Bitcoin (BTC) – October 7

8
0
Share:

Dear traders, nice to meet you.

“Like” is a huge force for me.
By “following” you can always get new information quickly.
Thank you for always supporting me.

————————————————– —–

I think there is a possibility of volatility around October 8th (October 7-9).

It remains to be seen whether this volatility will drop below the uptrend line (3), or rise above the uptrend line (1).

The drastic movement is expected to occur as it touches the downtrend line (6) or (7).
Therefore, there is a possibility of a movement touching the downtrend line (6) or (7) during this volatility period.

It is expected that the tests of the downtrend lines (6) and (7), which will be the first attempts in the downtrend, will be attempted in the near future.

It is expected that this test will lead to a successful rebound, or whether it will lead to an accelerated downtrend.

I think that in order for the rebound to be successful, it must be supported at 11516.5.

If it falls from the uptrend line (3), it is a short-term stop loss.

If it falls below the 10088.5 point, I think trading is necessary to preserve the profit and loss.

————————————————– —

(USDT Dominance 1D Chart)

We need to see if we can get resistance at the uptrend line (2) and move down.
It remains to be seen if it can fall below the newly drawn downtrend line (3) around October 9.

————————————————– —-

( BTC Dominance 1D Chart)

After touching the downtrend line (2), it is gaining support and is rising at the downtrend line (1).

Altcoins, which are showing a lot of movement in BTC price changes, appear to have created a gap in BTC dominance.

Most altcoins are showing a continuing downward trend, and some altcoins are selectively rising.

I think there is a possibility of volatility around October 8th (October 7-9).

We must see if we can move down along the downtrend line (1) and enter the 58.912-59.388 section.
Also, it remains to be seen if it will go up and touch the downtrend line (2) again.

————————————————– ——————————————-

** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.

Explanation of abbreviations displayed on 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 segment that can be bought for generating profit as a support point or segment

(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)

Share: