Bitcoin (BTC) – August 24 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.

The 25-27 August volatility should support support at the 49266.69 point and see if it can move higher than the 50931.69 point.

If the price is maintained above the 50931.30 point, the first resistance section is the 54825.02-56578.21 section.

This first resistance zone is likely to form a volatility zone to move upwards towards the 60383.36-63152.53 zone.

If the 46487.52-49266.69 zone does not move lower, I would expect it to eventually break above the first resistance zone .

If it declines from the 46487.52-49266.69 section, it is likely that the sell-off will increase and lead to a sharp decline.

Looking at the big picture, the 38150.02-46487.52 section is a sideways section.

However, if it strongly breaks through the 40100.0-41950.0 section, which is an important previous high, it is expected to touch the 27033.35-29812.52 section.



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.

If the price is maintained above the downtrend line (1), the 54918.88-56630.33 section is the first resistance section.

I think this resistance zone is likely to create a volatility zone for an upward move towards the 60491.83-63278.31 zone.

If the decline is at 46559.44, you should see support at the 42125.51-45163.36 zone.

You should see if the center line rises as the green color of the OBV on the volume indicator increases.

Currently, the green color of OBV is decreasing.

Accordingly, it is important whether the price holds and rises in the section 46559.44-49345.92.

In the CCI-RC indicator, the BTC price is expected to accelerate the upward trend when the CCI line rises above the +100 point, so careful trading is required.


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

In particular, it is necessary to check whether there is a movement out of the 47010.0-50876.0 section due to the volatility between August 22-29.


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

A decline in BTC dominance is likely to lead to a rise in the price of altcoins.

Conversely, a rise in BTC dominance is likely to lead to a fall in the price of altcoins.

If it falls below the downtrend line (1) or the 43.17 point, it is highly likely that a whipso will occur in the BTC price movement, so you need to be careful when trading BTC .

The next volatility period for BTC Dominance is around September 9th.

It remains to be seen if this volatility triggers a 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.


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

Due to the volatility around August 17-23, it has fallen below the 3.009 point, so we have to wait and see if the altcoin bull market can be in full swing.

If the USDT dominance declines, the price of BTC will rise, and the price of altcoins is likely to rise as well.

USDT Dominance falling below the downtrend line (2), indicating that the coin market is moving towards an uptrend.


(USDT 1D Chart)

The USDT chart keeps changing and showing.
It seems that there is a lot of movement of money.
Accordingly, careful trading is required.

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

If you look at the USDC 1D chart (, you should watch for an uptrend along the uptrend line.

I think the rising gap between USDT and USDC shows that money is flowing into the coin market.

Conversely, a fall in the gap indicates that money is flowing out of the coin market.


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

The volatility between the 19th and 25th of August should move above the downtrend line (1) to see if the uptrend can be continued.

In particular, it is necessary to ensure that there is support at point 18.13.

A rise in ETH dominance could lead to a rise in ETH price.

Also, I think it has some effect on the BTC price.

It remains to be seen if ETH dominance can continue to influence BTC price by continuing its uptrend.


( XBTUSD 1M Chart)

All patterns and waves can be known when they are completed, so it is best to conduct a trade that fits 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.


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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