Bitcoin Bybit chart analysis May 7

Hello

It's a Bitcoinguide.

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Bitcoin 30-minute chart.
There is no Nasdaq indicator announcement.
This is a position with a very high possibility of sideways movement.

According to today's movement, it looks like the upper and lower sides are divided again.
Overall, we created a safe strategy.


*Red finger movement path

Long position strategy

1. $62916.5 long position entry zone / stop loss when breaking out of the green support line
2. $66,407 long position primary target -> Top secondary target

The pattern is maintained without being broken.
With MACD deadcross on the 6-hour chart,
The signal is a bit twisted.

While it is moving sideways, it is important to know where it will move depending on the Nasdaq movement.
The best move for a long position is
While maintaining the purple support line
It would be best if there was a rebound

When touching the green support line,
Because it reaches the dangerous section 4+6
It must break through the orange resistance line.

Number 1 at the top is an upward lateral movement.
I think number 2 at the bottom will be a sideways downward trend.
Within the green parallel line
If there is movement, you can view it as a extreme sideways market.
If BIT continues to succeed in rebounding with Nasdaq
Altcoins can also continue to rise from lows.
Please refer to it


Please keep in mind that my analysis up to this point is merely for reference.

Please operate safely with principled trading and stop loss required.


thank you

Trade active:

Hello
It's a Bitcoin guide.
I will check the movement after writing the analysis on May 7th.

This is a movement after writing an analysis article on the NASDAQ 30-minute chart.
Major sections are marked with black fingers.

Red Finger 18033.9 Long Position Waiting Strategy
Do not come down to the entry point
After touching section 1 indicated within the purple support line
It's back to its original place.

It ended with an extreme horizontal protection trending upward to the right.
While touching the center line of the Bollinger Band 2-hour chart
The pattern is slowly breaking down
The 4-hour chart MACD dead cross engraving has been completed.

I will explain more details in the analysis article.

Bitcoin 30-minute chart.
Major sections are marked with black fingers.

Red finger $62916.5 long position waiting strategy
After long entry, sideways trading ends

It is moving sideways and damaging the green support line.

Rather than completely leaving
I'm breaking the support line while making a fuss.
Because there was no touch on section 2 at the bottom.
The strategy is active processing.

As expected, even in a sideways market
It is trending downward to the right.


Yesterday, after touching the pink resistance line first,
With MACD deadcross on the 6-hour chart while creating a downward wave
I was pressing it down slowly.

I tried to compete in the 4+6 section, but
It's getting pushed back little by little.

Once the 1+4 section is broken, you need to be careful of further declines.
Section 2 is from the current location to 9 p.m.
This will be today's major rebound.

I think there are people who are maintaining long positions.
I'll leave you a lifeline right away, and since it's a strategy, I'll go.

thank you

Trade active:

Bitcoin 30-minute chart real-time lifeline.
After going long, there is no significant breakaway.
It's moving sideways.

Prices for major sections are shown.

Section 1 at the top is the short position operation section.
Section 2 is the section where the broken pattern is restored.
Section 2 is touched until 9 p.m. It is a major rebound section.

Those who were long yesterday
I think it would be a good idea to hold on a little longer.

The possibility of a sideways move seems very high today as well.
We will work hard to prepare compared to Nasdaq.

See you soon in the analysis post.


go for it