Bitcoin bybit chart analysis Sep 18

Sep 18, 2023

Hello

It's a Bitcoinguide.

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If my analysis is helpful,

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Bitcoin 30-minute chart.
I had a hard time because trends kept appearing during analysis.

There are no important indicator announcements today.

After last week's long entry at $26196.5
A trend is emerging little by little.


Today is important.


Maintaining the same strategy as last week,
We will proceed with a short position switching strategy.



*Arrow movement path

Long -> Short switching strategy

1. $27052 long position chase buy zone / stop loss price when breaking out of the purple support line
(Stop loss price indicated at $26,736)

2. $27985.5 long position primary target -> $28367.5 secondary target

If the market moves sideways from the current position, it ends at section 1.
The top section is based on the upward sloping sideways protection.

Up to this point, we only follow the long position stop loss correction without any short entry.


From $27985.5, it is a short position switching position.
Don't follow right away.

Check the support line touch on the 5-minute chart.

When the red resistance line is broken, you can proceed with a stop loss.


If you reach the Great section today
Because it breaks through even the long-term downtrend

I think it would be a good idea to just aim for long position switching positions depending on the movements of Nasdaq.

I will explain why later.




Please keep in mind that my analysis up to this point is merely for reference.


6 principles of trading / I hope you operate safely with stop loss required.


thank you