Bitcoin (BTC) - September 23

Тема в разделе "English", создана пользователем Trading Ideas, 23 сен 2020.

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    Bitcoin (BTC) - September 23
    Bitcoin / US Dollar Perpetual Inverse Swap Contract BITMEX:XBTUSD
    Dear traders, nice to meet you.

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    ( BTC Dominance 1D Chart)
    It's a downtrend line (4) with weak support and resistance , but we have to see if we can get resistance and move down the trend line .

    I think BTC dominance has an effect on the price rise and fall of altcoins rather than the rise and fall of BTC price.
    If altcoins continue to defend their prices as BTC prices decline, I think there is a possibility that BTC prices will also turn upward.

    The trend line that is important in the current position is the downtrend line (1), and it is expected that the price of the coin market rises only when it falls below the downtrend line (1).

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    (USDT Dominance 1D Chart)
    For now, we have to see if we can get resistance at 4.866.
    You will also have to watch if it will touch the 5.003 point.

    You should also check if USDT dominance has declined between 4.511-4.613 or below after October 1st.

    USDT dominance must decline to indicate that the coin market as a whole is on an upward trend.

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    The decline, which started on September 2nd, has formed a connected triangular pattern all the way to its current position.

    It is a shape that is tilted downwards, and it is a shape that is not unusual even if it falls through the triangle at any time.

    Of the horizontal lines passing through this triangle, 10591.5 points and 11072.0 points can be considered to be near the location that divides the triangle into thirds.

    It is supported at 10300.0 and rises to its current position.
    It remains to be seen if it can rise above 10591.5 points along the uptrend line.

    (It is recommended to share the chart to check the point of each trend line .)

    If you break through the triangle and climb, I think you should climb above the 11072.0 point and get support.
    In particular, if you touch the downtrend line (7), I think you should unconditionally get support from the downtrend line (7).

    This is because if you break through the downtrend line (7) and get support at the downtrend line (7), you can expect further gains in an uptrend.
    If not, I think there is a good chance that a rebound will end and a bigger decline will come.

    Crisis can be another opportunity.
    However, while accepting the crisis as it is, I think it is necessary to proceed with the investment while observing whether the support and resistance points according to the investment scenarios survive well in the section.

    Thinking or acting ahead of others cannot necessarily be said to be an advantage for investment.

    Currently, I think it is important to keep track of the chart flow until October 1st.

    I think the most important points are whether you can rise above the downtrend line (7) and get support at the 10088.5 point.

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    By posting the chart once a day, you can feel that one day it is rising and one day it is falling without the concept of rising and falling.

    I think you can feel that way because it tells you the movement of that day.

    The overall flow remains the same.
    It is expected to rise to the 14K range or fall to the 7757 point.

    Also, it is expected that the period between falling or rising this time will be shorter than expected.

    (If you look at the charts I've posted so far, you'll see what I've been talking about consistently.)

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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.)
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