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The most important thing in the current situation is the movement of the BTC price. Therefore, checking the movement of the BTC price should be prioritized over investing in altcoins at the moment.
Short-term trading is possible in any market situation, but if you are unfamiliar with trading, it is likely to lead to large losses, so it is advisable to pause and observe the situation.
Even those who invest in BTC, the price may move in an undesirable direction due to the whipsaw caused by the decrease in trading volume, so the management of the Stop Loss point is important.
We recommend that you proceed with the trade after seeing the volume increase.
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(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 fell in the 37301.0-38225.0 section. As such, we need to make sure we can sustain the price in the 32986.0-40600.0 range.
The 30448.0-32986.0 section is an important support and resistance section that determines the direction. If it falls from the 30448.0-32986.0 section, you can touch near the 25372.0 point. However, it may rise in the 27K range, so careful trading is required.
We need to see if we can break through the 40163.5-42084.0 and 45211.0-47265.5 sections, which are the primary resistance sections.
We expect a rebound wave followed by a bearish wave. However, as the trading volume continues to decrease, it is creating a picture of a sideways trend in the 32986.0-40600.0 section.
If this sideways trend continues and the M-Signal line of the 1W chart enters the 32986.0-40600.0 section, it is expected that the downward wave will end and turn into an upward wave.
The next volatility period is around June 30th.
(1h chart) Notice the movement before and after the time shown on the chart.
It remains to be seen if the 1h chart can move higher than the critical section of 35784.5-36610.5.
If it continues to fall, it should touch the 32290.5-34107.5 segment and see if it can rise.
As long as it does not fall below the uptrend line and the downtrend line passing through the 32185.0-34107.5 section, I would expect a move higher.
If the decline in volume is maintained, it is expected to touch the 32185.0-34107.5 section and move higher.
Trading volume should increase to break through the 32185.0-34107.5 and 37784.5-39948.0 sections.
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(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.
I can't draw conclusions as the week isn't over yet, but the Heikin Ashi candle is showing signs of turning into a bullish one.
However, if the price is below the MS-Signal indicator, it's hard to see that it's turned into an uptrend, so you should check where it closes this week.
(1D chart) It does not rise above the 40526.64 point and is falling.
Therefore, we are walking sideways in the section 27048.05-40526.64, which is a large sideways section. However, if it falls from the 33427.52 point, psychological fear may arise.
If the 27048.05-29166.04 (28130.0-29300.0) section is touched as a strong support section, it is expected that there will be a sharp rise near the 32259.90 point. If there is no sharp rise, the downtrend is expected to continue, so you need to think about how to respond.
The center line of OBV in the volume indicator is showing a downward trend since May 9th. This means that the trading volume has decreased accordingly.
What causes the price to fall as volume decreases may be the last move to buy before it rises.
However, if the price falls due to an explosive increase in trading volume, then it should be regarded as an extension of the downtrend, so careful trading is required.
(BTCUSDTPERP 1h Chart) (UTC) Notice the movement before and after the time shown on the chart.
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(BTCKRW 1W chart) If possible, a move above the uptrend line (2) is recommended. We will have to wait and see if we can climb above the 51798000 point.
If it does, we should see support at the 32023000-35545000 range and see if it can move along the uptrend line (2).
I think it's a good idea to trade with the downtrend as if it were in a downtrend until it deviated from the downtrend line.
(1D chart) We should see if we can break out of the downtrend line by moving up along the uptrend line (2). In particular, it remains to be seen if it can rise above the 43400000 point.
If it falls in the 47268000-51798000 section, it is expected that wave (c) of the down wave will proceed, so careful trading is required.
If the decline from the 3555000 point is, you can touch the 29698000 point, so you need to trade carefully.
The red color of OBV in the volume indicator is decreasing. It remains to be seen if this continues and if the OBV's red can transition to green. If this movement occurs when the price moves sideways in the 38483000-47268000 range, I would expect it to turn into an uptrend.
In the CCI-RC indicator, if the CCI line does not fall below -100 or rises above the EMA line, it is expected that the trend will gradually turn from a sideways trend to an upward trend.
The wRSI_SR indicator is an indicator that always creates waves whether the price flow is rising or falling. Therefore, I think it is useful when trading from a short-term perspective. It is not easy to interpret when looking at the overall flow.
Unlike overseas charts, the next volatility period is around June 21-27.
(Upbit BTCKRW 1D Chart)
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(BTC Dominance (BTC.D) 1D Chart) For the coin market to turn into an uptrend, BTC price must rise first. For that to happen, the funds need to be focused towards BTC. However, since the trading volume itself is in a state of decline, it is thought that the coin market is moving sideways.
Volatility around June 18 (June 17-19) should touch the 47.64-48.81 zone and see if it can move lower. In particular, it should not rise above the downtrend line (1).
If BTC dominance is below 50, the price of altcoins is expected to show a quick recovery.
We will have to wait and see if BTC Dominance can touch the 47.64-48.81 range and move lower. If it rises above the downtrend line (1), only BTC price can rise, so this also requires careful trading.
(USDT Dominance (USDT.D) 1D Chart) To continue the uptrend of the coin market, we need to see if it can drop below the 3.785 point at least.
If it does not close above the downtrend line (2), I would expect it to break below the 3.785 point.
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(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 of the gap continues, the coin market is expected to rise in the near future.
If there is a continuous gap drop, it means that funds are flowing out of the coin market, so careful trading is necessary.
If the price falls below 61.765B, it is likely to touch 56.607B, so be careful.
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We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it 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, ultimately allowing the funds corresponding to the profits to regenerate themselves.
** 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 through split trading.
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
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(BTC Dominance (BTC.D) 1D Chart) As BTC price rose, we expected a picture of an upward trend in BTC dominance, but the opposite is happening.
This means that funds are not being concentrated towards BTC. However, since the transaction volume of the coin market has plummeted, I think that the current coin market flow is only continuing in a meaningless sideways fashion.
The important thing is that this can increase the loss of your assets. To prevent this, if you continue to make additional purchases, you should be cautious as this can lead to unacceptable results.
There will be times when the coin market will explode in trading volume at some point. You have to wait until then.