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Bitcoin (BTC) – July 4 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 volume fails to increase, the current price increase is likely to be an upside for a larger decline.

Looking at the USDT 1D chart, it is showing a short-term downtrend.

If this trend continues, it is highly likely that the price will not support and lead to a decline.

(1D chart)

Among the important sections, 31640.22-40586.96, the 33949.53-37252. 01 section is the volume profile section.

To break above the 33949.53-37252. 01 level, I think the volume needs to increase.

In particular, if it rises above the 35067.50 point and finds support, I think it is likely to turn into an uptrend.

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( BTCUSDTPERP 1D Chart)

As it rose above the 33999.52 point, we expect a short-term rise touching the 35096.50-35746.28 section.

At this time, if support is found near the 35096.50 point, it is expected to touch the 37802.84-39966.23 section.

If it goes down, you should check to see if it finds support at the 33527.51-33999.52 zone.

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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.

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

We will have to wait and see if BTC Dominance can touch the 47.64-48.81 range and move lower.

If the downtrend line (1) is touched and goes down, the price of altcoins is expected to show a quick recovery.

If BTC Dominance rises above the 56.78 point, we expect the coin market to start a strong bearish market.

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

If USDT dominance declines, the coin market is most likely in an uptrend.

We will have to wait and see if we can move below the downtrend line (2).

The next volatility period will be around July 9-12.

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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 in 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.

It seems that funds started to stagnate from June 6th , and funds started flowing out from June 23rd.

Accordingly, it fell below the 62.541B point and below the July 1st uptrend line.

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 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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