(1D chart) Departing from the uptrend line (7). We need to make sure we can get support at 12974.0.
If you drop at 12974.0, you need to make sure you get support at 12814.0. If it falls from 12814.0, it is a short-term Stop Loss.
A'Pull Back' pattern that touches the 12814.0 point and rises to the 13272.0 point may appear, so you need to check the flow while referring to the increase or decrease in volume and the volatility of USDT dominance.
If you sideways between 12814.0-13272.0, the next volatility is likely to be around November 6.
(1h chart)-short-term strategy We have touched the target point of the LONG strategy among the previous short-term strategies, so we are finished.
As I mentioned in the 1D chart explanation, there is a possibility to sideways in the 12814.0-13272.0 section, so I think we need to establish a short-term strategy according to the movement in this section.
(LONG) Entry point: Touch the 12814.0 point and ascend (However, it is possible to enter when a rising signal (A) occurs in the volume indicator. If you enter when a falling signal (B) occurs, there is a possibility of Stop Loss due to the flow that can feel psychological pressure. .)
Target point: 1st 13116.0 point or higher, 2nd 13272.0 point or higher (It is recommended to realize profit through two installments.)
(SHORT) Entry point: When rising above the 13272.0 point and then falling below the 13272.0 point
Target point: 12974.0 point or less
It can be said that it is highly likely to sideways in the 12814.0-13272.0 section, but there may be flows outside this section. I don't think it's a good idea to set up a short-term strategy in such an area where you can face extreme psychological pressure. This is because even if you are making a profit, trading later can be difficult due to psychological pressure.
Therefore, I think it is better to operate with enough investment money to avoid psychological pressure.
(BTC Dominance 1D Chart) Around October 24th (October 23-25), I sideways without any movement. Altcoins prices fluctuate according to the BTC dominance movement, so it is recommended to check frequently.
** 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 profit generation 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 should trade from a short-term investment perspective.)
GAP refers to the difference in prices that occurred when CME and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Market price at the time of opening
Nota
(UTC) After 15:00, you should touch point 12974.0 and see which direction it moves.
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