Bitcoin (BTC) - June 7

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(BTCUSDTPERP 1D Chart)

Primary resistance: around 32275.6
Secondary resistance: around 35280.2

1st support: 29840.6-30437.0
2nd support: around 28951.7

Whether it is supported above 30437.0 is an important factor.

You need to hold the price above 30437.0 to see if the MS-Signal indicator turns into an uptrend.


If it falls below the 29840.6-30437.0 section, it is likely to lead to further declines, so a Stop Loss is required.


The next volatility period is around July 16th.


(1h chart)
** A short-term response is recommended as sharp movements are likely to occur on the 1h chart.

Points 28951.7, 29840.6, 30971.3, and 32275.6 are important points.

This is the boundary point of the formed box section, so we need to make sure we get support and resistance at this point.

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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator will move accordingly as price and volume move.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet.
** 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.)

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Commento:

(BTCUSDT 1W Chart)

To get out of the oversold zone of the RSI completely, we need to see if we can find support above 32259.90.

You should also see if Heikin Ashi is turning into an uptrend.

Commento:

(BTCUSDT 1D Chart)

Being supported is an important factor.
It remains to be seen whether this movement continues into the next volatility period around July 13th.

(BTC + BTC.D + USDT.D 1D Chart)

This chart marks the important points on the 12M chart according to the chart above.

The 28130.0-29300.0 section is an important boundary section on the 12M chart and is expected to reverse the trend if supported in this section.


- USDT Dominance (USDT.D) Rise: There is a high probability that the coin market as a whole will move downward.

- BTC Dominance (BTC.D) Fall: The altcoin is likely to move upward.

However, since the price of BTC is falling, it means that altcoins are more price defense than BTC.


Taken together, the current decline in BTC price is an indication that the BTC price is declining in the consolidation zone.

If there is a decline in this sideways section, BTC Dominance (BTC.D) will turn into an uptrend.

In this way, the decline in BTC price, the rise of BTC.D, and the rise of USDT.D will cause the coin market as a whole to enter a downtrend.


However, if supported in the above-mentioned range, it instills fear in individual investors and disproves that institutional investors and big-cap whales are buying.