Bitcoin (BTC) - May 29
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-------------------------------------
Please refer to the description of the chart suitable for your investment period.
It explains from movement in the big picture to movement in the small picture.
From a long-term investment perspective, the explanation of the 1W chart is important.
However, the explanation of 1h charts or 1D charts is important for day trading or short-term trading.
In my chart, many lines are cluttered.
These are lines drawn from a trading standpoint, so I think they can be useful when buying and selling.
To see the flow of the chart, you only need to refer to the points or sections mentioned in the description.
Since I am explaining the charts from a trading standpoint, I do not write down my thoughts on published articles and all kinds of news as much as possible.
This is because, if misinterpreted, these articles or news can look at the market in the wrong direction.
The best way to trade is to keep making profits no matter how you trade.
I just hope that this article will help you in some way in finding the right trading method for you, from small to large profits.
---------------------------------------------
(BTCUSDT 1W chart)
We need to see if we can move higher along the uptrend line (2) and move above the 45135.66 point.
Point 28923.63 is a strong support point.
So, if it goes down, you should check to see if it finds support at the 28923.63-32259.90 zone.
(1D chart)
I think we did some price protection during the first volatility period after the fresh start.
For now, it is important to be able to initiate a consolidation to stop the downtrend.
If this continues, we will have to wait and see if we can find support at the 30437.40-32974.79 zone and move up.
In order to turn to an uptrend, it must be supported by rising at least 41950.0 points.
The next volatility period is around June 1.
From a broad perspective, the 32947.79-48199.13 section is a sideways section.
Therefore, I think the bearish wave is continuing until it rises above the 48199.13-50736.52 section.
The first resistance section is 40586.96-41950.0 section.
The secondary resistance section is 45135.66-47153.69.
If it falls without breaking the 45135.66-47153.69 section, it is expected to lead to a decline in the rebound of the downtrend.
The expected downtrend is expected to touch the 25362.63-27079.41 zone, moving downwards from the critical 28923.63 point.
Accordingly, careful trading is required.
(BTCUSDTPERP 1h Chart)
(UTC)
Notice the movement before and after the time shown on the chart.
------------------------------------
(XBTUSD 1W Chart)
We should see if we can move above the 45211.0 point by moving up along the uptrend line (2).
The 33101.0 point is a strong support point.
If it goes down, you should check to see if it finds support at the 27650.0-33101.0 zone.
(1D chart)
It failed to follow the uptrend line (2) and fell.
It remains to be seen if the 30448.0-32986.0 section can find support and move up.
In particular, the 33101.0 point is an important point to support and should check to see if it rises.
In order to turn into an uptrend, it needs to rise above the 42084.0 point and find support.
It is important to see if the current trend can converse on the 32986.0-40600.0 section and move along the uptrend line (2).
The next volatility period is around June 1.
(1h chart)
(UTC)
Notice the movement before and after the time shown on the chart.
It remains to be seen if the 32734.0-35784.5 section, marked by the trough, can find support and move up.
If it falls from the 32290.5-34107.5 zone, you can touch the 27071.0-29208.5 zone, so you need to trade carefully.
----------------------------------------------
(BTC Dominance (BTC.D) 1D Chart)
We will have to wait and see if we can break below the 43.17 point.
If BTC dominance is below 50, the price of altcoins is expected to show a quick recovery.
The movement of altcoins is good enough to say that altcoins are leading the market this year.
Accordingly, we need to look at the movements of major coins.
The next volatility period on the BTC dominance chart is around June 6th.
--------------------------------------------------
(USDT Dominance (USDT.D) 1D Chart)
We'll see if we can get resistance at 4.158 and drop below the 3.374 point.
To continue the upward trend of the coin market, we will have to wait and see if it can drop below the 3.374 point.
The next volatility period on the USDT Dominance chart is around June 13th.
----------------------------
(USDT 1D Chart)
I think the rise in the gap is a sign of money flowing into the coin market.
Conversely, I think that the gap drop is a sign of money being pulled out of the coin market.
If the rise in the gap continues, the coin market is expected to rise in the near future.
If the gap falls continuously, it means that funds are flowing out of the coin market, so careful trading is necessary.
--------------------------------------
It is advisable to trade at your average unit price.
This is because if the price is below your average unit price whether the price trend is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, so that the funds that ultimately correspond to the profit can regenerate the profit.
-------------------------------------------------- -------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, 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 to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** See support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section.
(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.)
