Market led by ETH: Short-term rise for INDEX:BTCUSD by readCrypto

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#BTCUSDT 1M

If the price holds above 38745.63, the RSI indicator is expected to rise into the overbought zone.

Accordingly, it is necessary to check whether it will continue to rise and touch the HA-High indicator, or whether it will shake up and down and a new HA-High indicator will be created.

Since it is a 1M chart, we expect to find out in February next year.

#BTCUSD 1M

I think around 43K is the maximum rising range due to this wave.

However, depending on the Fibonacci ratio, there is a possibility of temporarily touching the 44234.54-48229.91 range.

#BTC.D 1M

The reason is that BTC dominance has not risen above 61 yet.

If BTC dominance falls around 53, there is a possibility of creating a small bullish market, but I don’t think it will ever be able to create a large bullish market.

Accordingly, there is a possibility that a strange market may be formed in which only BTC rises in order for BTC dominance to rise.

#ETHUSDT 1M

I believe that ETH’s temporary lead rise was caused by ETH-related issues (ETFs).

A market that is not led by BTC will likely end up with a short rally.

Accordingly, you should carefully observe BTC’s price movements.

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– 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.

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** 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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