Climb above the 38152.5 point and see if it is supported.
If it falls, you need to make sure you get support in the 34871.0-35964.5 range. If you decline at 34107.5, you need a short stop loss.
If it falls in the 27039.5-29350.0 interval, it is expected to turn into a downtrend, so you need to think about how to respond.
If it is supported above the 38152.5 point, it is expected to move up to 40340.0-41433.5 and re-orientate.
It remains to be seen if it can rise within the short-term bullish channel range.
It remains to be seen if the volume indicator's OBV can rise as the buy width (green) increases near the 13.496B point. The width of the buy (green) is increasing, but it is falling. We need to see if OBV rises.
In the wRSI_SR indicator, the RS line must be positioned above 80 points, so we must watch whether the SR line can ascend near the 80 point. When the RS and SR lines cross, the volatility that occurs requires careful trading.
On the CCI-RC indicator, we must see if the CCI line can intersect the EMA line.
The 38225.0-44715.0 section is the section that is likely to decline after completing the'M' pattern. Accordingly, I think it is good to see an upward movement accompanied by a large amount of trading.
However, BTC dominance continues to decline. I believe that BTC dominance affects altcoin prices rather than rising and falling BTC prices.
I believe that the continued decline in BTC dominance will eventually lead to a bull market for altcoins. Accordingly, the BTC price becomes highly volatile and requires careful trading.
It is time to give weight to the SHORT position, but if you put too much weight on it, liquidation due to high volatility may occur.
If you get support by breaking above the 38225.0 point, I think it is better to gain profit by putting more weight on the LONG position than the SHORT position for the time being. This is because, as explained above, it is likely to rise to the 40340.0-41433.5 section.
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(BTC Dominance 1D Chart) It remains to be seen if the volatility between around January 28th and around February 7th will lead to movement that deviates from the 61.20-67.44 range. We will see if we can get resistance at 61.20 and move below the uptrend line (1).
(USDT Dominance 1D Chart) Between February 3 and 16, we have to watch for movements that deviate from 2.187-2.842. In particular, it remains to be seen if it can fall below the uptrend line (1).
** 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 conventional 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 published by oh92. (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, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
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(XBTUSD 1h chart)-Short term strategy
If you forcefully enter a position and start trading, you will end up losing more. If you keep the section where you enter the position and the Stop Loss point, I think you can close the position with profit.
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(LONG) 1. Entry point: When breaking above the 37569.0 point Target point: 1st 38566.0 point or higher, 2nd 39563.0 point or higher Stop Loss: 37070.5 point
2. Entry point: When it exceeds 40061.5 point Target point: 41556.5 points or more Stop Loss: 39563.0 point
(SHORT) 1. Entry point: When breaking below the 39563.0 point Target point: 1st 38566.0 point or less, 2nd 37569.0 point or less Stop Loss: 40061.5 points
2. Entry point: When breaking below 37070.5 point Target point: 35575.0 point or less Stop Loss: 37569.0 point
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If you continue to read my article, I think there will be no need for entry points, target points, and Stop Loss. I think you understand where the movement begins.
We are trying to tell you easily in a format that anyone can understand. However, I think whether or not you can proceed with the transaction by digesting it with your own, it depends on whether you have invested a lot of time and verified it.
It's also important to get a lot of profits from short-term strategies, but if you think that short-term strategies will increase your ability to trade mechanically, I think if you proceed, you will definitely start to get good results.
(OKEX BTCUSDTPERP 1h chart)-Short term strategy
(LONG) 1. Entry point: When exceeding the 37442.9 point Target point: 1st 38432.7 point or higher, 2nd 39422.5 point or higher Stop Loss: 36948.0 point
2. Entry point: When breaking above the 39917.4 point Target point: 41402.1 point or higher Stop Loss: 39422.5 point
(SHORT) 1. Entry point: When breaking down from the 39422.5 point Target point: 1st 38432.7 or less, 2nd 37442.9 or less Stop Loss: 39917.4 point
2. Entry point: When breaking below 36948.0 point Target point: 35463.3 points or less Stop Loss: 37442.9 point
(Binance BTCUSDTPERP 1h chart)
Please refer to the short-term strategy descriptions on other charts to create a short-term strategy.
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(BTC Dominance (BTC.D) 1D Chart)
(USDT Dominus (USDT.D) 1D chart)
BTC dominance is on the rise as BTC price rises. Accordingly, altcoins may fall or sideways. Watch the flow of the market by watching the BTC Dominance Chart and the USDT Dominance Chart together.
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(Binance BTCUSDT 1D chart) We need to see if we can get support in the direction-determining segment 40169.80-41257.59.
(XBTUSD 1D chart) We have to see if we can get support in the direction-determining section, 40340.0-41433.5.
(USDT Dominance 1D Chart) I think the important thing in deciding the direction is to watch the flow of money. Accordingly, we must see if there is any movement that deviates from the 2.187-2.541 range of USDT dominance. If the USDT dominance falls, I think the money is buying coins in the coin market.
If you climb above the downtrend line (2) and hit the 2.842 point, you may have a sharp decline, so you need to trade carefully.
(BTC Dominance 1D Chart) The volatility around February 7th (around February 6th-8th) will have to see if there is any movement that deviates from 61.20-63.38. I think the rise in BTC dominance means a fall in altcoins' prices. I think that as the current BTC price rises, the BTC dominance rises, showing that funds are being concentrated towards BTC. Accordingly, altcoins' prices may move sideways or fall.
If BTC price rises and starts to sideways at a certain point, altcoins' price is expected to rise. Accordingly, if you are investing in altcoins, I think it is a good idea to check if BTC dominance is falling.
If BTC dominance touches 63.38 point and falls, altcoin price is expected to surge. You can touch up to 67.44 points. If it touches the 67.44 point, USDT dominance must be falling for a bull market. If the USDt dominance rises, it means that the money will exit the coin market, so I think the coin market could turn into a downtrend.