passing through section 2 and see if it rises.
This is because if it falls below the downtrend line (1), there is a possibility that it will fall back to section 3.
However, you need to be cautious as it touches the 18895.1-18947.7 zone and is moving upwards above the downtrend line (1).
Therefore, in order to take a new position, it is recommended to decide by looking at the movement when attempting to break through the range of 19216.3 ~ 0.382 (19260.9).
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- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(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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Bitcoin price, USDT and BTC dominance, Altseason🔥 All here👇Analyzing the sluggish behavior of the BTCUSDT price, we came across an interesting fractal that has the right to live and work.
Also, this fractal fits into the idea of the possible formation of a reversal pattern "Double Bottom" , which we wrote about in more detail in our previous idea:
We now have two critical points on the Bitcoin price chart: $18000-18300 and $23400
1. Negative scenario - if sellers manage to confidently fix the BTCUSD price below $18000-18300, then the idea of a possible "Double Bottom" and the development of this fractal lose their meaning. And for the BTC price itself, the way is open for a fall to $14-12-10 thousand.
2. A positive scenario is the growth to the upper critical point of $23400, it will at least slightly refresh the cryptocurrency market, which is simply mired in a swamp and consolidation and is not interesting to new and fresh money. If buyers cannot break through this critical point upwards, then the exhausting consolidation will continue according to the red scenario (more details were written in the previous idea)
3. The most positive scenario is a breakout and consolidation of the BTC price above $23400 and $24700. Then the continued growth of the BTCUSDT price to $34500 by the end of 2022. When the BTC price and possibly some of the stronger Alts show at least 1-2 months of stable growth, this will be a great signal for "fresh" money. That it is time to enter the crypto market, which has come to life.
And then the most interesting can begin - this is a strong alt-season from the beginning of 2023 until May 2023. While the BTCUSDT price will go into a "creeping growth" mode without sharp corrections, altcoins will begin to pump by "new" and sometimes "stupid" money. And this is pump, pump, pump, the main thing is guessing and reinvesting into the right altcoins.
In the end, let's take a look at the charts of BTC Dominance and USDT Dominance
There are two alt-seasons in our cryptocurrency trading memory: the super-powerful 2016-2017 and the DeFi boom of 2020-2021.
As you can see, on the BTC.D chart, dominance was falling during the 2017 alt-season, dropping from 90%+ to 35%. In 20-21, the dominance was diluted by more cryptocurrencies, and the fall started from 70% to 40%.
The logic is as follows: first, the money goes into a more stable asset BTC or ETH and their dominance grows. After, when crypto market participants see that the market has stabilized, and they can try to earn more %% than on the price movement of BTCUSDT or ETHUSDT, capital begins to flow from BTC to altcoins.
Also, the value of USDT.D begins to fall in parallel.
The high value of USDT dominance indicates that crypto market participants understand that at the moment it is safer "sit" in stablecoins than to invest in altcoins and sit in a drawdown.
As soon as the value of USDT.D starts to fall, it means that BTC and various altcoins are being bought for USDT.
If we summarize all our thoughts and assumptions writing above, we get the following possible scenario in the cryptocurrency market:
1. By mid-November 2022, the BTCUSDT price is growing more confidently than the prices of most altcoins.
2. From mid-November to the end of 2023, stronger and more stable altcoins join the growth.
3. From January to May 2023, the real alt season begins, where there will be Xs rise for everyone who wants it)
And then "Sell in May and go away"
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