Bitcoin (BTC) - January 23 (volatility period until January 24)

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We need to see if we can move above the 33949.53 point to get out of the short-term downward trend.

If it falls, we need to make sure it is supported at 31467.43.

If you get support at 31467.43-34730.82, there is a chance that it will rise to 34730.82-35818.61.

However, it is necessary to respond to the decline until it crosses the downtrend line (9).
So, you have to think about how to deal with it in the 29300.0-33949.53 section.


In the wRSI_SR indicator, if the RS line tries to break above the 20 point and the SR line, volatility may occur, so careful trading is required.

Accordingly, the price of coins is expected, but the price of many coins is currently located in the peak section.
In order to enter in such a case, it is necessary to enter when it falls to reduce psychological pressure.
Therefore, you must be cautious about entering unless you are a breakthrough trading that enters when you break above a certain resistance point.


It is important whether you can break above the downtrend line (9).
Until you get off the downtrend line (9), you need a strategy to prepare for a downtrend.
The next volatility period is around January 28th-around February 2nd.

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(OKEX BTCUSDT 1D chart)
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It remains to be seen if the volatility around the 23rd of January results in any movement deviating from the 31181.4-34413.4 segment.
If you touch the 28165.8-29309.0 section, I think there is a high possibility of turning into a downtrend.

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(Coinbase BTCUSD 1D chart)
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You should watch for any movement that deviates from the 31527.50-34030.64.
If you touch the 27040.36-29321.90 section, I think there is a high possibility of turning into a downtrend.

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(BTC Dominance 1D Chart)
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You should watch for any movement that deviates from 64.86-65.89.
It remains to be seen if it could fall below the 63.38 point and turn into a mid- to long-term downtrend.

(1W chart)
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I think the decline in BTC dominance is related to the rise and fall of altcoin prices rather than the rise and fall of BTC prices.
Accordingly, if it falls below the 63.38 point, I think the coin market is likely to be a bull market.

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(USDT Dominance 1D Chart)
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It remains to be seen if the volatility around January 23rd (January 22nd-24th) leads to a movement that deviates from the 2.349-2.842 range.
In particular, we need to see if it can drop below the 2.541 point.

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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 traditional 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 or CME and BAKKT exchanges were closed because they are not trading 24 hours a day.
G1: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Bitcoin (Cryptocurrency)btcdominanceBTCUSDBTCUSDTChart PatternsTechnical IndicatorsTrend Analysisusdtdominance

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