Bitcoin (BTC) - January 7
Happy New Year!!!
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You should watch for any movement that deviates from 32671.63-36378.99.
If it falls at 34525.31, it is a short-term Stop Loss, but if there is no countermeasure for a short-term response, it is not recommended to do the Stop Loss.
Since you have touched the 36378.99 point or higher, if it falls between 32053.74-32671.63, you need a Stop Loss to preserve profit or loss.
However, it is necessary to trade carefully as it can rebound after touching the 27079.41-29300.0 section.
If it falls between 27079.41-29300.0, it is expected to turn to a downtrend.
Looking at the wRSI_SR indicator, the indicator and price movement are reversed.
The short-term bearish divergence is underway, so a careful trek is needed.
If the RS line touches 20, volatility may occur.
At this time, if the RS line turns into a short-term uptrend after receiving support above 34525.31, it is expected to break above the 36378.99-36996.88 section.
The volatility period shown in the current chart is around January 14th.
However, you need to check the volatility periods mentioned in the other charts.
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(OKEX BTCUSDT 1D chart)
You need to make sure you can get support on the 35812.2-36412.3 section.
If it falls from 34011.9, it is a short-term stop loss, but if there is no countermeasure for a short-term response, stop loss is not recommended.
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(Coinbase BTCUSD 1D chart)
It remains to be seen if the volatility around January 7th leads to a movement that deviates from the 32681.37-36368.35 range.
If it falls from the 34533.86 point, it is a short-term stop loss, but if there is no countermeasure against the short-term response, it is not recommended to do it.
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(BTC Dominance 1D Chart)
You should watch for any movement that deviates from the 67.44-69.80 range.
I think BTC dominance is related to the rise and fall of altcoin prices.
Accordingly, if BTC dominance falls, I think the price of altcoins is likely to rise.
After the plunge in XRP, it seems that the flow of BTC dominance is unfolding differently than before.
Therefore, I don't think it's good to check the BTC dominance's move towards the support and resistance points, but just watch the BTC dominance rise and fall.
This flow is expected to show a normal flow if it enters a sideways period after the BTC price falls and the entire coin market falls.
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(USDT Dominance 1D Chart)
The price of most coins is pumping down below the 2.349 point.
We'll see if we can get resistance at 2.349-2.406 and move towards 1.952.
If it rises above 2.842 points, it is possible that the coin market is ready to turn to a downtrend.
If you look at the wRSI_SR indicator, you can see that the movement of section A and section B is different.
The movement of the surface and the movement of USDT dominance are moving in opposite directions.
Accordingly, we can see that short-term bullish divergence is underway.
You should check the movement around January 5th-10th.
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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)
** 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: closing price when closed
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
You should watch for any movement that deviates from 32671.63-36378.99.
If it falls at 34525.31, it is a short-term Stop Loss, but if there is no countermeasure for a short-term response, it is not recommended to do the Stop Loss.
Since you have touched the 36378.99 point or higher, if it falls between 32053.74-32671.63, you need a Stop Loss to preserve profit or loss.
However, it is necessary to trade carefully as it can rebound after touching the 27079.41-29300.0 section.
If it falls between 27079.41-29300.0, it is expected to turn to a downtrend.
Looking at the wRSI_SR indicator, the indicator and price movement are reversed.
The short-term bearish divergence is underway, so a careful trek is needed.
If the RS line touches 20, volatility may occur.
At this time, if the RS line turns into a short-term uptrend after receiving support above 34525.31, it is expected to break above the 36378.99-36996.88 section.
The volatility period shown in the current chart is around January 14th.
However, you need to check the volatility periods mentioned in the other charts.
------------------------------------------------
(OKEX BTCUSDT 1D chart)
You need to make sure you can get support on the 35812.2-36412.3 section.
If it falls from 34011.9, it is a short-term stop loss, but if there is no countermeasure for a short-term response, stop loss is not recommended.
-------------------------------------------------- ----
(Coinbase BTCUSD 1D chart)
It remains to be seen if the volatility around January 7th leads to a movement that deviates from the 32681.37-36368.35 range.
If it falls from the 34533.86 point, it is a short-term stop loss, but if there is no countermeasure against the short-term response, it is not recommended to do it.
-----------------------------------------------
(BTC Dominance 1D Chart)
You should watch for any movement that deviates from the 67.44-69.80 range.
I think BTC dominance is related to the rise and fall of altcoin prices.
Accordingly, if BTC dominance falls, I think the price of altcoins is likely to rise.
After the plunge in XRP, it seems that the flow of BTC dominance is unfolding differently than before.
Therefore, I don't think it's good to check the BTC dominance's move towards the support and resistance points, but just watch the BTC dominance rise and fall.
This flow is expected to show a normal flow if it enters a sideways period after the BTC price falls and the entire coin market falls.
--------------------------------------------------
(USDT Dominance 1D Chart)
The price of most coins is pumping down below the 2.349 point.
We'll see if we can get resistance at 2.349-2.406 and move towards 1.952.
If it rises above 2.842 points, it is possible that the coin market is ready to turn to a downtrend.
If you look at the wRSI_SR indicator, you can see that the movement of section A and section B is different.
The movement of the surface and the movement of USDT dominance are moving in opposite directions.
Accordingly, we can see that short-term bullish divergence is underway.
You should check the movement around January 5th-10th.
-------------------------------------------------- -------------------------------------------
** 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)
** 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: closing price when closed
G2: Market price at the time of opening
(Example) Gap (G1-G2)
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