Confirm support at 29281.09 to continue short term uptrend

2023年8月10日

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** The formula of the RSI indicator that composes the chart indicator has been changed.
** Therefore, support and resistance points are marked differently from previous charts.
** It is recommended that those who use this chart start by sharing the ideas published today.
(Reason for change: Changed the formula to be compatible with the index value of the exchange chart.)


(BTCUSDT chart)


(1M chart)

The key is whether you can rise with support around 28465.36-28923.63.

(1W chart)

We need to see if we can get support around 29281.09, the newly forming support and resistance point, and rise above the downtrend line (1).

If not, you should touch the uptrend line and see if you can continue the uptrend.

It needs to rise above 33092.98 to create a new trend.


(1D chart)

The key is whether it can rise above the resistance zone of 30077.41-30495.92.

To do so, we need to see if we can get support and rise around 29281.09.

If there is support around 29281.09, I would expect the short-term uptrend to continue.


If it doesn't and it goes down, you need to make sure it gets support around the support zone 28465.36-28923.63.


Therefore, a break from the 28465.36-30495.92 box is expected to form a new trend.

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It is a signal created by setting the CCI indicator on the exchange chart and displaying an arrow when the CCI crosses the CCI EMA.

In order to properly check this indicator, the setting value of the CCI indicator must be set to 150, EMA, 150.

Unfortunately, you cannot use 150 as the setting value of EMA as the default indicator of TradingView, so you must create and use it separately.


If you refer to the CCI indicator along with the StochRSI indicator, you will be able to see whether it is supported or resisted at more support and resistance points.

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(BTCKRW chart)

Looking at the big picture,
The key is whether it can rise above 40674000-43761000.

To do so, it is necessary to confirm that it can be supported and ascended around 36408000-38143000.


When viewed on a 1D chart,
If it finds support around 38776000, it is expected to maintain its short-term uptrend. (Purchase period)

However, it is important whether it can rise above 40674000. (when to sell)


The next volatility period is around August 25-30.

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- 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.

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** 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.

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2023年8月12日

註釋

(BTCUSDT 1D chart)

The StochRSI indicator failed to enter the overbought zone and is trending down.

So, it can be seen that BTC is currently sideways.

Since June 27th, it hasn't entered the overbought zone, so I think a big upside is likely if it shows an uptrend.

Therefore, the key is whether it can rise with support around 29281.09.

2023年8月13日

註釋

(USDT 1D chart)

Funds flowing into USDT have a great influence on the coin market.

Funds are currently flowing out through USDT.

This can be interpreted as a sign that the time for profit realization has arrived.

Provided there is not too much outflow of funds, it is expected to be a healthy adjustment.

Accordingly, it is judged that there is a possibility of a drop to around 82.959B.

Any further decline than that is expected to be the beginning of a period of downturn in the coin market rather than a healthy correction.

However, there is a possibility that it will drop to around 82.416B, which was touched previously.


Trading during take profit season and recording losses is likely to be disheartening during later sideways and uptrends.

Therefore, the stop loss point must be observed when trading.


Proceeds from Profit Realization are expected to be used towards BTC or ETH during later sideways or bullish periods.

2023年8月13日

註釋

(BTCUSDT 1D chart)

It is currently moving sideways around the MS-Signal indicator.

Correspondingly, the StochRSI indicator is also located in the 30-70 range.

Sideways will soon be the driving force behind a new trend.


As I told you through the analysis of the USDT chart, the coin market as a whole seems to have entered the period of profit realization.

So, once this sideways end and profit taking is over, I expect it to show a downtrend.

This downward trend is expected to energize the coin market.

Therefore, caution is required when climbing sharply after sideways.