Bitcoin (BTC) – August 6

Bitcoin (BTC) – August 6


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( BTCUSDT 1D Chart)
If the price holds above 22753.10, it is expected to maintain an uptrend.

Primary resistance: around 25K
Secondary resistance: 27K-29K

The key is whether it can rise above 23266.90, the point of the published MACD-P indicator, to receive support.

(Among the published indicators, the MACD-P indicator and the MS-Signal indicator combined are the MACD-T indicators.)

(1h chart)

** On the 1h chart, a sharp move is likely to occur, so a short-term response is recommended.

You need to check if you can climb more than the 23175.25-23414.04 section.

If not, you should check to see if it is supported on the 22579.68-22753.10 section.

– In the CCI-C indicator, the CCI line is moving upwards above the EMA line.

Therefore, if the CCI line remains above the EMA line, it is expected to rise.

– However, if the price does not rise above 23414.04 and the Stoch RSI or RSI enters the overbought zone, the uptrend may be broken, so we need to keep an eye on the situation.

So, when you break out of the oversold zone, you should check to see if there is support near the 23175.25-23414.04 zone.

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** This is part of yesterday’s update to the BTCUSDTPERP chart. **

When the Nasdaq Index decouples BTC and causes the Nasdaq Index to decline, it does not mean that the BTC price will continue to rise indefinitely.

The maximum climb is expected to be the 27K-29K section.

The reason is that the flow of funds between USDT and USDC shows a decline in the gap.

Therefore, it should be considered that BTC price is in the rebound section of the downtrend until it is supported by rising above 29K , i.e. 29840.6.

Therefore, I think it is necessary to increase the number of coins (tokens) held for short-term trading until it rises above 29840.6.

If it rises near the 27054.1-29840.6 zone or falls unsupported in that zone, the downtrend is likely to accelerate.

Therefore, if it is resisted and falls near 26574.53, Stop Loss is required to preserve profit and loss.

Stop Loss to preserve this profit and loss should proceed by securing cash that can be purchased additionally when the price falls.

Therefore, if you sell 100%, you may not be able to make a proper judgment due to psychological anxiety depending on the price volatility , so you should think about alternatives in advance.

If the downtrend accelerates, I expect to touch the 13137.51-15916.68 zone.

From a mid- to long-term perspective, it is recommended to increase the number of coins (tokens) you have.

Therefore, the above discussion is based on this point of view.

If you increase the number of coins (tokens) instead of cash income, the purchase price becomes 0 for this number of coins (tokens), so when you start buying later, you will be able to reduce the psychological burden of buying.

For this reason, I said that it is better to increase the number of coins (tokens) rather than cash income.

In order for a full-fledged uptrend to come out, I think it will be possible by maintaining the price above 29812.52 or by falling to the 13137.51-15916.68 section and moving sideways.

In any way, from a mid- to long-term point of view, a trading method that maximizes the number of coins (tokens) you have is absolutely necessary until a full-fledged uptrend occurs.

I wrote this in the hope that the above information will be helpful according to your trading strategy and trading style.

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** All descriptions are for reference only and do not guarantee a profit or loss in investment.

** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points.

** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.

** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)

(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.)


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