Bitcoin (BTC) - September 18

18 ก.ย. 2020

Hello?
Dear traders, nice to meet you.

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You need to see if you can climb along the uptrend line (5).

It remains to be seen if it can rise along the uptrend line (5) and then cross the downtrend line (7) and rise above the uptrend line (4) and 11516.5 points.


(1h chart)

Make sure you are located above the uptrend line (5) and the 10968.0 point after the time indicated on the chart.

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(USDT 1D chart)



(USDT Dominance 1D Chart)

We have to see if we can move below the 4.468 point.
Now I don't think it should rise above the downtrend line (1).
If it rises above the downtrend line (1), I think it is likely to rise above the 4.613 point.
I believe that USDT dominance must decline in order for funds to continue to flow into the coin market.
(It is recommended to view the BTC dominance chart and the USDT chart together as it may decline by converting USDT into cash.)

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(BTC Dominance 1D Chart)

I've been telling you consistently.
As long as BTC dominance breaks through the downtrend line (1) and does not rise to the 63.380 point, the coin market is expected to continue the upward trend.
However, although BTC dominance did not rise above the downtrend line (1), most of the altcoins showed a significant decline.
I think this is because the funds are gradually being concentrated in BTC, and individual traders have changed from before.
Altcoins are seen to be gradually recovering after going from overbought to oversold.
Accordingly, if the BTC price gradually rises from the 11K range, altcoins are expected to rise again.

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** 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 generating profit as a support point or segment

(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)