Bitcoin bybit chart analysis October 10

Oct 10, 2023

Hello

It's a Bitcoin guide.

It's been a while.

Bad things have been happening lately
I'm going through a very difficult time.

Thank you for waiting





Bitcoin 30-minute chart.

It's difficult because it's been a while since I've done an analysis.
There were no special indicators announced and a long position strategy was introduced based on the pattern.




*Arrow movement path

One-way long position strategy

1. $27655 long position entry area / stop loss when breaking out of the purple support line

2. $29061.5 1st target -> Top section 2nd target


In the last long position target section
I think it would be a good idea to hold a stop loss and even try switching short positions.


Please note that my analysis is merely for reference.


I hope you operate safely with principled trading/stop loss required.


thank you

Oct 11, 2023

Trade closed: stop reached

Hello
it's a Bitcoin guide.

I will check the movement after writing the analysis on October 10th.



Bitcoin 30-minute chart.

Arrow movement path after entering long position at $27,655
Breaking out of the purple support line -> until reaching the green support line

It ended in a downward trend.

The strategy was a stop loss.


Currently, the MACD deadcross on the daily chart is depressed.
There will be a CPI indicator announcement tomorrow at 9:30.

In the case of Nasdaq, it ended comfortably as a sideways upward trend.


The charts show tension in real time.
I have to keep reading the flow in my head.

I'm trying to catch up again.


The boring sideways movement continues.

I will explain more details in the afternoon analysis article.


thank you