Bitcoin (BTC) - February 8 (USDT Dominance Check)

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We have to see if we can get support by ascending to the 40169.80-41257.59 range.

If it falls, we need to make sure it is supported at 38150.02.

If you decline at 33949.53, you need a short stop loss.

If it falls in the 27079.41-29300.0 interval, it is expected to turn into a downtrend, so you need to think about how to respond.


On the CCI-RC indicator, it remains to be seen whether the CCI line can break above the EMA line.


If it gets support from 40169.80-41257.59, it is expected to re-determine the flow of BTC.

We have to see if we can get support at 40169.80-41257.59 between around 10th and 15th February.


Since the 38152.02-44520.98 section has a high probability of falling after completing the'M' pattern, I think it is better to increase with a large amount of trading.
So, we have to watch the OBV rise as the green width increases.


If it rises after breaking above 44520.98, it is expected to re-determine the flow of BTC at 47784.37-48872.16.

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(OKEX BTCUSDT 1D chart)
snapshot
We have to see if we can get support at 37645.3 and climb above 39799.9.

If you decline at 34559.3, you need a short stop loss.

If it falls in the 28165.8-29309.0 interval, it is expected to turn to a downtrend, so you need to think about how to respond.


If it is supported in the 39799.9-40877.3 section, it is expected to re-determine the flow of BTC.

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(Coinbase BTCUSD 1D chart)
snapshot
The volatility around February 9th (February 8-10) will have to see if there is any movement that deviates from the 35890.94-40254.38 range.

In particular, we have to see if we can get support by climbing to the 40254.38-41345.24 section.

If it falls, we need to make sure it is supported at 38072.66.

If you move down at 34030.64, you need a short stop loss.

If it falls in the 27040.36-29321.90 range, it is expected to turn into a downtrend, so you need to think about how to respond.


If it rises to 40254.38-41345.24 and gains support, it is expected to re-determine the flow of BTC.

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(BTC Dominance 1D Chart)
snapshot
It remains to be seen if the volatility around February 7th (February 6--8) causes any movement that deviates from 61.20-67.44.
In particular, it remains to be seen if it can fall below the downtrend line (3).

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(USDT Dominance 1D Chart)
snapshot
Between February 3 and 16, we have to watch for movements that deviate from 2.187-2.842.

It remains to be seen if the dominance can be maintained below the 2.541-2.670 interval between around February 9th-16th, i.e. below the downtrend line (2).
In particular, it remains to be seen if it can fall below the uptrend line (1).
If it fails to fall below the uptrend line (1), the USDT dominance is expected to rise eventually.

If USDT dominance rises, the coin market will start to decline.

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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)
** The OBV indicator was re-created by applying a formula from the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.)
** 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 or 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)
Nota
(USDT Dominance 1D Chart)
snapshot
If it fails to fall below the uptrend line (1), the USDT dominance will eventually rise.

If USDT dominance rises, the coin market could turn into a downtrend.

We have to see if we can maintain dominance below the 2.406 point to move below the uptrend line (1).



(BTC Dominance 1D Chart)
snapshot
As BTC price surges, BTC dominance is rising.
If the BTC dominance rises, the altcoin's price may move sideways or fall.
Altcoins that move sideways or fall are likely to rise at the end of a bull market, so be careful with your trading.

We believe BTC dominance is likely to rise to a point of up to 67.44.
However, if the BTC price moves sideways in a certain period before that and maintains the price, we expect BTC dominance to decline.

If you touch the M-Signal line of the 1W chart and fall, it is expected to lead to a bull market for altcoins.

If you are investing in altcoins, it is recommended to check the movement of BTC dominance together.
Bitcoin (Cryptocurrency)btcdominanceBTCUSDBTCUSDTChart PatternsTechnical IndicatorsTrend Analysisusdtdominance

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