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: Opening price
(Example) Gap (G1-G2)
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------
Please refer to the description of the chart suitable for your investment period.
It explains from movement in the big picture to movement in the small picture.
From a long-term investment perspective, the explanation of the 1W chart is important.
However, the explanation of 1h charts or 1D charts is important for day trading or short-term trading.
In my chart, many lines are cluttered.
These are lines drawn from a trading standpoint, so I think they can be useful when buying and selling.
To see the flow of the chart, you only need to refer to the points or sections mentioned in the description.
Since I am explaining the charts from a trading standpoint, I do not write down my thoughts on published articles and all kinds of news as much as possible.
This is because, if misinterpreted, these articles or news can look at the market in the wrong direction.
The best way to trade is to keep making profits no matter how you trade.
I just hope that this article will help you in some way in finding the right trading method for you, from small to large profits.
---------------------------------------------
(BTCUSDT 1W chart)
We need to see if we can move higher along the uptrend line (2) and move above the 45135.66 point.
Point 28923.63 is a strong support point.
So, if it goes down, you should check to see if it finds support at the 28923.63-32259.90 zone.
(1D chart)
I think we did some price protection during the first volatility period after the fresh start.
For now, it is important to be able to initiate a consolidation to stop the downtrend.
If this continues, we will have to wait and see if we can find support at the 30437.40-32974.79 zone and move up.
In order to turn to an uptrend, it must be supported by rising at least 41950.0 points.
The next volatility period is around June 1.
From a broad perspective, the 32947.79-48199.13 section is a sideways section.
Therefore, I think the bearish wave is continuing until it rises above the 48199.13-50736.52 section.
The first resistance section is 40586.96-41950.0 section.
The secondary resistance section is 45135.66-47153.69.
If it falls without breaking the 45135.66-47153.69 section, it is expected to lead to a decline in the rebound of the downtrend.
The expected downtrend is expected to touch the 25362.63-27079.41 zone, moving downwards from the critical 28923.63 point.
Accordingly, careful trading is required.
(BTCUSDTPERP 1h Chart)
(UTC)
Notice the movement before and after the time shown on the chart.
------------------------------------
(XBTUSD 1W Chart)
We should see if we can move above the 45211.0 point by moving up along the uptrend line (2).
The 33101.0 point is a strong support point.
If it goes down, you should check to see if it finds support at the 27650.0-33101.0 zone.
(1D chart)
It failed to follow the uptrend line (2) and fell.
It remains to be seen if the 30448.0-32986.0 section can find support and move up.
In particular, the 33101.0 point is an important point to support and should check to see if it rises.
In order to turn into an uptrend, it needs to rise above the 42084.0 point and find support.
It is important to see if the current trend can converse on the 32986.0-40600.0 section and move along the uptrend line (2).
The next volatility period is around June 1.
(1h chart)
(UTC)
Notice the movement before and after the time shown on the chart.
It remains to be seen if the 32734.0-35784.5 section, marked by the trough, can find support and move up.
If it falls from the 32290.5-34107.5 zone, you can touch the 27071.0-29208.5 zone, so you need to trade carefully.
----------------------------------------------
(BTC Dominance (BTC.D) 1D Chart)
We will have to wait and see if we can break below the 43.17 point.
If BTC dominance is below 50, the price of altcoins is expected to show a quick recovery.
The movement of altcoins is good enough to say that altcoins are leading the market this year.
Accordingly, we need to look at the movements of major coins.
The next volatility period on the BTC dominance chart is around June 6th.
--------------------------------------------------
(USDT Dominance (USDT.D) 1D Chart)
We'll see if we can get resistance at 4.158 and drop below the 3.374 point.
To continue the upward trend of the coin market, we will have to wait and see if it can drop below the 3.374 point.
The next volatility period on the USDT Dominance chart is around June 13th.
----------------------------
(USDT 1D Chart)
I think the rise in the gap is a sign of money flowing into the coin market.
Conversely, I think that the gap drop is a sign of money being pulled out of the coin market.
If the rise in the gap continues, the coin market is expected to rise in the near future.
If the gap falls continuously, it means that funds are flowing out of the coin market, so careful trading is necessary.
--------------------------------------
It is advisable to trade at your average unit price.
This is because if the price is below your average unit price whether the price trend is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, so that the funds that ultimately correspond to the profit can regenerate the profit.
-------------------------------------------------- -------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, 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 to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** See support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section.
(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.)
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: Opening price
(Example) Gap (G1-G2)
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