Bitcoin Bybit chart analysis May 16

May 16

Hello

It's a Bitcoinguide.

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Bitcoin 30-minute chart.
There is an indicator announcement at 9:30.

After first touching the lower Bollinger Band,
It's going sideways.
On the signal, before and after the MACD deadcross on the 2-hour chart
The position is a bit ambiguous.
Because it is a position with a high possibility of sideways movement.
Today, we will operate safely without greed.


*Red finger movement path

Long position strategy

1. $65,426 long position entry zone / stop loss when breaking out of the light blue support line
2. $67681.5 long position 1st target -> Good 2nd -> Great 3rd target

In the case of Tether dominance, depending on today's movements
The mid-term downward pattern may be broken.
The beat should be stronger than the top section.
It is possible to break the mid-term downward pattern.

If the purple support line is maintained,
Strong rising section

Section 1 is a section that traverses downward to the right.
If possible, within the green support line without touching this section.
It would be good if you protect 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