Bitcoin Cash (BCH) – July 31 for KRAKEN:BCHUSD by readCrypto

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( BCHUSD 1W Chart)

If the price holds above the 517.20 point, we expect the uptrend to continue.

(1D chart)

We need to hold the price above the 517.20 point to see if it can turn into an uptrend.

We need to see if we can continue the uptrend by moving above the critical section of 624.90-702.98.

If it falls in the 435.70-517.20 section, it is possible to enter the mid- to long-term investment area, so careful trading is required.


( BCHBTC 1W chart)

We will have to see if we can turn to an uptrend by moving up towards the critical interval of 0.024438-0.034064.

(1D chart)

We will have to see if we can find support by moving up towards the 0.014655-0.016063 zone.

If the price holds above the 0.016063 point, we expect it to turn into an uptrend and move higher.

Since the 0.014655 point is a section with a high probability of entering the mid- to long-term investment area, careful trading is required.


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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