January 22 Bitcoin Bybit chart analysis

Jan 22, 2024

Hello

It's a Bitcoinguide.

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

There are so many branching points in the current position.
It was a place where I had a lot to worry about.
The probability of the strategy being successful is also very low.

The reason is that

A rebound is in progress after touching the support line on the 12-hour chart.
MACD deadcross pressure on 6-hour chart
There was no 5-minute trend reversal.
Even the possibility of a vertical decline...

Some of the construction sections have also changed.

We tried to proceed as safely as possible.

*Sky blue finger movement path
Two-way neutral strategy

1. $41362.5 short position entry zone / stop loss when the orange resistance line is broken

2. Long position switching at $40679.5 / Stop loss when the purple support line breaks away

3. Short position switching at $41724 / Stop loss when breaking the red resistance line

For those who are entering a long position
Today, if it breaks out of the purple support line, it is definitely not good.

Near the green support line in section 1 at the bottom
There is a double bottom, which can be connected to a downward trend.
I don't really want to recommend it.

If it does not break through the pink resistance line,
After touching the resistance line on the 5-minute chart -> it can lead to a strong decline.
Please note

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

I hope you operate safely with principled trading and stop loss required.


thank you

Jan 23, 2024

Order cancelled

Hello
it's a Bitcoin guide.
I will check the movement after writing the analysis on January 22nd.



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

It was a red finger 17327.9 point long position waiting strategy.
without much movement

Red resistance line -> After entering a long position in the gap section
End of extreme sideways trading
Movement came later than expected
It ended in a boring way.

While touching the center line of the Bollinger Band 2-hour chart
Some short-term patterns are broken
There is pressure on the MACD deadcross on the 4-hour chart again.



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

Light blue finger, $41362.5 short position pending
Unfortunately, I couldn't get up to the entry point.
Vertical decline progress

It was pushed to section 1 -> Bottom as indicated at the bottom.


Because there was no touch at the entry point.
The strategy was canceled.

I wish I had raised the short entry position just a little bit more yesterday.
Support lines follow the purple parallel lines to support
It could have been perfect, but it's very disappointing.

After touching the bottom, there is currently a slight rebound.
I explained last week
Tether dominance broke through the main resistance line.
Because there is pressure on the weekly chart MACD dead cross.
A downward trend is occurring.

To the next support line
Please note that there is Gap 6 section remaining at the bottom.
See you in the evening


thank you

Jan 23, 2024

Trade active

This is the lifeline I left behind in the afternoon.
At the bottom is the subsequent movement.



Bitcoin 30-minute chart real-time movement.

Short at the 5-minute resistance line -> connected to a vertical decline
After first touching the lower Bollinger Band,
It is trading sideways near the green support line at the bottom.

I came down to near Gap6 section below.
Overall, we will proceed with today's strategy by comparing it with NASDAQ.
See you in a moment

thank you