Bitcoin bybit chart analysis October 16

Oct 16, 2023

Hello

It's a Bitcoinguide.

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Bitcoin 30-minute chart.

It is a one-way long position strategy.


There is no Nasdaq indicator announcement today,
Even if it falls to the bottom, there is a chance of some degree of rebound.

In case of beat,
This is a place where you can connect from the 12-hour chart MACD Golden Cross to the daily chart.


While operating passively last week,
I missed the entry point today, but I tried to proceed a little aggressively.


*Red finger movement path

Long position strategy

1. $27696 long position entry zone / stop loss when breaking out of the green support line

2. $28456.5 Long position primary target -> Good section secondary target

You can try to take a short position, but
After breaking the red resistance line, there is a possibility that it will continue to rise thereafter.

We recommend modifying the stop loss.


Please note that my analysis up to this point is merely for reference.


6 principles of trading / Please operate safely with stop loss required.


thank you

Oct 17, 2023

Trade closed: target reached

Hello
it'a a Bitcoin guide.

I will check the movement after writing the analysis on October 16th.



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

Sky Blue Finger 14919.1 It was a long waiting strategy.

It ended after a rebound without breaking away from the purple support line.

I reached the marked 15150.5 section.
We reached the center line of the 4-hour chart exactly.


After the bottom gap retracement yesterday
Today we are in the midst of further rise and fall.

I'll look at it overall.




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

After touching the red finger $27,696 long position entry zone
After Top -> Good section

Checking how far it has risen

At the pink resistance line at the top
There was a strong rebound up to the indicated $20623.

There was a strong overshoot of close to $3,000.

It was a strategy operated by adjusting the stop loss.
I don't know if everyone did a good job.

The strategy is to take advantage of it.


After that, it is slowly moving sideways to the right.
A gap of $26,972.5 awaits at the bottom.


Let’s take a holistic look at the Nasdaq movements.

See you in a moment.


thank you