The Meaning Of A Bull Market And A Full-fledged Upward Trend For BINANCE:BTCUSDT By ReadCrypto – WorldNewsEra

webnexttech | The Meaning Of A Bull Market And A Full-fledged Upward Trend For BINANCE:BTCUSDT By ReadCrypto - WorldNewsEra

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————————————- (BTCUSDT chart) On November 9th, the first resistance range, 37779.56-38745.63, was touched.
(1M charts) In order for the coin market to show a full-fledged upward trend, it must touch the HA-High indicator and start rising.
Accordingly, 1.
It continues to rise to the current HA-High indicator point of 43823.59, or 2.
Shake it up and down to create a new HA-High indicator.
Since the HA-High indicator is currently located around 59, if it swings up and down in the first resistance range (37779.56-38745.63) near Fibonacci 0.5, the HA-High indicator is expected to enter the overbought range.
Accordingly, when the RSI indicator falls from the overbought range, there is a high possibility that a new HA-High indicator will be created.
Therefore, in order to rise to around 43K, it is expected that the price must be maintained by breaking upward through the first resistance section with a sharp rise.
If not, there is a possibility of resistance and downward trend near the newly created HA-High indicator.
In order to know whether the downward trend that started like this is the beginning of a true downward trend, or whether it is a downward trend to create a pull back pattern, you need to check the following.
(1W chart) I think the most important time frame chart in the coin market is the 1W chart.
You can see that in the past, it played a lot of support and resistance roles around 38531.90.
Therefore, I think you can tell the strength of the trend to some extent depending on how it passes around 38531.90.
As mentioned in the 1M chart, if it rises sharply around 38K, there is a possibility that it will rise immediately around 46431.5.
After that, the trend will be determined again depending on whether it is supported or resisted by the HA-High indicator on the 1M chart.
I told you about how the HA-High indicator is created on the 1M chart.
Accordingly, the full-fledged upward trend will begin only when the HA-High indicator is touched and rises on the 1W chart.
Currently, the RSI indicator has entered the overbought zone.
Accordingly, if the RSI indicator swings up and down around 38531.90, which is near the first resistance area, and falls from the overbought area, a new HA-High indicator is expected to be created.
If it meets resistance and falls from the newly created HA-High indicator, it is expected to create a pull back pattern or turn into a downward trend based on the 29241.72-30767.38 section.
To find out more detailed information, you must check the support and resistance points or sections of the 1D chart.
(1D chart) This upward trend is expected to end by touching the maximum secondary resistance range of 44200.0-47600.0.
It currently touches the first resistance area of 37779.56-38745.63 and is located around 37160.10.
I think split sales are possible above the 37160.10 point.
I said this in the sense that even if the price rises beyond the first resistance zone, it is necessary to sell at least in installments to stabilize one’s psychological state.
When it breaks upward through the first resistance zone, it is expected to rise immediately to around 43160.0 if it breaks upward with a sharp rise.
Therefore, if you do not think in advance about how to respond at this time, there is a possibility that you will be embarrassed and unable to take any action.
When a surge occurs, the selling price will temporarily surge, so if you look at the situation and think about a response, you may react erratically, so you need to be careful.
I think that if the price is maintained above an important trend line, whether it touches the first resistance area and falls or touches the second resistance area and falls, there is a high possibility of creating a pull back pattern.
In any case, when a downward trend begins, the prices of altcoins are expected to plummet.
At this time, what you need to check is BTC dominance.
If BTC falls and BTC dominance is accompanied, it is likely that the decline will stop temporarily because altcoins or ETH are defending the price.
However, if BTC dominance rises when BTC falls, altcoins or ETH will see a sharp decline.
A full-fledged upward trend in the coin market requires BTC dominance to rise above 61 and then begin to fall.
Therefore, even if the conditions mentioned above are satisfied, if BTC Dominus does not rise above 61, I think it is difficult to say that the coin market has begun a full-fledged upward trend.
The concept of a bull market mentioned in today’s USDT dominance analysis is different from the full-fledged upward trend that we are talking about now.
To understand this concept, you will need to read the explanation of highly volatile market prices.
To put it briefly, What I talked about in today’s USDT dominance analysis is about the short- to medium-term trend, and the full-fledged upward trend I mentioned now is about the mid- to long-term trend.
1.
If it falls in the first resistance area and creates a pull back pattern.
If they fall from the first resistance zone and show support by falling near the important trend line, that is, around 32917.17-34110.32, altcoins are expected to fall by about -20% or more.
2.
If it falls in the secondary resistance area and creates a pull back pattern.
Since the secondary resistance section is wide, it seems necessary to check the section that rises and receives resistance for more details.
However, when it falls in the second resistance zone, the altcoin is expected to fall by more than -30%.
If this decline falls below 29850.45, there is a high possibility that it will turn into a downward trend, so you must think about a countermeasure.
————————————————– – The big picture The full-fledged upward trend is expected to begin when the price rises above 29K.
This is the section expected to be touched in the next bull market, 81K-95K.
————————————————– ——————————————- ** All explanations are for reference only and do not guarantee profit or loss in investment.
** Trading volume is displayed as a candle body based on 10EMA.
How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own.
** This chart was created using my know-how.
———————————

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