Bitcoin Bybit chart analysis May 17

May 17

Hello

It's a Bitcoinguide.

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Bitcoin 30-minute chart.
There is no Nasdaq indicator announcement today.

Nasdaq is moderately trading sideways.
Subject to vertical decline in Tether dominance
I created today's strategy.

At the bottom left is the entry point for yesterday's long position.
I proceeded by connecting Purple Finger's $65,426 as is.



*Red finger movement path

One-way long position strategy

1. $66147.5 long position entry zone / stop loss when breaking out of the green support line

Long position 1st target Top -> 2nd target Good -> 3rd target Great
When reaching the 3rd target during the weekend
The medium-term downtrend line will be broken through.

After touching the resistance line on the 5-minute chart in Tether Dominance
The vertical drop must be connected,
MACD deadcross on the 4-hour chart was ignored.

Section 1 at the bottom is guaranteed to be extremely lateral.
Section 2 is the 1+4 major support line.
We must support unconditionally in section 2.

Lastly, please pay attention to Nasdaq variables.
Key resistance prices at the top and bottom of the chart,
I left the support price, so I think it would be good to use it.

Please note that my analysis up to this point is merely for reference and use.
Please operate safely with principled trading and stop loss required.

Thank you for your hard work this week.


thank you

May 20

Trade closed: target reached

Hello
It's a Bitcoin guide.

We will check the movement after writing the analysis on May 17th.



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

Light Blue Finger Short->Long switching strategy
The short wasn't caught.
After touching the long entry position at the 18498.4 point at the bottom
The extreme sideways trend ended without breaking away from the green support line.

A new Gap 18542.6 has been created at the bottom.

Also, due to last week's movement, MACD deadcrosses on the 4-hour and 6-hour charts.
It is engraved and the pattern is maintained in 1+4 sections.
Below, I will create today's strategy before and after the gap retracement.




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

Purple finger at the bottom left: $65,426
When entering a long position

In the 17-day strategy, the red finger is $66,147.5.
Additionally, after entering a long position
Without breaking away from the green support line
Touch the target price of $67,681.5 at the top.

It's a perfect success.

The strategy was carried out as expected.

Over the weekend, $66,884 was created in the Gap section.
After a new chapter begins today
Reversion complete

As the retracement came out, the Bollinger Band touched above.
The short-term pattern is partially broken.
According to Nasdaq movements,
I'll look at it overall.

See you in today’s analysis.


thank you