Bitcoin (BTC) - October 29

Bitcoin (BTC) – October 29

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( BTCUSDT 1W Chart) – Medium to Long-Term Perspective

28130.0-29300.0 or higher: expected to continue upward trend

Looking at the CCI-RC indicator, we can see that the CCI line is above the +100 point, indicating that it is already in an uptrend.

However, as it is below the EMA line, it can be said that the uptrend was limited.

If the CCI line breaks above the EMA line and rises, it is expected to lead to a sharp rise.

(1D chart)
First resistance section: 60383.36-63162.53
Second resistance section: near point 71500.03

First support section: near the 54825.02 point
Second support section: 46487.52-49266.69

I think the first resistance section is an important section to determine the trend.

Therefore, it is expected that the trend will be determined according to the direction out of the 59500.0-64854.0 section.

If the price declines from the 59500.0 point and fails to maintain the price in the first resistance zone , a short-term Stop Loss is necessary as it is likely to move down to the first support zone .

However, it is possible to touch the 53951.43-56578.21 section and rebound, so you need to think about countermeasures.

If the price is maintained by moving up from the 64854.0 point, I would expect an upward movement towards the second resistance zone .

We need to see if there is any change in the volatility period between around October 29th – November 6th (up to October 28th – November 7th).

I think it is various auxiliary indicators that help you to read the flow in ambiguous sections.

You should check if the green width of the OBV included in the trading volume indicator is increasing.
(The green width of OBV indicates a buying trend.)

In the wRSI_SR indicator, it is necessary to check whether the RS line will rise above 20 points and show a short-term uptrend.

In particular, you should check if the RS line breaks above the SR line to see if there is an uptrend.

At this time, you just need to check in which section you will receive support and resistance .

From the CCI-RC indicator, the EMA line is rising above the +100 point.

Therefore, you should check if the CCI line touches the EMA line and shows an upward movement.

If the CCI line stays above the +100 point, it means that the BTC price is maintaining an upward trend.

If we take a look at the movements of the auxiliary indicators,
1. Although the green width of OBV seems to be on a downward trend, it can be seen that the buying trend is higher than the selling trend so far.
2. The wRSI_SR indicator is showing a short-term downward trend.
3. The CCI-RC indicator shows an upward trend.

Therefore, the current flow seems to be creating a pull back pattern.

The important thing in this pull back pattern is the support section.

Every time we publish the BTC chart, the description of the XBTUSD 1M chart is posted at the bottom.

This is because we still expect it to rise in line with the trend of the XBTUSD 1M chart.

The section that was thought to form a big trend was when it was confirmed that it was supported in the 26K-29K section.

If the BTC price rises above the 72104.0 point, it is expected that the 26K-29K section will not be touched in the future.

If the 26K-29K area is touched or falls, it is recommended to buy whenever it falls from a mid- to long-term point of view.

However, as we get closer to the 26K-29K section, a sharp movement is expected.

This sharp move is expected to move above the 33101.0 point.

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( BTCUSDTPERP 1D Chart)

First resistance section: 62697.4-65574.9
Second resistance section: near point 74207.2

First support section: near 56942.5 point
Second support section: near the 48310.2-51187.6 point

If the price holds at the 56942.5-62697.4 zone, I expect an attempt to move up towards the first resistance zone .

In particular, when falling near the 54987.2-56942.5 section, you should check whether there is a sharp rise.

Looking at the wRSI_SR indicator, we need to see if the RS line can move higher than the 20 point and turn into a short-term uptrend.

In the CCI-RC indicator, it is necessary to check whether the CCI line can touch the EMA line and show an upward trend.

The next volatility period is around October 31 (October 30 – November 1).

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(Market Cap Chart)

You should see how the flow of money changes rather than changes in the price chart.
So, you should check the trend of USDT chart and USDC chart.

BTC .D Chart: It is important to find resistance in the range of 47.64-48.81.
USDT.D Chart: A decline below the 2.670 point is critical.

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( XBTUSD 1M Chart) – Big Trend

All patterns and waves can be known when they are completed, so it is best to conduct a trade that fits your average unit price rather than a trade based on prediction.

Looking at the big picture, I think 4-5 waves are going on.

Depending on how you interpret section A, the wave may be different.
Likewise, you need to be more careful in your trading, as the parts that have not yet been created may have the same flow as section A.

The expected ascent section is near the 80574.0-83397.0 section.
This is an expected value considering the fluctuation range that has risen from the 1st section to the 2nd section.

There are two large resistance zones to move up to the expected zone.
The two large resistance sections are section a and section b.

If it fails to break through section a upward, I think it can represent the same flow as section A.

If it rises above the 72104.0 point with this rise, it is expected that it will not fall below the 26K-29K section (maximum 21K section) even if a bear market continues.

If the 38K section is touched, it is expected to lead to a sharp rise.

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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 MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not yet been released.
(Because it is not public, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.)
** 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.)
** 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.

(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.)