Bitcoin (BTC) – October 13 (Trend change!!!)
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If you look at the current situation in terms of the rate, it seems that it is gaining support from 9654.5-10318.0 and is on the rise to 12308.5.
In addition, it can be said that the’Pull Back’ pattern was completed by rising from the fall of the B candle to the vicinity of C.
Since you have touched the uptrend line (5), it is important to gain support by quickly rising above 11516.5 points.
It is also near the point where the’Pull Back’ pattern was completed, so the price support is of paramount importance.
It remains to be seen if it can rise above the 12308.5 point, breaking the uptrend line (4) drawn on the 1W chart.
To do that, we need to see if we can break the upward (5) and (4) between the 18th and 21st of October, as indicated on the chart, and move upward.
If we get support at 12308.5, we’re expected to test if we have the strength to climb to the 14299.0-14962.5 range.
Therefore, point 14277.5 is expected to be the point of resistance.
We need to make sure we can maintain the price with support at points 11460.0 and 11516.5 near High and C of Candle A and High and C of Candle B.
(USDT Dominance 1D Chart)
We have to see if we can get below the 4.390 point.
If it falls below the downtrend line (1), the price of the coins is expected to rise significantly.
However, it is expected that prices will rise selectively.
If it falls below the 4.163 point and falls near the uptrend line (4), the price of most all coins is expected to rise.
If it rises above the downtrend line (3), the price of most all coins is expected to be falling.
( BTC Dominance 1D Chart)
We’ll see if we can get resistance at the uptrend line (5) and move down the 58.912-59.388 section.
may occur around October 15 (October 14-16) on the BTC Dominance Chart.
If it rises above the downtrend line (2) and breaks through the 60.951 point, it is expected that most of the coin prices will have fallen significantly.
Therefore, if it rises above the downtrend line (1), I think split trading is necessary to preserve profit and loss.
** 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.