Bitcoin bybit chart analysis August 29

Aug 29, 2023

Hello

It's a Bitcoinguide.

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If my analysis is helpful,

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Bitcoin 30 minute chart.
It is a one-way long position strategy.

I brought the same strategy yesterday.

There is an important indicator announcement at 11:00 on Nasdaq, so please refer to it.


*At the red arrow path

long position strategy

1. Entry into long position at $25921.5 / stop loss when green support line completely breaks

2. 1st target of 26154.5 dollars 1st section (short position operation section) -> 2nd target of 26335.5 dollars


Those who are waiting for no position

Look at the 6-hour chart of Bollinger Bands
You might want to wait for the long position of $25862.5 in the light blue finger section.

Similarly, long position target and short switching period become number 1.


Those who are short

Check the shape of the island of support on the 6-hour chart
It can be opened to the right-down 2 times or the bottom section with a strong drop

It might be useful for reference.


According to the Nasdaq movement, today or
Looks like it will come out again tomorrow.


My analysis is for reference only.


I hope you will operate safely with 6 principle trading / stop loss essential.


thank you

Aug 30, 2023

Trade closed: target reached

Hello
it's a Bitcoin guide.

I will check the movement after writing the analysis on August 29th.



This is the NASDAQ 30-minute chart.
Major sections are marked with black fingers.

Arrow 15041.9 After long entry
You have exceeded the marked top section.

There is also a gap section at the bottom.
There was a high possibility that it would be dropped due to the signal.
As expected, Nasdaq is great.

We also received encouragement from the 11 o'clock indicator announcement,
It ended with a strong rise.




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

After entering long position at $25921.5

Beyond the marked number 1 -> Top section,
There was a strong rise until the final Good -> Great section.

The strategy worked.
As the trend turns out to be stronger than expected,
A strong attempt was made to break through to the central line of the daily chart.

Yesterday, there was a MACD deadcross on the 4-hour chart.
With the 6-hour support line supporting
Luckily, the long strategy I chose was successful.

As expected, the trend seems to come out of nowhere.


It looks like the overall direction will be decided today by Nasdaq.

I'll look at it overall and see you in the afternoon analysis.


thank you