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Bitcoin (BTC) – August 29 for BINANCE:BTCUSDT by readCrypto

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( BTCUSDT 1W Chart)

If the price is maintained above the 28130.0-29300.0 range, it is expected that the uptrend will continue.

If the price is maintained above the 40100.0-41950.0 range, it is expected to lead to a full-fledged uptrend.

If it rises above the 46930.0 point, it will enter the high point section.

If the price holds above the 46930.0 point, it is expected to create a new wave.

(1D chart)

It is an important section that determines the direction in section 46487.52-49266.69.

46487.52-49266.69 It is necessary to check whether there is a movement out of the section.

1st resistance section when ascending: 54825.03-56578.21

1st support section in case of decline: 43916.35-46930.00

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( BTCUSDTPERP 1D Chart)

The section 46559.44-49345.92 is the section that determines the direction.

It is necessary to check if there is any movement out of the 46559.44-49345.92 section due to the volatility between August 19-29.

1st resistance section when ascending: 54918.88-56630.33

1st support section when falling: 43945.50-46837.06

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( XBTUSD 1W Chart)

If the price is maintained above the 27650.0-29350.0 range, it is expected that the uptrend will continue.

Above the 47010.0 point, it is expected to create a new wave if the price is maintained as a high point.

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( BTC Dominance ( BTC .D) 1D Chart)

We need to see if we can drop below the 43.17 point.

If it rises above the 48.81-50.86 section, I think the coin market is highly likely to be in a downtrend.

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(USDT Dominance (USDT.D) 1D Chart)

It remains to be seen if the altcoin bull market can be in full swing by dropping below the 3.009 point.

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(USDT 1D Chart)

We are showing you a new type of chart.

A rise above 62.904B is expected to trigger a new trend in the coin market.

Looking at the USDC 1W chart (https://www.tradingview.com/x/83wP28kc/), we should see if there is an uptrend along the uptrend line.

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(ETH Dominance (ETH.D) 1D Chart)

We need to see if there is any movement to rise above the downtrend line (1).

In particular, we need to see support at the 18.13 point and see if it rises.

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( XBTUSD 1M Chart)

All patterns and waves can be known when they are completed, so it is best to conduct a trade that matches your average unit price rather than a trade based on prediction.

Looking at the big picture, I think 4-5 waves are going on.

Depending on how you interpret section A, the wave may be different.

Likewise, you need to be more careful in your trading, as the parts that have not yet been created may have the same flow as section A.

The expected ascent section is near the 80574.0-83397.0 section.

This is an expected value considering the fluctuation range that has risen from the 1st section to the 2nd section.

There are two large resistance zones to move up to the expected zone.

The two large resistance sections are section a and section b.

If it fails to break through section a upward, I think it can represent the same flow as section A.

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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 the 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.

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** 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 are not traded 24 hours a day.

G1 : Closing price when closed

G2: Opening price

(Example) Gap (G1-G2)

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